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Austria: Executive Summary |
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Austria Executive Summary
Austria
covers approximately 75% of the eastern Alps.
It has borders with Germany, Liechtenstein, Switzerland,
Italy, Slovenia, Hungary, Slovakia and the Czech
Republic. It has a population of around 8.3m people;
German is the official language.
Austria’s
economy until the recession was very stable and
enjoyed steady growth: 3.5% in 2007, 2% in 2008,
but a contraction of –3.6% in 2009. Austria
has a large service sector with more than 67%
of the workforce employed in this field. Approximately
27% work in the industry sector and less than
2% in the small but highly developed agricultural
sector.
Corporate
income tax is 25% and has been at this level for
a number of years. The highest personal income
tax rate is 50%.
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