Austria is a landlocked country located in Central Europe, bordering countries such as Hungary, Slovakia, Germany, Slovenia, and Italy. The Austrian economy was affected by the global financial crisis in 2009, and the growth of the economy slowed significantly. The Austrian economy grew in 2011 and the country achieved significant growth due to its economic reforms, currency appreciation, and huge inflow of foreign direct investment (FDI). The Austrian economy is expected to reach $427.1 billion by 2018.
Lucintel, a leading global Management Consulting and market research firm, has conducted a competitive analysis on this country and presents its findings in “Austria Country Analysis: 2013-2018 An Evaluation of Political, Social, Economic, and Business Risk.” This study provides a concise overview of the political, economical, social, technological, and business risk associated with the country. The study includes a forecast of GDP for the next five years.
Lucintel discusses the various challenges that Austria faced in the last decade. The nation is forecast to grow at approximately 0.2% real GDP growth rate in 2013. Austria faces a high sovereign debt situation, however, and the external debt of the country is more than 50% of the GDP. If that debt continues to increase, Austria could very likely face a crisis that will have a longer impact on the economy of the country.
Lucintel’s study encompasses the nation’s major economic drivers. High per capita income is the key factor powering Austria’s economy. Higher per capita income is leading the strong domestic demand, especially for consumer durable goods, finance, insurance, food, and accommodation services. The service sector is also another key driver and contributed to nearly 70% in GDP in 2012. Industries such as business services, financial, insurance, and accommodation are driving the growth.
This report highlights on different aspects of the country, including location, economic performance, quarterly trend, sectoral contribution, FDI by industry, trend of population, per capita income, trend of inflation, balance of payment, budget deficit, trade structure, foreign exchange reserve and exchange rates, R&D expenditure, and more.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk@lucintel.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency. To learn more, visit www.lucintel.com.