BMAW - Austrian Federal Ministry of Labour and Economy

Future of Research in Austria: Leader in the European Union

In an unprecedented phase of development, Austria's research landscape has set out to achieve the highest research quota within the European Union. The year 2024 marks a turning point in which the country achieves a research quota of 3.34% of gross domestic product (GDP) - a record figure that puts Austria on the ambitious path to the top in Europe.

April 24, 2024

Flow-Through Capital Despite Sanctions: Russian Investments in Austria Continue to Flow

While international tensions and the war in Ukraine, which has been going on for more than two years, are putting a heavy strain on relations between Russia and the West, Austria remains a remarkably robust magnet for Russian investment. Contrary to expectations that the extensive international sanctions against Russia would curb capital flows, the latest data from the Austrian Ministry of Economic Affairs' investment control report shows a different reality: Russian investments in Austria rose by 14% to EUR 25.5 billion in the first half of 2022.

April 22, 2024

New Dynamics on the Labor Market and with the Red-White-Red Card: Austria Relies on the Influx of Skilled Workers

At a meeting of the interministerial Skilled Workers Strategy Committee, decisive measures to speed up the procedures for the Red-White-Red Card were discussed. The aim is to combat the shortage of skilled workers in Austria through more efficient recruitment of internationally skilled workers and to increase the location's attractiveness.

March 19, 2024

Austria Wants to Be One of the Most Sustainable Destinations in the World

The extent to which the issue of climate change now affects all areas of our lives was also evident at this year's Expo Real in Munich.

Birgit Adelsberger · October 8, 2023

Austria Strengthens its Economic and Diplomatic Relations with Africa

Austria has increased its focus on its economic and diplomatic relations with Africa. The country's trade with sub-Saharan Africa amounted to 2.28 billion euros in 2022, or about 0.56 percent of Austria's total trade volume. Austrian exports to the region increased by 15.7 percent year-on-year to 1.33 billion euros. South Africa, Mali, and Nigeria were the main export markets. Read more about why Africa is important for Austria!

September 28, 2023

Austrian Government Aims to Increase Skilled Immigration and Address Labor Shortages

The Austrian government, led by Economy and Labor Minister Martin Kocher, plans to attract a minimum of 15,000 skilled workers from non-EU countries to Austria annually by 2027 through the Red White Red card (Rot-Weiß-Rot Karte) program.

July 18, 2023

New Funding for Economic Transformation in Austria

The Ministry of Labor and Economic Affairs (BMAW) has announced a new funding track under the Climate and Transformation Offensive. The Austrian Research Promotion Agency (FFG) supports the Austrian economy in the transformation and the BMAW provides €300 million for research funding until 2026.

March 1, 2023

30 Years of EU Single Market: Austria’s Advantages are Apparent

30 Years of the EU Single Market have had a positive influence on Austria’s economy. This is shown by the reports of the Ministry of Labor and Economy and the Austrian Economic Chamber (WKO).

February 18, 2023

Ministers of German Speaking Countries in Vienna

The economic ministers of the German-speaking countries, namely from Germany, Switzerland, Austria, and Liechtenstein met in Vienna to discuss several economic measures from the past and for the future.

February 13, 2023

Austria Wants to Accelerate the Integration of Displaced Persons into the Labor Market

The Austrian Public Employment Service (AMS) and the Austrian Integration Fund (ÖIF/AIF) want to accelerate the integration of Ukrainians into the labor market. A letter will be sent to displaced persons encouraging them to contact ÖIF and AMS in order to find employment.

February 12, 2023

Weekly Briefing: News From Austria's Diplomacy

The Find out more about this week's developments. Austria is making an effort to combat the climate crisis. Austria's foreign policy awards prizes in the arts, culture and science. Read about the latest developments in diplomacy in Vienna and Austria.

November 17, 2022

Austria Awards State Prize for Innovation

The State Prize Innovation 2022 from the Austrian Ministry of Labor and Economy goes to the Lower Austrian company DSM Austria GmbH. With their innovation, they make an important contribution to the safe and healthy nutrition of animals and humans.

November 16, 2022

Austria Signs Participation Agreement for EXPO 2025 in Osaka

Austria recently signed the official participation contract for the World Expo 2025 in Osaka, Japan. Expo 2025 is expected to attract more than 28 million visitors from all over the world and provides the ideal stage for Austria to showcase its progress and developments.

October 31, 2022

Promising Austrian Start Ups Receive Important European Innovation Funding

The European Innovation Council (EIC) Accelerator programme is designed to help Europe's most promising innovators achieve an international market breakthrough. Four Austrian companies are also among the 75 start-ups that have received funding.

October 19, 2022

How International Direct Investment and Skilled Workers Influence the Austrian Economy

A new study deals with the question of the extent to which foreign companies and workers influence Austria's value creation. The results show a clear outcome. Read on if you want to learn more!

September 28, 2022

Number of Holiday Trips Back to Pre-Crisis Levels

To mark World Tourism Day, today we turn our attention to tourism in Austria. After the summer, the travel activity of the Austrian population was evaluated. The pleasing result: the Austrian population is travelling more again and is back at pre-crisis levels. Among others, this pleases the airport, which recorded an increase in passenger volume.

September 27, 2022

Greece and Austria Plan Closer Cooperation in Tourism

During a meeting between Vassilis Kikilias, Greece's Tourism Minister, and Susanne Kraus-Winkler, Austria's State Secretary for Tourism, the two countries agreed to strengthen cooperation in tourism affairs.

September 13, 2022

New Framework Agreement Between Ukraine and Austria to Facilitate Economic and Humanitarian Assistance

A new framework agreement between Ukraine and Austria is to promote a strengthening of economic cooperation as well as the expansion of humanitarian aid on the ground. For this purpose, the Austrian Minister of Labour, Martin Kocher, and the Caritas Secretary General, Andreas Knapp, travelled to Ukraine.

September 8, 2022

Austria has the Highest Share of Female Startups in the EU

The Federal Ministry of Labor and Economy (BMAW) had surveyed the financing situation of female startups for Austria and Europe and discussed it at a startup breakfast together with representatives of the startup community at the BMAW. At 36 percent, Austria currently has the highest proportion of female startups in the EU.

July 20, 2022
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