The number of international companies selecting Vienna as an investment location remained high in 2009 despite the global economic crisis. The Vienna Business Agency (VBA) and the national investment promotion company ABA-Invest in Austria provided professional support to 98 firms investing in Vienna last year, the third highest figure in the city’s history.  Investors generally focused on implementing small-scale projects, a development related to the economic crisis and reduced global investment activity. “Vienna continues to be an important business location in Central Europe for international companies, also and precisely in a time of crisis. Two thirds of all companies setting up business operations in Austria in 2009 decided for Vienna”, says Renate Brauner, Vienna’s Vice Mayor and City Councilwoman for Financial and Economic Affairs Renate Brauner.

“In 2009, Vienna was confronted with a 17 percent decline in the total number of investment projects as a result of the international financial and economic crisis. However, this decrease was still significantly below the national average (- 38 percent), clearly demonstrating that our strategy of actively stimulating the economy is the correct approach to counteract the economic crisis“, Renate Brauner adds.

On balance, VBA and ABA have supported 540 international companies establishing business operations in Vienna since the year 2004. Total investments have amounted to EUR 450 million, creating approximately 4,800 new jobs. In 2004, 54 foreign firms chose Vienna, increasing to 119 in the record year 2008. 

 VBA, February 24th 2009. For further details see press release