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Austria Economy


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Austria Economy

Austria is one of the 10 richest countries in the world in terms of GDP (Gross domestic product) per capita, has a well-developed social market economy, and a high standard of living. Until the 1980s, many of Austria's largest industry firms were nationalised; in recent years, however, privatisation has reduced state holdings to a level comparable to other European economies. Labour movements are particularly strong in Austria and have large influence on labour politics. Next to a highly-developed industry, international tourism is the most important part of the national economy.

Germany has historically been the main trading partner of Austria, making it vulnerable to rapid changes in the German economy. However, since Austria became a member state of the European Union it has gained closer ties to other European Union economies, reducing its economic dependence on Germany. In addition, membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the aspiring economies of the European Union. Growth in GDP accelerated in recent years and reached 3.3% in 2006.

Source: Wikipedia Encyclopedia

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Austria Destinations: Graz, Innsbruck, Klagenfurt, Linz, Salzburg, Vienna


Austria, Croatia, Cyprus, France, Greece, Hungary, Iceland, Iceland, Italy, Malta, Netherlands, Norway, Poland, Portugal, Romania, Russia, Scotland, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine


Extreme Sports

Extreme sports (also called action sports, aggro sports, and adventure sports) is a popular term for certain activities perceived as having a high level of inherent danger. These activities often involve speed, height, a high level of physical exertion, and highly specialized gear. While use of the term extreme sport has spread far and wide to describe a multitude of different activities, exactly which sports are considered extreme is debatable. More articles about Extreme Sports


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