Research And Markets: The Austrian Economy Is Expected To Reach 427 Billion By 2018 With A CAGR Of 1.7% From 2013 Through 2018

18 May 2013

Austria is a landlocked country located in Central Europe, bordering European countries such as Hungary, Slovakia, Germany, Slovenia, and Italy. Like the entire continent, the Austrian economy was greatly affected by the global financial crisis that began in 2008-2009. The Austrian economy grew moderately in 2011, and the country achieved good growth due to its economic reforms, currency appreciation, and huge inflow of Foreign Direct Investment (FDI).

The service and manufacturing sectors are the main contributors to Austria's GDP. The economy is expected to slow down somewhat in 2013, which can be attributed to the manufacturing industry and the agricultural sector. Labor wages in Austria are also high affecting labor-intensive industries and the flow of FDI into the country. Lucintel's study discusses the major drivers of the Austrian economy. High per capita income is a key component of Austria's economy. This higher per capita income is leading the strong domestic demand especially for consumer durable goods, finance, and insurance, food, and accommodation services. The service sector is also another key driver and contributed 69% of GDP in 2012. Industries such as business services, financial, insurance, and accommodation also are driving growth.

The report provides an analysis of the political, economic, social, technological, legal, and environmental conditions of Austria. The study includes an analysis of the macro economy of the country, its political scenario, and the social, technological, and environmental influencers of the Austrian economy. Lucintel has performed a SWOT analysis of Austria and it is included in the report as well. The narrative also provides the knowledge on leading industries, the emerging trends in the country, and the market entry strategy for doing business in Austria.

Source: http://www.fortmilltimes.com/2013/05/17/2698571/research-and-markets-the-austrian.html