Austria: In-depth PESTLE Insights

This PEST country analysis report on Austria provides a holistic view of the country, with insightful analysis of current and future issues, supplemented with relevant quantitative data to support trend analysis.

Key Highlights

– The political landscape section discusses the evolution of the political scenario in Austria, as well as the country's economic, social, foreign, and defense policies. The section also discusses the country's performance according to World Bank Governance Indicators.

– The economic landscape section outlines the evolution of Austria's economy, as well as the country's performance in terms of GDP growth, composition by sector (agriculture, industry, and services), fiscal situation, international investment position, monetary situation, credit disbursement, banking sector, and employment."

– The social landscape section analyzes the government's social welfare policies, as well as the country's performance in terms of healthcare, income distribution, and education.

Scope

– Understand the political system in Austria through analysis of key figures in the country and governance indicators.

– Understand the economic situation in Austria through a balanced assessment of core macroeconomic issues.

– Understand customer demographics in Austria through analysis of income distribution and the rural-urban split, as well as healthcare and education.

– Understand the technological landscape in Austria through analysis of relevant laws and policies, as well as patents data.

Reasons to buy

- What is the outlook in Austria in terms of political stability, policies towards business, and the popularity of the government?

- How does Austria perform in terms of GDP growth, its fiscal situation, international investment position, monetary situation, and employment?

- How does Austria perform in terms of healthcare, income distribution, and education?

- How does Austria perform in terms of technology-intensive sectors like IT, life sciences, and R&D expenditure trends?

