Vienna is quietly establishing itself as a destination for new companies from abroad. Last year alone, 237 companies were added in Vienna, generating 1143 jobs and more than 100 million in investments.
“When international top managers think of Vienna, they often think only of culture and tourism,” sighs the boss of the business agency Gerhard Hirczi. He wants to “put another Vienna in the minds of the decision-makers”, namely Vienna as the perfect place for foreign companies.
After Covid dent “Vienna is picking up again”
In any case, Hirczi and Councilor for Economic Affairs Peter Hanke can show an impressive balance: After a Covid dent in 2020 and 2021, “Vienna is picking up again”, according to Hanke: Last year, 237 new companies from abroad settled in Vienna. This means investments of around 110 million euros and 1143 new jobs – all in all, the second best annual result in Vienna’s economic history.
Which companies from Vienna have
In contrast to previous years, it is mainly smaller companies with around 10 to 20 employees that are attracted to Vienna, especially in “knowledge-intensive sectors” such as information technology and life sciences. According to Hirczi, the fact that companies from abroad come to Vienna does not mean that Vienna has shortcomings in these areas, on the contrary: “Companies only come if they benefit themselves” – in this specific case, well-trained Austrian specialists.
Foreign managers marvel at Wiener Grant
However, Hirczi admits that there are also barriers to even more impetus from abroad, such as Viennese chagrin. But the “boundaries between unfriendliness and world cultural heritage are fluid anyway”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
