Vienna International Retail and Consumer Industry News

Taxes Rising, Deficit Growing: Austria Faces EU Criminal Proceedings

Austria is threatened with EU deficit proceedings - at 4.7 percent of GDP, the budget deficit is well above the Maastricht limit. To counteract this, the federal government is taking the first noticeable steps - above all, tax increases on tobacco, betting, e-vehicles, and court fees. However, experts warn that the road to budget consolidation is rocky and politically explosive.

April 1, 2025

Swarovski Back on the Road to Success: Lux-Ignite Strategy Shows Results

After years of challenges, the Tyrolean crystal group Swarovski is back on the road to success. For the first time in five years, the company is in the black and recorded a significant increase in sales in the 2024 financial year. Thanks to the ambitious Lux-ignite strategy and a strong fourth quarter, CEO Alexis Nasard succeeded in returning the long-established company to profitability. But it was not an easy road.

March 20, 2025

Westbahn Expands: New high-speed Connection on the Southern Line From 2026

Westbahn is taking the next big step: From March 1, 2026, the private railroad company will offer five daily train connections between Vienna and Villach via the newly constructed Koralm Railway. With modern high-speed trains and a fast direct connection, Westbahn represents a serious alternative to ÖBB - especially for commuters and business travelers.

March 13, 2025

Austrian Airlines Reports Weaker Result Despite Passenger Growth

Austrian Airlines (AUA) was able to increase its passenger numbers, the number of flights, and revenue by five percent in 2024. Nevertheless, the airline recorded a significant decline in its adjusted operating result (Adjusted EBIT), which fell by 40 percent to EUR 76 million. The Lufthansa subsidiary explained this with special one-off effects such as strikes in the first quarter and high costs as a result of geopolitical developments.

March 6, 2025

WIKAM 2025: A Celebration of Art in the Heart of Vienna

The Vienna International Art and Antiques Fair (WIKAM) will again open its doors at the historic Palais Ferstel from March 8 to 16, 2025. As one of Austria's most renowned art fairs, it offers art lovers and collectors an exquisite selection of works ranging from classical to modern art.

March 6, 2025 · Sponsored Content

Austrian Retail Sector Shows Resilience Amid Economic Challenges

Despite ongoing economic uncertainty and cautious consumer spending, Austria’s retail sector has demonstrated stability and moderate growth. According to the latest WIFO & HV Economic Report, the sector achieved a nominal sales increase of 2.7% in 2024, closely matching previous forecasts. While inflationary pressures have eased in some areas, rising energy costs and declining consumer confidence continue to shape spending behavior.

February 18, 2025

Labor Market in Austria 2024: Number of Vacancies Significantly Decreased

The Austrian labor market is facing an apparent contradiction: while companies are complaining about an acute shortage of skilled workers, vacancies fell significantly in 2024. Rising unemployment figures meet unfilled positions, and many industries are struggling with economic uncertainties. What is behind this development?

February 6, 2025

Vienna's Club Scene Between Crisis and Innovation: Saving the Capital's Nightlife from Dying Clubs

Vienna's club scene is coming under increasing pressure: rising prices, new nightlife habits, and the densification of urban space are creating an uncertain future. At the same time, local players are focusing on creative approaches to preserve the diversity of nightlife culture and offer clubs a future. A detailed look at the current challenges and planned measures shows how fragile and at the same time adaptable Vienna's nightlife is.

January 7, 2025

Viennese Sausage Stand Becomes UNESCO Cultural Heritage: A Tribute to the Viennese Way of Life

The Viennese sausage stand culture has been officially added to UNESCO's national list of Intangible Cultural Heritage. With this recognition, the sausage stand joins the prestigious list of Austrian traditions and is now on par with Vienna's coffee house and wine tavern culture. The decision underlines the cultural and social significance of this institution, which goes far beyond its culinary role.

November 27, 2024

Record Number of Company Bankruptcies in Vienna Burdens Economy and Labor Market

In Vienna, more than 1,100 companies filed for insolvency between January and September 2024, with the real estate sector particularly hard hit. This development contributes to rising unemployment, which has increased by 8.8% compared to the previous year. Experts blame the rise in the poor global economic situation, high inflation, and increased energy and rental costs. The increase is particularly worrying for retail and service companies, as shown by the example of Pepco, which has affected over 600 employees.