Table of Contents

Table of Contents

Overview 2

Catalyst 2

Summary 2

Key findings 2

PESTLE highlights 5

Key fundamentals 7

Key Facts and Geographic Location 15

Key facts 15

Geographic location 16

PESTLE Analysis 17

Summary 17

Political analysis 18

Overview 18

Current strengths 18

Current challenges 19

Future prospects 20

Future risks 21

Economic analysis 22

Overview 22

Current strengths 22

Current challenges 27

Future prospects 29

Future risks 30

Social analysis 33

Overview 33

Current strengths 33

Current challenges 34

Future prospects 37

Future risks 38

Technological analysis 40

Overview 40

Current strengths 40

Current challenges 43

Future prospects 44

Future risks 45

Legal analysis 46

Overview 46

Current strengths 46

Current challenges 46

Future prospects 47

Future risks 47

Environmental analysis 49

Overview 49

Current strengths 49

Current challenges 52

Future prospects 52

Future risks 53

Political Landscape 56

Summary 56

Evolution 57

Structure and policies 58

Key political figures 58

Structure of government 58

Center/federal 58

State/provincial 58

Structure of legislature 59

Composition of legislature 60

Key policies 61

Performance 62

Governance indicators 62

Outlook 63

Economic Landscape 64

Summary 64

Evolution 64

Pre-1950 64

1950-1980 64

1981-1990 65

1991-2007 65

2008-2017 65

Structure and policies 66

Financial system 66

Financial authorities/regulators 67

Stock markets 67

Insurance 67

Performance 68

GDP and growth rate 68

GDP composition by sector 69

General government deficit/surplus situation 73

External debt 73

International trade 73

International investment position 74

Key monetary indicators 74

Interest rate 75

Employment 76

Outlook 76

Social Landscape 77

Summary 77

Evolution 77

Structure and policies 77

Composition by age and gender 77

Education 79

Healthcare 80

Social welfare 80

Performance 81

Healthcare 81

Income distribution 81

Education 82

Outlook 82

Technological Landscape 83

Summary 83

Evolution 83

Structure and policies 83

Technology agreements/pacts 83

Intellectual property 83

Performance 84

Opportunity sectors 84

Telecommunications, broadband, and internet 84

Research and development 85

Outlook 85

Legal Landscape 86

Summary 86

Evolution 86

Structure and policies 86

Judicial system 86

Structure of the system 87

Performance 88

Legal indicators 88

Outlook 88

Environmental Landscape 89

Summary 89

Evolution 89

Structure and policies 89

Environmental regulations 89

Performance 90

Environmental impact 90

Outlook 90

Appendix 92

Ask the analyst 92

Disclaimer 92

List of Tables

List of Tables

Table 1: Austria – Key Fundamentals, 2015-2022f 7

Table 2: Austria – Key Facts, 2018 15

Table 3: Analysis of Austria’s Political Landscape 18

Table 4: Analysis of Austria's Economic Landscape 22

Table 5: Analysis of Austria’s Social System 33

Table 6: Austrian Healthcare Indicators, 2017 or Latest Available Year 38

Table 7: Analysis of Austria’s Technological Landscape 40

Table 8: Analysis of Austria’s Legal Landscape 46

Table 9: Analysis of Austria’s Environmental Landscape 49

Table 10: List of Plant Species by Threat Category 54

Table 11: List of Animal Species by Threat Category 55

Table 12: Mid-year Population as a Percentage of the Total Population, 2017 78

Table 13: Patents Granted by the US Patent and Trademark Office, 2010-2015 84

List of Figures

List of Figures

Figure 1: Map of Austria 16

Figure 2: Migration in Austria, 2004-2017 19

Figure 3: Non-appealable Convictions from 1980 to 2017 21

Figure 4: Youth Unemployment (% of Total Labor Force, Ages 15-24), 2017 23

Figure 5: Real House Price Indices and Change in Prices, Q1 2012 – Q1 2018 24

Figure 6: Household Debt (% of Net Disposable Income), 2016 25

Figure 7: Tourism Growth, 2008-2016 26

Figure 8: Tourism Receipts, 2007-2016 27

Figure 9: Venture Capital Investments in Select European Countries, 2015 28

Figure 10: Bank Non-performing Loans to Total Gross Loans (%), 2006-2017 30

Figure 11: Austrian Banks’ Exposure to CESEE Countries and Foreign Claims, Q4 2017 and Q3 2017 32

Figure 12: Average Effective Age of Retirement, 2016 35

Figure 13: Employment Rate of Older Workers (aged 55-64) in Select European Countries, 2017 36

Figure 14: Old Age Dependency Ratio, 2017 37

Figure 15: Old Age Dependency Ratio, 1970, 2015, 2050f, 2060f 39

Figure 16: Number of Scientific and Technical Journal Articles, 2016 41

Figure 17: University-Industry Collaboration, 2018 42

Figure 18: Government Researchers, 2015 43

Figure 19: Share of Women Researchers (Full-time Equivalent) in Select European Countries, 2015 or Latest Available Year 44

Figure 20: Tertiary Education Attainment of 30-34 year olds in Select European Countries, 2017 45

Figure 21: Tax Wedge (% of Total Labor Cost), 2017 48

Figure 22: Renewable Energy’s share of Gross Final Energy Consumption, 2016 50

Figure 23: Air Pollution in Austria, 2016 51

Figure 24: Primary Production of Renewable Energy by Wind Power, 2005-2016 53

Figure 25: Threatened Species, 2017 54

Figure 26: Austria – Political Events Timeline 57

Figure 27: Austria – Key Political Figures 58

Figure 28: Austria – Composition of the National Council After the October 2017 Elections 60

Figure 29: Austria – Historical GDP Growth, 2007-2017 66

Figure 30: GDP and GDP Growth Rate in Austria, 2012-2022f 68

Figure 31: GDP Composition by Sector in Austria, 2017 69

Figure 32: Agricultural Output in Austria, 2012-2017 70

Figure 33: Industrial Output in Austria, 2012-2017 71

Figure 34: Services Output in Austria, 2012-2017 72

Figure 35: General Government Deficit – Austria, 2000-2017 73

Figure 36: External Trade of Austria, 2013-2017 74

Figure 37: Consumer Price Index and CPI-based Inflation in Austria, 2012-2022f 75

Figure 38: Unemployment in Austria, 2012-2022f 76

Figure 39: Major religions in Austria, 2001 79

Figure 40: Expenditure on Healthcare in Austria, 2011-2017 81

Figure 41: Total Expenditure on Education in Austria, 2011-2016 82

Figure 42: Number of Internet Users in Austria, 2012-2016 84

Figure 43: R&D Expenditure in Austria, 2000-2016 85

Figure 44: Carbon Dioxide Emissions in Austria, 2008-2015 90

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