The economy in Austria is still in a crisis. While most federal states fought in 2024 with a decrease in economic output, only Vienna could easily assert themselves. The industrial regions that suffered from the weak global question were particularly difficult.
Only the federal capital Vienna escaped the recession and rose by 0.4 percent in 2024. Vienna benefited from a stable service industry and a strong pharmaceutical industry, explains Robert Schwarz, economist from Unicredit Bank Austria. It looks very different in the upper Austria: with a minus of 2.7 percent, the industrial highlands is the soil. The international weakness of question was particularly difficult. Carinthia (-2.4 percent) and Lower Austria (-1.7 percent) also lost a lot.
Styria (-0.8 percent) was surprisingly robust, while the tourist countries did tyrol (-0.5 percent) and Salzburg (-0.7 percent) better than the average of Austria (-1.2 percent).
Service sector with light and shade
In the industrial comparison, the construction in the crisis was in addition to the industry. And: although the public sector, financial service provider and the IT industry remained stable, the trade with weak consumption question fought. Tourism Records Records (154.3 million), but increasing costs pressed the added value. The Western federal states in particular felt the damper. Only Vienna seemed with an overnight stay of nine percent.
The unemployment rate has increased everywhere
The work perspectives have deteriorated nationally. “The percentage increase in unemployment in Upper Austria was the most powerful,” says Chief Economist Stefan Bruckbauer. This was due to the fact that the economically dependent industries in particular members. Salzburg remained the lowest unemployment rate at 4.2 percent, Vienna, despite the highest unemployment (11.4 percent), the strongest employment plus.
Trump-Zölle: Upper Austria and Styria Screaming
The 50 percent rates threatened by the EU in the United States would have a contraction of 0.6 percent if the economy of Austria enters into force and endangers around 25,000 jobs. “The industrial regions of Upper Austria and Styria with a customs -related fall in the economic output of more than 1 percent and more than 7,000 risk of work would be the most affected,” Schwarz emphasizes. The impact on the regional economy in Carinthia and Burgenland is the lights on the light.
2025: Hardly any recovery in sight
The predictions remain dark. Vienna and Burgenland can best grow by 0.4 percent. Upper Austria and Carinthia, on the other hand, threaten crash further. And: unemployment will increase in all federal states – especially strong in Upper Austria, Styria and Salzburg.
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.
