The construction and building industry plays a crucial role in Austria’s economy with booming infrastructure markets creating a vibrant and diversified platform for new projects. This sector contributes over six percent of the country's gross domestic product. Development in the industry comes from both private and government projects with a high demand for residential properties due to current population growth. The industry covers areas such as organizing projects, production of materials, machines, and engineering tools, services, and civil engineering.
The tourism sector in Austria has been playing a significant role in its economic growth since the 1950s through embracing of modern mass tourism. Moreover, the tourism sector has an expansive character with high levels of employment and sales figures. The country has over 40,000 tourist establishments employing over 200,000 people.
The electronics and electrics industries in Austria have led to an outstanding export ratio of over 69.7 percent. This sector deals in mechatronics, electrical engineering, car electronics, electronic supply industry, automotive suppliers, services and diverse industry, control engineering, electronics wholesales, and plant technicians among others. The electronic industry employs thousands of locals every year. Austria’s electronics sector is popular for its innovativeness, product diversity, research, and know-how.
The food economy plays a crucial and integral part of the growth of the country’s GDP contributing 12% to the economy. Austrian groceries enjoy high popularity globally. The country boasts of having high quality modern and traditional resources for handling food productions. Additionally, the innovative manufacturing processes combined with international agricultural trade helps in creating a wide range of food and drinks. The major segments in the Food and drinks industries include food-processing sectors like slaughterhouses and dairy farms; agriculture, and food trade. Additionally, there are brewing companies, non-alcoholic beverage firms, and gastronomy services. The food sector employs over 27,000 people.
The Austrian logistic, traffic, and transportation sector are booming with the industry reporting growth in employment and productivity. The overland transport includes commuter trains, auto bus, railway, cabs, ships, and air that move cargo and commuters domestically and internationally. Austria has a well-constructed and globalized distribution channel for transport of goods through cross-borders and international logistics systems. The various transport and logistics technology standards coupled with efficient innovations, high customer focus, and high technical standard have made Austria rank high in the global transport market.
Austrian industry is one of the most specialized in Europe when it comes to manufacturing in the fields of electronics and electrical engineering. With a workforce of 67,000 (in 2017), the electrical and electronics industry is the second biggest industrial employer in Austria. As a strong export-oriented industrial sector (about two-thirds of the manufactured products are exported to 150 countries across the globe), the companies are disproportionately involved in international economic activity. The electrical and electronics industry accounts for one-third of total R&D expenditures of Austrian industry. Austria’s semiconductor industry plays an important role, especially with respect to automobile electronics.
Date : 12-07 July 2020
Place : Feldkirch, Austrian
Tracht & Country Premiere
Date: 22-07 July 2020
Place : Salzburg, Austria