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COUNTRYPROFILE AUSTRIA

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IMD World Competitiveness Yearbook 2020, Talent & Digital 2019: summaries

WORLD COMPETITIVENESSRANKING 2020

All data are available from theWorld Competitiveness Online.

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BASIC FACTSCapital

Land area (square km '000) 842019

Exchange Rate (per $) 0.8932019

Population - market size (millions) 8.882019 43

Gross Domestic Product (GDP) (US$ billions) 446.12019 27

GDP (PPP) per capita (US$) 53,7192019 16

Real GDP growth (%) 1.62019 40

Consumer price inflation (%) 1.492019 25

Unemployment rate (%) 4.502019 28

Labor force (millions) 4.562019 42

Current account balance (% of GDP) 2.622019 26

Direct investment stocks inward ($bn) 209.12018 29

Direct investment flows inward (% of GDP) 2.942019 19

PEER GROUPS RANKINGSEUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)

COMPETITIVENESS TRENDS - OVERALL

AUSTRIAOVERALL PERFORMANCE (63 countries) Rank

Vienna

CHALLENGES IN 2020Covid-19 measures: Ensure consistency as well as balance

between stabilization and competitiveness.

Federation of Austrian Industries, Vienna

COMPETITIVENESS LANDSCAPE

24 2518 19 16

2016 2017 2018 2019 2020

1620 19

32

2024

61

17 20

7 10

21 20

9

35

1119

127

13

Dom

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Eco

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Inte

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l Tra

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Inte

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ent

Empl

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Pric

es

Publ

ic F

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Tax

Polic

y

Inst

itutio

nal F

ram

ewor

k

Busi

ness

Leg

isla

tion

Soci

etal

Fra

mew

ork

Prod

uctiv

ity &

Effi

cien

cy

Labo

r M

arke

t

Fina

nce

Man

agem

ent

Prac

tices

Att

itude

s an

d V

alue

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Basi

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Tech

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gica

l Inf

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Scie

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Hea

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nvir

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Educ

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Economic Performance Government Efficiency Business Efficiency Infrastructure

16 1612 12 11

2016 2017 2018 2019 2020

17 1713 13 13

2016 2017 2018 2019 2020

• Covid-19 measures: Ensure consistency as well as balance between stabilization and competitiveness.

• Reform of Pension System and Health Care System still pending.• Administrative reform to be pursued at both provincial (Länder)

and local level (Gemeinden).• Growth- and location compatible greening of the Economy to

be addressed.• Digital economy to be further developed.

Provided by:Federation of Austrian Industries, Vienna

IMPROVEMENTSWCY 2019

WCY 2020 DECLINES

WCY 2019

2.1.02 Government budget surplus/deficit (%) 0.11 0.73 1.1.15 Real GDP growth per capita 2.16

2.3.08 Exchange rate stability 0.046 0.005 1.1.14 Real GDP growth 2.7

1.4.04 Employment - long-term growth 1.46 2.07 4.1.07 Population - growth 0.56

1.5.01 Consumer price inflation 2.12 1.49 4.4.23 Environment-related technologies 0.94

3.2.18 Skilled labor 4.13 5.17 1.1.18 Gross fixed capital formation - real growth 3.28

1.4.08 Long-term unemployment 1.40 1.10 3.4.11 Women in management 31.80

4.3.18 Number of patents in force 697.3 832.6 2.3.13 Bribery and corruption 7.74

4.2.11 Qualified engineers 5.41 6.45 2.2.12 Real personal taxes 5.01

4.2.16 High-tech exports (%) 9.78 11.64 3.2.23 International experience 6.40

3.2.24 Competent senior managers 5.10 5.92 3.2.19 Finance skills 6.84

4.5.15 Primary and secondary education 7.13 8.19 2.4.04 Foreign investors 9.08

2.1.09 Public finances 5.01 5.72 3.4.09 Entrepreneurship 7.21

4.2.12 Public-private partnerships 5.73 6.50 2.3.02 Cost of capital 7.13

1.2.02 Current account balance 2.33 2.62 1.4.10 Youth exclusion 6.5

2.3.10 Adaptability of government policy 5.10 5.72 4.4.18 Renewable energies (%) 30.2

COMPETITIVENESS EVOLUTION & ATTRACTIVENESS INDICATORS

AUSTRIACOMPETITIVENESS EVOLUTION

1.15

2.90

28.86

7.03

4.61

5.94

6.36

6.8

The criteria below highlight the 15 biggest Improvements and the 15 biggest Declines in the overall performance of the economy. They are

determined by the largest percentage changes in the value of each criterion from one yearbook to the next.