October 21, 2024

Alpbach: Between Tradition and the Future - the European Forum Alpbach 2024

The European Forum Alpbach (EFA) celebrated its 80th anniversary in 2024. It once again attracted over 4,000 participants to the small Tyrolean mountain village, which became the center of European discourse for two weeks. Under the general theme of “Moment of Truth”, this year's forum focused on the groundbreaking decisions that Europe must make in the face of multiple crises, from climate catastrophes to political tensions.

August 18, 2024

Austria Investing in the Future: Strengthening STEM Education and Massive Research Funding

Austria is setting standards in the education and research landscape to meet the challenges of the future. With two far-reaching initiatives, the government aims to combat the shortage of skilled workers in the STEM fields (mathematics, IT, natural sciences, and technology) as well as massively promote research and innovation in the country. These measures are intended not only to solve short-term problems but also to secure and strengthen Austria as a business location in the long term.

August 13, 2024

Richard "Mörtel" Lugner: Vienna Mourns the Loss of a Dazzling Entrepreneur and Society Star

Richard Lugner, known as "Mörtel", has died at the age of 91 in his villa in Döbling. As one of Austria's best-known entrepreneurs, Lugner shaped the cityscape of Vienna and the Austrian commercial landscape for decades.

August 12, 2024

Taylor Swift Concerts in Vienna Canceled Due to Suspected Terrorism - What Fans Need to Know Now

The cancellation of the Taylor Swift concerts in Vienna has left many fans disappointed and perplexed. After two suspected terrorists were arrested who had possibly planned an attack on the upcoming concerts, the organizer Barracuda Music decided to cancel the events. Fans are now wondering what costs will be reimbursed and how to proceed.

August 8, 2024

Austria Among the World Leaders in Organic Viticulture

Austria is continuing its successful course in environmentally conscious viticulture and for the first time has more than 10,000 hectares of certified organic vineyards. The 10,432 hectares now correspond to around 24% of the country's total vineyard area, making Austria one of the global leaders in organic viticulture.

July 15, 2024

Austria Businesses Heading for a Record Year of Bankruptcies in 2024

Austria is facing a possible record year for corporate insolvencies in 2024. The current economic situation shows a significant increase in insolvencies, especially in the first half of the year.

July 15, 2024

30 Years of the WKÖ Export Prize: Austrian Companies Honored for Top Performance

Austria's export industry has achieved impressive successes over the last 30 years. EU accession in 1994 played a key role in this, paving the way for a more than five-fold increase in goods exports. Despite challenging framework conditions, the 63,700 domestic export companies achieved a record value of 200 billion euros in goods exports and 83 billion euros in services exports last year.

June 18, 2024

Michelin Guide Puts Austria's Cuisine Back on the Map

The MICHELIN Guide, one of the world's most renowned institutions for restaurant ratings, has announced that it will once again publish an Austria-wide selection of top restaurants from 2025.

February 15, 2024

Africa Day 2024: Austria Looks to Africa's Future Markets

This year's Africa Day was all about Africa's future markets and offered a platform to strengthen economic relations between Austrian and African companies. Organized by the Austrian Federal Economic Chamber (WKÖ), the event attracted more than 1,200 participants from Austria, over 30 African countries, and guests from Europe, Asia, and the USA.

February 5, 2024

Signa-Retail Company Lamarr Declares Bankruptcy

The highly anticipated Lamarr Kaufhaus project on Mariahilfer Straße in Vienna, set to include a flagship department store and hotel, has filed for bankruptcy. This development comes as a significant blow, as the project, originally slated for completion in 2025, has faced financial turmoil. The insolvency was confirmed by the Creditors' Protection Association KSV 1870 on Friday.

February 4, 2024

Saudi Arabia Allows Alcohol Sales to Foreign Diplomats for the First Time

In a significant change to its long-standing policy, Saudi Arabia has decided to allow the public sale of alcohol to "non-Muslim diplomats". This marks a historic departure from the country's strict alcohol ban.

January 25, 2024

The Future of a Crumbling Empire: René Benko's Signa Group in Insolvency

The insolvency of the Signa Group, an Austrian company active in various sectors, including the real estate market, has far-reaching implications. Read more about the future of the Austrian flagship company!

December 6, 2023

Signa in Upheaval: Rene Benko's Retreat and the Future of the Real Estate Giant

Significant changes have now taken place at the real estate and retail group Signa. Company founder Rene Benko is stepping down and handing over the reins to restructuring expert Arndt Geiwitz. This step follows pressure from investors and is intended to initiate a comprehensive restructuring of the group. Benko's removal from power was already apparent in the industry, but it has now been officially announced that Geiwitz will take over as Chairman of the Shareholders' Committee and the Advisory Board. However, the circumstances surrounding Benko's voting rights remain uncertain.

