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Growing economy in Austria

statistic_id14426_bruttoinlandsprodukt-bip-pro-kopf-in-oesterreich-2014-300x223General economy facts
8.579 Mio. inhabitants
4.113 Mio. employees

Corresponding to the Department of Foreign Affairs of Germany Austria registered a GDP of 329 Billion Euros in 2014, what meant a economic growth of 0,4% (0,5% expected for 2015). The inflation rate declined in 2014 to 1,5% from 2,1% in 2013.
There was an export turnover of 127.9 Billion Euros in 2014 (125.8 Bill. € in 2013) (www.statistik.at).

Germany is still the main trading partner (2013 approx. 30% of all exports belonged to Germany). Following are Italy with 6,5% and USA with 5,6% (www.statistik.at).
40% of all investments of foreign countries go to Middle- and East-Europe (at the top Czech Republic, than Hungary an Poland).

Of course Vienna is the center of all Austrian industry. 2014 here was made a business volume of 97.968 Mio. Euros, followed by Upper Austria with 41.954 Mio. Euros (http://www.industriemagazin.at/rankings/die-gipfelstuermer).

About one sixth of Austria’s wage and salary workforce is employed in the trade and industry sector, which contributes some 13% to the GDP.

Development of ICT market
In 2014 Austria invested 7.6 Bil. Euros in Big Data, Cloud Computing, mobile Solutions and Enterprise Social (www.computerwelt.at).

Referred to the news agency „Pressetext“ the market analysis company PAC (Pierre Audoin Consultants) defined in 2014 the focus on themes like Cloud and Analytics (Business Intelligence, Big Data) and Digital Transformation (Enterprise Mobility, Collaboration, Unified Communication).
http://www.pressetext.com/news/20140401020; http://www.future-network.at/uploads/tx_posseminar/14046_fn_nb_ikt-trends.pdf

According to the professional journal „Monitor“ the New Design University of St. Pölten (NDU) will offer from autumn 2015 on a new course of studies named Bachelor or Master of „Information Science & Big Data Analytics“.

We see there is a big turnaround in this little country and it’s economy and we can be excited about it’s coming development.