Austria is a wealthy market, with the 22nd highest GDP per capita and the 30th highest GDP worldwide. Its economy is diversified and highly international, with a manufacturing sector that accounts for nearly 20% of the country’s GDP. Historic unemployment rates are modest, social stability is strong, and democracy and the rule of law are firmly established. The capital city of Vienna regularly places at the top of world quality-of-life rankings.

Over 300 U.S. companies operate subsidiaries in Austria, most with a focus on the Austrian market.

Austria’s domestic manufacturing sector is composed largely of family-owned businesses, some of which have captured a global niche market. Examples of these “hidden champions” are Rosenbauer (fire trucks), Doppelmayr (ski lifts), Frequentis (control tower technology) or Scheibel (mine detection). Austria is fully integrated into the European and global economy, and many sectors rely heavily on imports. Best prospect sectors for U.S. exporters to Austria, as listed below, are detailed in the Leading Sectors for U.S. Exports and Investments section of this Country Commercial Guide.  These sectors are: Medical Devices; Pharmaceuticals; Education; Travel & Tourism; and Cybersecurity.