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Austria has a well developed and stable economy, with a high standard of living and a strong export oriented industry. The country’s economy is characterized by a highly skilled labor force, a competitive business environment and a strong manufacturing sector. Austria is one of the wealthiest countries in the world, with a Gross Domestic Product (GDP) per capita of around EUR 45,000. The Austrian government has taken measures to foster entrepreneurship and support small and medium-sized businesses.

Austria is a member of the European Union and the Euro-zone. Austria is a federal republic with nine states and the legislative power is shared between the federal government and the state governments. Austria has a civil law system based on a comprehensive code of laws and its legal system is further strengthened by the European Convention on Human Rights and other international treaties, as well as by the EU’s acquis communautaire.

Business Activity
Austria is an attractive place to do business, offering foreign investors a favorable business environment, a highly skilled and educated workforce, and access to the European Union’s single market. The country also offers world-class infrastructure and an excellent logistics network, making it an ideal location for businesses operating within the European Union. In addition, Austria’s strategic location at the heart of Europe makes it an ideal base for companies looking to expand into other European markets. The country also has a strong research and development sector, with a number of innovative and successful companies based in Austria.