Austrian Retail Rises in 2024 Despite Economic Gloom
The country’s retail sector saw sales rise by 2.7% in nominal terms and 0.9% in real terms in 2024, reaching €77.2 billion.
Tyrol’s Tech Scene Grows but Needs More Investment
The IT and tech industry in Tyrol currently employs 7,500 people and generates an annual turnover of around €1.2 billion.
Austrian Company Mergers and Acquisitions Rise in 2024
The €803 million sale of Cellnex’s Austrian mobile towers to a Franco-German consortium was among the biggest deals of 2024.
Skills Shortage Biggest Worry for Austrian Businesses
Some 67% of the 500 companies surveyed described the skills shortage as a “very” or “fairly” serious problem.
Vienna Sees 15% Rise in Foreign Businesses
The increase is due to a new city-run platform, providing information for international companies, startups and expats looking to settle in Vienna.
Investment in Austrian Start-ups Declines
The 2024 Start-up Barometer from EY shows total funding dropped by 17% from 2023, with the number of funding rounds also declining.
Austrian Small Businesses See Drop in Sales and Profit
Due to financial pressures, 28.6% of businesses, especially in manufacturing and construction, have reduced their workforce in the past six months.
Company Bankruptcies Rise by 22% in 2024
Liabilities are also expected to increase by 31%, with the rise mainly due to a string of high-profile insolvencies.
Austria’s Economic Decline: What Can Be Done to Stop It?
As the Austrian economy continues to struggle and businesses consider relocating, The International asks what strategies could be implemented to revitalise it.
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.
