Vienna (AUSTRIA)

Population: 1,793 million

Area: 414,87 km²

 

The Vienna Region


Vienna is the federal capital of Austria and a federated state. The city lies in the eastern part of Austrian territory and is surrounded by the state of Lower Austria. Located only 60 km from the borders with Hungary, the Czech Republic and Slovakia.

Vienna became one of the most important cities in Europe for its unique geographical location at the intersection of the river Danube line communication channels ranging from the Baltic Sea to the Mediterranean. With the opening of Eastern Europe, Vienna has become one of the most important prosperous regions of the EU.

 

Geography


Austria as a country is a continental country member of the European Union since 1995 which borders Germany to the west, the Czech Republic and Slovakia to the east, Hungary to the east, Slovenia to the Southeast, Southwest Italy and Switzerland and Liechtenstein to the west.

Two elements characterize the geography of Austria: the Alps and the Danube. The country is mainly mountainous, as the natural region of the Eastern Alps occupy 63% of the national territory (53,000 km2). However, the states of Vienna, Lower Austria and Burgenland are practically flat. The highest peak is the Grossglockner with 3,797 meters high. For its part, the Danube travels some 350 km. Austrian territory

 

Transports and Communications


It has an extensive network of roads and motorways, the city has an efficient public transport system

Austria is not only the geographical center of the new Europe - it is also taking a central position as a distribution center and logistics hub between East and West.

Vienna Airport is the main interface Flight East-West European air traffic.

 

Foreign trade


Austria's foreign trade is well balanced and is the most important component of its economy (80% of GDP) and real growth engine, maintaining its good results despite the economic and global crisis from 2008-2009. This path is more favorable than in most other countries in the euro area, whose current accounts generally have negative balances.

The value of Austrian exports grew by 1.7 percent over 2013, to a total of 127,900 m. euros, while imports fell 0.8 percent to 129,720 m., according to the Statistical Office of Austria. Thus, the foreign trade balance of Austria was just negative by 1,830 million euros compared to 4,900 m. in 2013.The 80% percent of Austrian exports go to European countries (70 percent in EU countries).

Austria ranks among the most prosperous countries in the EU. It not only offers a market boasting extensive purchasing power, but a corresponding consumer infrastructure. Despite its relatively small size and number of inhabitants, Austria is a profitable market for international companies.

 According to the European Statistical Office, Austria’s economic output is 29 percent above the EU average. Thus Austria is ranked second in the EU with respect to its gross domestic product per capita, surpassed only by Luxembourg.

 

 

Businesses


Vienna is the location of choice for about 100,000 businesses, many of which are world market leaders in their respective fields. Some 200 multinational corporations have their regional headquarters in Vienna, often responsible for the CEE region. When it comes to capital markets, Vienna is once again a crucial regional hub with headquarters of large, international banks. 

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