Study: Retail Spaces in Austria in Decline
The decline has persisted for a decade but accelerated in the last two years, particularly affecting footwear, electronics, furniture, and clothing.
Food Imports Pressure Austrian Producers Despite Export Rise
Austrian food exports rose by 7.2% to 5.3 million tonnes, while imports grew by 13.2% to 5.5 million tonnes in the first half of the year.
Over 350,000 Unemployed in Austria
Compared to the same month last year, the number of unemployed and training participants rose by 10.6% (33,905 people), pushing the unemployment rate up by 0.6% to 6.6%.
Austria’s Economy Shrinks as Construction and Retail Decline
Austria’s economy shrank more sharply than expected in 2023, with the construction industry and retail sector showing the largest declines.
Home Office Drops to 65% in 2024
While 82% of office employees were regularly working from home in 2022, this number has dropped to 65% in 2024.
Private and Corporate Bankruptcies Set to Increase
The number of companies going bankrupt is expected to increase by around 25%, with nearly 4,900 businesses predicted to file for insolvency.
Property Prices Continue to Decline in Austria
According to Raiffeisen Research, domestic real estate (both new and used) has become an average of 5 percent cheaper since the third quarter of 2022.
Austria Increases Financial Help for Flood Victims
The compensation rate for flood victims will increase from 20% to at least 50%, with up to 80% in hardship cases.
Basic Grocery Prices in Austria Nearly Double Since 2021
According to the AK Price Monitor, penne pasta and flour are among the products that have seen the steepest rises, around 90%, while tea butter and sunflower oil have increased by approximately 64%.
Insurers Anticipate Claims Up to €700 Million Following Storms
In a worst-case scenario, the total could exceed €1 billion, insurers warned, with efforts now focused on ensuring a swift claims process.
