Austria is in Central Europe, north of Italy and Slovenia. The climate is temperate continental. Winters are cloudy and cold with frequent rain and some snow in lowlands and snow in mountains. The summers are moderate with occasional showers. The official language is German. English is widely spoken. Business associates are pleased if foreigners can exchange basic pleasantries in German. The main religion is Christianity. The economy of Austria is one of the 12 richest countries in the world in terms of GDP, 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. Austrians are generally class conscious and sensitive to being referred to as German in terms of culture and identity. Avoid discussing religion, money and politics unless you have a well developed relationship. Austrians are formal in business settings and tend to use titles and surnames rather than first names. Suits and ties are standard at business meetings. Women are represented at the highest levels of business and society. The security risk for expatriates in Austria is low. Risks include low levels of petty crime, and severe winter weather conditions, particularly in the more mountainous areas. The currency of Austria is the Euro (EUR). Banking is on a par with that of Western Europe and North America. The standard of healthcare in Austria is the same as the rest of Western Europe, however costs of treatment for expatriates from outside the EU can be high. The population of Austria is 8.8 Million (2018 est.), while the inflation rate (CPI) is 1.8% for Austria as at April 2018. For a single Expat, the personal income tax rate in Austria is progressive up to 55%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Austria, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Austria as at 1 April 2018 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Average 2) Clothing: Very High 3) Communication: Low 4) Education: Average 5) Furniture & Appliances: Average 6) Groceries: Very High 7) Healthcare: Very High 8) Household Accommodation: Average 9) Miscellaneous: Very High 10) Personal Care: Very High 11) Recreation & Culture: Very High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Very High Austria is for example 22.3% more expensive than USA for groceries, -16.8% cheaper for household costs than UK, and 177.9% more expensive for transport costs than India. The hardship premium for Austria for an expat from Australia, is for example 0%, i.e. host location (Austria) premium of 10% minus home (Australia) location premium of 10%. Austria is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Austria? Register subscribe to your home location and Austria and run your personalised reports.