Lower Austria - an innovative business location
As the Business Agency of Lower Austria, we play a central part for the largest province of Austria. Surrounded by high-growth markets in Central and Eastern Europe and supported by strong networking with the economic region of Vienna, our location offers unbeatable geographic advantages. These advantages and the political stability create a unique, investment friendly climate – which makes Lower Austria one of the top places to do business in Europe. Lower Austria's economy scores with an outstanding growth rates, a pronounced export orientation, a focus on technology and innovation, and an exceptional number of startups
10 good reasons for the business location Lower Austria
An international comparison shows the power of the Lower Austrian economy: Its economic performance of around 71,5 bn € makes it stronger than Slowenia`s (66,5 bn €) or Latvia`s (44,7 bn €) and Estland`s (40,6,1 bn €). For instance Lower Austria’s economy has grown by 168,3 % between 1995-2022 (increase in nominal BRP).
High-growth economic power, source: Austrian Economic Chambers/EU Commission Feb. 2024, IMD Yearbook 2023
Industry accounts for about one third of our economic output (31 %). Around 180,000 people are employed in the manufacturing sector in 2022.
Strong industry, source: Federation of Austrian Industry, Lower Austria, 2022
High-tech businesses, logistics companies, and auto suppliers are located here. Diversity is one of the strength of the location. In addition, the local economy has a very wide base: 99.8% of the businesses in are SPEs and SMEs.
Diversity of businesses, source: BMWA / KMU Forschung 2023
In 2023, 6,875 new Business Es were created in Lower Austria, the second highest number of start-ups since 1993. Almost every fifth company in Austria is founded in Lower Austria. With a 46.5 % share of female founders we are above the national average here.
Good soil for founders, source: WK NÖ January 2023
The need for skilled employees is a challenge all across Europe. With 15 universities (applied and private), Lower Austria has a a solid basis to educate a high-skilled future workforce. There are more than 17.311 apprentices currently in training at local businesses. In the IMD World Ranking "Apprenticeships Austria came in 3rd place in 2023.
Lower Austrian Brain Power, source: WK NÖ Dec. 2023, IMD World Competitiveness ranking 2023
Whether in the air, on the road, by rail or on water: Lower Austria has an outstanding transportation routes infrastructure. In 2023, Austria ranked 7th worldwide in the World Bank’s »Logistics Performance Index« ranking.
Top infrastructure, Quelle: The World Bank 2023
Lower Austria is creating an environment, which includes the realized »House of Digitalization« in Tulln, for companies to develop excellently in the digital economy. More than 40 degree programs at Lower Austria`s Universites for applied sciences in St. Pölten, Krems, Wiener Neustadt, the Porsche Fern FH and the News Design University have a strong digitalization focus.
The home of digitalization, source: Digi-Report 2022 Lower Austria
Research-oriented companies are well situated in Lower Austria. Austria is in fourteenth place worldwide in terms of ›quota of inventors‹ measured by the number of registered patents per inhabitant, which were 264 patents per million inhabitants in 2023.
High potentials: land of researchers, source: Science APA March 2024
In 2023, Austria remained among the top 5 in the global "Quality of Life" and "World Talent" rankings, with Lower Austria playing a significant role in this. In comparison with 64 other nations, Austria is in first place for apprenticeship training and in third place for employee training and when it comes to attracting and retaining talent.
A country worth living, source: IMD World Competitiveness ranking 2023
Lower Austria is clearly ahead of Sweden (5) and Norway (3) in the Hidden Champions ranking (15 per million inhabitants). Hidden champions are the market pioneers in their niche. They are magnets for investors. Because investors are looking for partners in the development or production of new goods or services.
Hidden champions are investor magnets, source: Simon Kucher & Partners
economic data Lower Austria
Invest in Lower Austria
A fast-motion movie with a journey through the business location Lower Austria
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facts & figures Vienna Region
Lower Austria – Facts & Figures in Brief
- 19.177 km² area
- 5 regions
- 20 political districts
- 1.71 million inhabitants
- 573 municipalities
- 4 statutory cities