November 9, 2023

Rene Benko and the Future of the Signa Group: Silence Before the Storm?

The Austrian Signa Group once celebrated as a shining star in the real estate sky and a powerful player in the retail sector, is currently facing uncertain times and financial turbulence. Company founder Rene Benko, who has led the group from a non-operational position since 2013 and holds the majority of voting rights through his family foundations, is at the center of a heated debate about the group's future.

November 6, 2023

Vienna Pioneer for Circular Economy: Climate Lab as a Spark for Climate Transformation

In the heart of Vienna, more precisely at the Climate Lab in Vienna Spittelau, an innovative movement has emerged that has the potential to fundamentally change the way Austria's economy deals with its resources. Climate Protection Minister Leonore Gewessler and the top representatives of Austria's largest companies came together to drive forward a sustainable transformation of Austria as a business location, with the Climate Lab playing a key role.

November 5, 2023

Vienna Wins the "EU Organic Award": "Wiener Gusto" Named Best Organic Brand

The city of Vienna once again has a reason to celebrate. At this year's European Union Organic Awards, the city's food brand "Wiener Gusto" was named "Best Organic City". This important "EU Organic Award" was presented by the European Commission in a festive ceremony in Brussels. As a representative of the City of Vienna, Climate City Councillor Jürgen Czernohorszky proudly accepted the award.

September 26, 2023

Skills Shortage in Austria: Companies Feel Pressure, But Also Opportunities

A recent study by the recruiting platform Stepstone shows that the shortage of skilled workers is leaving a clear mark on Austria's companies. Two-thirds of respondents are concerned about the additional workload caused by unfilled positions. This is despite a slight increase in advertised vacancies of 2 percent in the first half of the year, with some sectors such as engineering, care, and construction even seeing significant increases.

September 13, 2023

Green Peak Festival 2023: Austria's Pioneer for Climate Protection and Entrepreneurship

The renowned Green Peak Festival, which has established itself in the heart of Vienna as Austria's flagship event for sustainability and entrepreneurship, impressed once again. For the second year in a row, over 800 participants gathered to network, exchange ideas and discuss the latest developments in sustainability. The project was supported this year by the Embassy of Israel.

September 11, 2023

New Regulations in Vienna: Year-round Outdoor Cafés and Green Parklets

In an innovative response to the COVID-19 pandemic, the City of Vienna has adopted new regulations for catering establishments and public lounges. Both Schanigärten (Viennese Outdoor Cafés) and the green parklets known as "Grätzloasen" are now allowed to remain in public spaces all year round.

September 10, 2023

Danube Ports in Ukraine in Focus of Russian Attacks

International tensions over Ukraine are having an increasing impact on Danube ports in the region. The Vienna-based International Commission for the Protection of the Danube River (ICPDR) expressed concern about repeated Russian aggression against Ukrainian ports along the river, particularly in Reni and Izmail.

September 3, 2023

Austrian Museum of Applied Arts Presents New Exhibition "Critical Consumption"

The fashion industry is characterized by constantly changing trends, rapid production under often precarious conditions, and the flood of new collections. At the same time, this leads to a massive waste of resources and a threat to ecosystems through textile waste. In light of these issues, the Austrian Museum of Applied Arts (MAK) exhibits "CRITICAL CONSUMPTION" (Aug. 30, 2023-Sept. 8, 2024) focuses on the fashion industry and its influence on consumer behavior, manufacturing processes, and sustainability efforts.

August 7, 2023

Ukraine Secures Grain Export through Croatian Adriatic Ports

Ukraine has reached an agreement with Croatia to export grain through ports on the Adriatic Sea. The agricultural goods are to be shipped to Croatia via the Danube and from there they will be transported further to the Adriatic coast.

August 1, 2023

"Wiener Gusto" in the Final for the EU Organic Awards 2023

Vienna is a proud finalist in this year's EU Organic Awards in the category "Best Organic City" thanks to its city-owned food brand "Wiener Gusto".

July 25, 2023

Saving the Historical Habsburg Clothing Brand

The insolvency of the renowned Salzburg-based clothing manufacturer Habsburg in May came as a shock to lovers of the fine label of down-to-earth solidity. Two experienced entrepreneurs from the fashion and lifestyle industry have made the rescue of Habsburg their personal affair of the heart and have thus committed themselves to the continuation of the brand.

