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Austrian Economy & Business |
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ORGANIZED ECONOMIC INTERESTS In the industrial society of the modern democratic state, the organized representation of economic interests has acquired special significance. Austria's economic prosperity and the calm political atmosphere at home are due to a great extent to the smooth cooperation between the two main interest groups, workers and employers, cooperation which has become institutionalized in Austria to a greater extent than in virtually any other democratic nation. In 1996 there were no strikes at all. The interests of the employees in Austria are represented by the Austrian Trade Union Federation (ÖGB), the Chambers of Labor and the Chambers of Agriculture. Membership of the ÖGB is voluntary, while the chambers are public corporations with compulsory membership. Austria as a Business Location Today more than ever before, a country's significance and thus its international standing is determined by its economic performance. At the beginning of the 21st century, Austria was one of the richest countries in the world and as a member of the EU it belongs to the world's most important economic players. In addition, the positive fundamental economic data and the high degree of industrial peace have made Austria a highly sought-after business location. continue with this topic... |
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| Note: The economy information has been obtained in part from the official government site. www.austria.org & the CIA Fact Book Online. |
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