Wifo confirms good economic position: Salzburg as a business location in the top field
The WIFO confirms Salzburg’s good economic position on the European market among the 20 top destinations.
VIENNA/HALLEIN. According to the Institute for Economic Research (WIFO), the business location Salzburg is far ahead in Austria and Europe in terms of economic development and economic power. This is confirmed by the current competition radar.
Number “one” in Austria
As the Austrian Broadcasting Corporation (ORF) reported, Salzburg is in first place in a comparison of the Austrian federal states measured in terms of gross domestic product (GDP) per capita with 118 percent of the national average. According to WIFO, this is mainly due to increased dynamics in the areas of services, accommodation, art, entertainment, logistics and trade.
Art as an economic engine
Cultural events such as the Salzburg Festival and the Gollinger Festival contribute to the success here.
“These sectors have been the economic drivers of the federal state since the turn of the millennium,” says economist Peter Mayerhofer from the Institute for Economic Research.
In terms of real GDP per capita in Europe, the state of Salzburg is one of the top 20 nations in Europe. More than 250 regions were compared. The real per capita GDP was over 50,000 euros, more than two thirds above the average of the European comparison regions.
“This clear lead is mainly due to the high labor productivity in Salzburg compared to other European countries,” says the economist.
In addition, there is a relatively favorable labor market situation and an intact attractiveness as a center of labor market activity. In addition, the federal state shows slight advantages in terms of labor force participation and the age structure of the population.
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