WCY 2020

29.0

KEY ATTRACTIVENESS INDICATORSFrom a list of 15 indicators, respondents of the Executive Opinion Survey were asked to select 5 that they perceived as the key

attractiveness factors of their economy. The chart shows the percentage of responses per indicator from the highest number of responses

to the lowest.

1.6

0.43

0.81

8.56

6.92

6.85

1.4%2.8%5.6%6.9%12.5%12.5%12.5%13.9%33.3%36.1%54.2%65.3%66.7%76.4%86.1%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Competitive tax regimeCost competitiveness

Quality of corporate governanceCompetency of government

Access to financingOpen and positive attitudes

Business-friendly environmentDynamism of the economy

Effective labor relationsStrong R&D culture

Effective legal environmentHigh educational level

Policy stability & predictabilityReliable infrastructure

Skilled workforce

WORLD COMPETITIVENESSDIGITAL RANKING 2019

All data are available from theWorld Competitiveness Online.

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Alpha AlphaLabelBeta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2

6.5 4 4 2 28.5 4 4 2 2

10.5 4 4 2 2

2015 2016 2017 2018 2019

26 19 16 15 20

16 12 12 13 10

29 28 28 26 32

19 19 15 14 23

COMPETITIVENESS & DIGITAL RANKINGS

PEER GROUPS RANKINGS

EUROPE - MIDDLE EAST - AFRICA (40 countries) POPULATIONS < 20 MILLION (34 countries)

Knowledge

Technology

Future readiness

OVERALL

DIGITAL TRENDS - OVERALL

AUSTRIA

OVERALL PERFORMANCE (63 countries)

OVERALL & FACTORS - 5 years

26

1916 15

20

26 24 25 18

19

2015 2016 2017 2018 2019

Digital

Competitiveness

1611 9 9 12

2015 2016 2017 2018 2019

1612 11 10 13

2015 2016 2017 2018 2019

10 12 8 14

32 25 34 3120

23 29 25 15

Knowledge Talent Training & education Scientific concentration

Technology Regulatory framework Capital Technological framework

Future readiness Adaptive attitudes Business agility IT integrationThe direction of the triangle indicates the performance change from the last year: improved or stabledeclined

Overall Factors Sub-Factors

N.B. This graph provides only a comparison of the country’s performance in the two rankings.

u Overall top strengths

w Overall top weaknesses

Subfactors 2015 2016 2017 2018 201917 13 12 12 12

16 4 4 7 8

22 22 21 18 14

Talent Rank Rank Rank

Educational assessment PISA - Math 19 u 1 7 International experience 13 27 9 Foreign highly-skilled personnel 17 36 43 Management of cities 15 u 2 w 50w Digital/Technological skills 45 8 19u Net flow of international students 4 36 25 10

Subfactors 2015 2016 2017 2018 201931 29 25 24 25

47 39 38 38 34

18 19 22 21 31

Regulatory framework Rank Rank Rank

w Starting a business 50 39 30 Enforcing contracts 9 21 20w Immigration laws 51 15 31 Development and application of technology27 12 30 Scientific research legislation 16 37 37 Intellectual property rights 10 w 60 37

Subfactors 2015 2016 2017 2018 201931 30 25 25 29

10 9 8 5 25

15 16 9 10 15

Adaptive attitudes Rank Rank Rank

E-Participation 40 20 20 Internet retailing 17 23 38 Tablet possession 20 15 u 5 Smartphone possession 36 41 u 6 Attitudes toward globalization 36 12

Technological framework

Talent

Robots in Education and R&D

Training & education Scientific concentration

TECHNOLOGY

Opportunities and threats E-GovernmentWorld robots distribution Public-private partnerships

FUTURE READINESS

IT integration

Business agility IT integration

FACTORS BREAKDOWN - STRENGTHS AND WEAKNESSES

Total expenditure on R&D (%)Total public expenditure on education Total R&D personnel per capita

