Austria Permanent Virtual Exhibition and Business Directory

Austria is home to one of the most developed economies in the EU and one of the highest standards of living in the world. The Austrian economy comprises a large service sector, a healthy industrial sector and a smaller agricultural sector.

The country's GDP grew by 2% in 2010. The service sector is the most powerful segment of the Austrian economy, particularly banking and tourism.

Austrian companies still contribute to GDP in a number of industries, however, including chemicals, communications equipment, construction, food, lumber and wood processing, machinery, metals, paper and paperboard and vehicles and parts. Agricultural output includes cattle, dairy products, grains, fruit, pigs, potatoes, sugar beets and wine.

The Austrian Ministry of Economy, Family and Youth is partnered with the Austrian Business Agency (ABA), a consulting firm owned by the Republic of Austria. Between 2000 and 2009 the ABA assisted a total of 1,405 companies locate in Austria, resulting in FDI of €4.38bn and more than 24,000 new jobs.

The Ministry is investing almost €2.5m in new investment programmes, including "Austria – a centre for research", designed to attract R&D companies to Austria and to improve Austria's image as an R&D centre abroad, and a headquarters initiative, which should tempt companies to locate their headquarters in the country.

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