Government Announces Pension Increase For 2025
Pensions in 2025 will rise by the statutory adjustment factor, which is expected to be between 4.5% and 4.7%.
Vienna Banks Reduce Branches by One-Third Amid Digital Shift
The primary driver behind the closures is increased digitalisation, which is challenging for those without mobile phones.
Majority of Austrian Citizens Oppose Inheritance Tax
The survey also indicates that 36% of respondents believe they and their families would be impacted by such a tax.
Record Number of New Start-Ups in Vienna
The chamber reported 5,170 new businesses established in 2024 so far, up 2.5% from last year. Around 9,700 companies could be founded over the entire year.
Cheapest Grocery Prices Up 42% in Austria Since 2021
A Chamber of Commerce study found that Billa and Spar charge nearly 11% more for the same shopping basket than discount stores.
Taylor Swift Shows Could Boost Vienna’s Economy by €100 Million
Swift’s 152-date Eras Tour has already become the highest-grossing concert series of all time, with last year’s US leg earning over $1 billion (€920 million).
Austria Faces Staff Shortages in Hospitality Sector
The study found over 11,500 unfilled jobs across Austria, noting that the actual number could be significantly higher.
Illegal Employment Uncovered in Vienna Hotels
The operation targeted foreign staff and resulted in fines totalling €68,000, in addition to the immediate recovery of over €43,000 in overdue taxes.
Austria to Break EU Budget Rules, Think Tank Predicts
The Institute of Advanced Studies predicts that Austria’s government deficit will reach 3.0% of gross domestic product (GDP) in 2024, exceeding the official EU threshold.
Austria’s Nonprofits Contribute Over €22 Billion Annually
The new survey highlights the significant impact of both paid and voluntary work across various sectors, including social services, health, culture, and sports.