Austria is a wealthy market, with the 22nd highest GDP per capita and the 30th highest GDP worldwide. Its economy is diversified and highly international, with a manufacturing sector that accounts for 17% of the country’s GDP, according to World Bank statistics. Historic unemployment rates are modest, social stability is strong, and democracy and the rule of law are firmly established. The capital city of Vienna regularly places at the top of world quality-of-life rankings.

Over 300 U.S. companies operate subsidiaries in Austria, most with a focus on the Austrian market. The American Chamber of Commerce Austria’s most recent 2019 Business Barometer Survey of U.S. company members consistently identifies their most important business location factors in Austria: 1) availability of skilled labor, 2) high quality of life and security, and 3) excellent infrastructure (transport, telecom, energy).

Though Austria has a strong manufacturing sector, it is also fully integrated into the global economy, and many sectors rely heavily on imports. Best prospect sectors for U.S. exporters to Austria, as listed below, are detailed in the Leading Sectors for U.S. Exports and Investments section of this Country Commercial Guide.

• Pharmaceuticals
• Medical Devices and Digital Health
• Advanced Manufacturing
• Cyber Security
• Education
• Travel and Tourism
• Agricultural Products