Capital Technological framework

Scientific concentration

Training & education

Adaptive attitudes

Business agility

Venture capital Internet bandwidth speedInvestment in Telecommunications High-tech exports (%)

Regulatory framework

Capital

IT & media stock market capitalization Communications technologyFunding for technological development Mobile Broadband subscribersBanking and financial services Wireless broadbandCountry credit rating Internet users

Higher education achievement Female researchersPupil-teacher ratio (tertiary education) R&D productivity by publicationGraduates in Sciences Scientific and technical employmentWomen with degrees High-tech patent grants

Employee training

KNOWLEDGE

AUSTRIA

Agility of companies Cyber securityUse of big data and analytics Sofware piracyKnowledge transfer

WORLD TALENTRANKING 2019

All data are available from theWorld Competitiveness Online.

Visit our eShop

Alpha AlphaLabel Beta BetaLabel Gamma GammaLabel1 2 2 2 2 2 24 4 4 2 2

Value

4.8 % 28 27.7 % 4 11,348 US$ 10 11.27 ratio 9 9.17 ratio 7u 8.07 Survey [0..10] 3u 7.96 Survey [0..10] 1 46.72 % 21 8.40 Survey [0..10] 7

Value

w 87.20 index 43u 8.15 Survey [0..10] 2u 7.82 Survey [0..10] 2 6.13 Survey [0..10] 16u 9.63 Survey [0..10] 2 6.53 Survey [0..10] 17 46,305 US$ 12 287,770 US$ 5w 29.67 % 62 7.91 Survey [0..10] 14 12.66 micrograms 22

Value

w 0.75 % 37w 4.13 Survey [0..10] 53 6.84 Survey [0..10] 24 6.40 Survey [0..10] 13w 5.10 Survey [0..10] 41 7.13 Survey [0..10] 19 30.30 % 8 7.78 Survey [0..10] 12 7.27 Survey [0..10] 17 7.03 Survey [0..10] 24 8.41 number 4 496 Average 23

2019 Rank

Total public expenditure on education Percentage of GDP

Pupil-teacher ratio (secondary education)Apprenticeships are sufficiently implemented

Investment & Development 2019 Rank

Health infrastructure meets the needs of society

is readily available

Readiness 2019 Rank

Educational assessment - PISA PISA survey of 15-year olds

Appeal

Exposure to particle pollution Mean population exposure to PM2.5, Micrograms per cubic metre

Labor force growth Percentage change

Skilled labor

Management education meets the needs of the business community

Language skills are meeting the needs of enterprises

Student mobility inbound Foreign tertiary-level students per 1000 inhabitants

Primary and secondary education meets the needs of a competitive economy

Graduates in Sciences % of graduates in ICT, Engineering, Math & Natural Sciences

University education meets the needs of a competitive economy

Finance skills are readily available

International experience of senior managers is generally significant

Competent senior managers are readily available

Justice is fairly administered

Remuneration in services professions Gross annual income including supplements such as bonuses, US$

Remuneration of management Total base salary plus bonuses and long-term incentives, US$

Effective personal income tax rate Percentage of an income equal to GDP per capita

Brain drain (well-educated and skilled people) does not hinder competitiveness in your economy

Quality of life is high

Foreign highly-skilled personnel are attracted to your country's business environment

Cost-of-living index Index of a basket of goods & services in the main city, including housing (New York City = 100)

Attracting and retaining talents is a priority in companies

Worker motivation in companies is high

Gov. expenditure on education per student Percentage of GDP per capita (secondary education)

Total public exp. on education per student

AUSTRIA

Spending per enrolled pupil/student, all levels

Pupil-teacher ratio (primary education) Ratio of students to teaching staff

Ratio of students to teaching staff

Employee training is a high priority in companies

Female labor force Percentage of total labor force

IMD World Talent Ranking 2019

OVERALL PERFORMANCE (63 countries)

12

54 4 44

3 32

4

20

18

15

13 13

26

19

16

18

10

2015 2016 2017 2018 2019

Overall

Investment &Development

Appeal

Readiness

4

134

10

Investment & Development

Appeal

Readiness

The direction of the triangle indicates the performance change from the last year: improved or stabledeclined

2020

IMD WORLDCOMPETITIVENESSYEARBOOK

IMD

Wor

ld C

ompe

titive

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Year

book

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