Austria has a strategic position in the middle of Europe with easy access to the Eastern European market while sharing other borders with two of the four largest economies of Europe. It has an additional advantage in sharing a common language with Germany, the largest of the European economies.
According to ABA (Invest in Austria), the five main reasons to choose Austria as a business location are:
1. High qualification and motivation of workforce
2. Only 25% corporate tax, no trade tax, no property tax
3. Efficient R&D incentives
4. EU member state and best connections to Central and Eastern Europe
5. Lowest strike rate, high stability
When it comes to living in Austria, Vienna was ranked the number one city in the world1.
Austria’s position as a global competitor is supported by the Global competitiveness report 2012 in which in met or exceeded the average score of the rest of the world’s Innovation Driven economies in each of the “12 Pillars of Competitiveness”2.
The most problematic factors for doing business in Austria2 are considered to be:
• Restrictive labour regulations
• Tax rates
• Inefficient government bureaucracy
1 Quality of Living Survey mercer 2011
2 Global Competitiveness Report 2011-2012 (World Economic Forum)