IMD World Competitiveness Booklet 2023

Austria Competitiveness Trends – Overall

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Vienna

84 2022

0,950 2022

16

Exchange rate (per $)

19

19

20

9,05 2022 41 471,4 2022 30 66.211 2022 13 5,0 2022 24 8,61 2022 37 4,70 2022 29 4,66 2022 40 0,69 2022 27 198,4 2021 31 2,57 2021 37

24

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

• Intra-ecological conflicts impede energy transformation. • Excessive inflation to be addressed. • Reform of pension system and health care system still pending. • Administrative reform to be pursued at both provincial (Länder) and local levels (Gemeinden). • Early segregation in education to be addressed (severely hampers the integration and educational progress of migrant children).

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Federation of Austrian Industries, Vienna

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

9

9

13 13

14

16

16

18

23

25

26

31 27 26

31

33

34

39

47

62

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

11

12

13

13

13

13

13

14

17

17

58 Competitiveness Country Profiles