Austria Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in austria, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Investment Climate Statement
Last published date:

The U.S. Department of State’s Investment Climate Statements help U.S. companies make informed business decisions by providing up-to-date information on the investment climates of more than 170 countries and economies. They are prepared by our embassies and consulates around the world and analyze each economy’s openness to foreign investment. Topics include:

•    Openness to, and Restrictions upon, Foreign Investment, 
•    Investment and Taxation Treaties,
•    Legal Regime,
•    Industrial Policies,
•    Protection of Property Rights,
•    Financial Sector,
•    State-owned Enterprises,
•    Corruption,
•    Labor Policies and Practices,
•    Political and Security Environment, and
•    U.S. International Development Finance Corporation (DFC) and Other Investment Insurance or Development Finance Programs

Each statement provides a starting point for U.S. firms and offers a point of contact at the relevant U.S. embassy or consulate abroad.

These reports are also a resource for foreign governments to create business environments that ensure fair treatment for the United States and our companies and investors. 

To access the full Investment Climate Statement, visit the U.S. Department of State Investment Climate Statements website.

Executive Summary of the 2025 Investment Climate Statement for Austria

Austria has a well-developed market economy that welcomes foreign direct investment, particularly in technology and research and development (R&D). The country benefits from:

  • political stability,
  • high-quality health,
  • telecommunications and energy infrastructure; and
  • a high standard of living, with its capital, Vienna, consistently placing at the top of global quality-of-life rankings.

With more than 50 percent of its GDP derived from exports, Austria’s economy is closely tied to other EU economies, especially that of Germany, its largest trading partner. The United States is one of Austria’s top two-way trading partners, ranking third in overall trade according to provisional data from 2023. The economy features a large service sector and an advanced industrial sector specialized in high-quality component parts, especially for vehicles. The agricultural sector is small but highly developed.

As of early 2025, Austria’s economy remains in a prolonged recession, with GDP decreasing by 1.2 percent in 2024 and 1.0 percent in 2023. Early indicators for 2025 point to another year of negative economic growth. The manufacturing sector continues to be hampered by low global demand, as well as high energy prices and labor costs, while consumer spending remains weak. After running a 3.9 percent budget deficit in 2024, above the EU’s Maastricht criterion, Austria faces fiscal consolidation measures, limiting the government’s ability to stimulate economic growth. Uncertainty over the international trade landscape complicates the path to recovery, as any trade disruptions would have a disproportionately large effect on Austria’s export-driven economy. Inflation was at 2.9 percent in 2024 but is expected to exceed 3 percent for the foreseeable future, as several inflation-combating measures have run their course. Businesses continue to view the labor market as a challenge, citing high labor costs and a shortage of skilled labor. Other challenges include:

  • a relatively high tax burden,
  • a complex regulatory and bureaucratic system, and
  • low levels of private venture capital.

Elevated energy prices also remain a concern. Having suffered a severe energy shock in the wake of Russia’s 2022 invasion of Ukraine, Austria has been looking to secure its natural gas supplies by diversifying away from piped Russian natural gas, which accounted for the lion’s share of Austria’s gas consumption for decades until the end of 2024. The expiration of the gas transit agreement between Russia and Ukraine at the end of 2024 along with the cancellation of Austria’s natural gas importer OMV’s long-term contract with Gazprom in November 2024, resulted in a cutoff of the flow of Russian gas to Austria. Substantial storage reserves, along with contracts with alternative suppliers (through pipeline connections with Germany and Italy), mitigate the risk of disruptions, as Austria transitions to other sources, including U.S.-supplied liquified natural gas.

The country’s location between Western European industrialized nations and higher-growth markets in Central, Eastern, and Southeastern Europe (CESEE) has led to a high degree of economic, social, and political integration with fellow European Union (EU) member states and the CESEE. Around 220 U.S. companies have investments in Austria, represented by around 300 subsidiaries, and many have expanded their original investment over time. U.S. Foreign Direct Investment (FDI) into Austria totaled approximately €16.8 billion (approx. $18.1 billion) in 2024, according to the Austrian National Bank, and U.S. companies support over 17,400 jobs in Austria. Austria has historically attracted significant investment in the following sectors:

  • automotive,
  • pharmaceutical,
  • ICT and electronics, and
  • financial.


View the U.S. Department of State Austria Investment Climate Statement. 

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

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