July 12, 2023

Wealth of the Richest Austrians Grows Despite Global Trends

In its latest issue, the business magazine "trend" publishes its annual ranking of the "100 richest Austrians". In contrast to some global studies, which show a slight decline in the ownership of the super-rich, Austria shows a different development. The assets of the 100 wealthiest individuals and families increased by five percent to a total of around 210 billion euros.

July 11, 2023

Preliminary Presentation in Vienna of UN Study Results on Fast Fashion and Old Clothes

The Austrian-based foundation COMÚN and the Chilean study author, Beatriz O'Brien, exclusively show the disastrous consequences of "waste colonialism" in research ordered by the UN in the run-up to the "Austrian Consumer Dialogues: Textiles".

June 19, 2023

Waiting Time for Appointments for Citizenship in Vienna Reduced by 50%

Despite the challenges in the area of citizenship, such as the restrictive legal situation and the enormous increase in demand for Austrian citizenship in Vienna, the city has taken various measures to facilitate improvements and faster procedures.

May 23, 2023

Austrian Business Leaders and Government Officials Discuss Economic Ties with South Korea

The President of Austrian Chamber of Commerce Harald Mahrer welcomed South Korean Prime Minister Han Duck-soo. South Korea will be a global hotspot for future technologies of central importance for Austria.

May 14, 2023

Vienna Will Have a Population of Two Million People Soon

Vienna will reach a population of two million people sooner than expected. This was predicted to happen by the year 2027 however, a new wave of migration is boosting the population number.

April 11, 2023

EU Approves 2 Billion Euros in State Aid for Wien Energie

The European Commission has approved 2 Billion Euros in state aid for Austrian energy supplier Wien Energie. This was done to accelerate the energy transition and reduce fuel dependency in the context of the Russo-Ukrainian war, according to the EU Commission.

April 5, 2023

Customs at Vienna Airport Seized 44,830 Counterfeit Branded Products from China

At Vienna Airport, customs officers made a brilliant bust during the inspection of an air cargo in mid-January. In 73 cartons, which should have been transported from China via Austria to Poland, the customs authorities found 44,830 counterfeit products of various product groups and brands.

March 5, 2023

City of Vienna Pushes for Rent Cap

The City of Vienna has called for an Austrian-wide rent price cap since it does not want to implement these regulations on its own. The rent price cap is heavily debated in Austria at this moment because the guideline value for rents might increase too much in April.

March 2, 2023

Austrian National Council Ends Brokerage Fees

A long debate will end on Wednesday as the Austrian national council will end the fee for brokers in the real estate market. Until now, new tenants used to pay the brokerage fee when they moved into their new apartment. The situation has changed now.

February 28, 2023

Vienna Sends More Humanitarian Aid to Ukraine

The City of Vienna is continuing to assist Ukrainians during these tough times. This week, three trucks of relief supplies were loaded and sent to Ukraine, which contained hospital beds, medical devices, etc.

January 22, 2023

ViennaUP'22 - Event in Vienna Excites Thousands of People

The Vienna International Business Festival ViennaUP'22 attracted 10,000 participants from all over the world this year. With the attention-grabbing event, the City of Vienna hits the bull's eye for international visibility and positioning in the startup scene.

June 3, 2022 · Updated: January 7, 2023; 14:40

Austria Promotes Energy Research with 17 Million Euros

The Climate and Energy Fund promotes innovations for clean, affordable and reliable energy supply. The aim is to strengthen Austria as a location for innovation and to improve export opportunities for the domestic economy. A total of 17 million euros is available for the program, endowed from the funds of the Ministry of Climate Protection (BMK).

December 29, 2022

Austria Increases Fund for International Food Aid

The Austrian Ministry of Agriculture will increase funding for international food aid significantly. The Austrian Minister of Agriculture Norbert Totschnig traveled to Libanon to observe the situation.

December 23, 2022

City of Vienna Names Parental Work and Promotion for German Language as Key Points for Integration

Education is a key element for a successful integration in society. That is why the City of Vienna has presented recommendations regarding the challenges of Education in the city. The focus lies more on parental work and promotion of learning the German language.

December 19, 2022

Qatar Celebrates National Day Same Day as World Cup Final

Qatar celebrates its most important holiday of the year through a bunch of events annually. This time, it is more of a special occasion, since on the same day as the national day the Fifa World Cup Final is also held in Qatar, which boosts the celebratory atmosphere in the country.

December 18, 2022

Austria Still Declines the Schengen Expansion

Austrian Chancellor Karl Nehammer confirmed Austria’s negative position towards the Schengen expansion today. At the Western Balkan meeting today in the Albanian capital Tirana, Nehammer declined further Schengen expansions for now.

December 7, 2022