Money Buzz! Europa

Category: Vienna

  • 43% of Austrians who lost their jobs in March found employment again

    43% of Austrians who lost their jobs in March found employment again

    Out of 238.000 persons, who had terminated their employment in the period 15 to 31 March 2020, 43% had found employment again by the end of May 20200.

    In six out of ten cases with the same employer with whom they were previously employed.

    According to Statistics Austria, 434.000 cases of dependent employment ended in this period, and in 358.000 cases new employment was taken up.

    The number of persons in employment according to the international definition was 4.132.700 for May 2020, still 135.800 below May 2019, but already 50.300 higher than in April 2020.

    Actual working hours also grew significantly in May, averaging 28.9 hours, 3.3 hours more than in April 2020.

    However, it was still 3.3 hours per week less than in the same month last year.

    Nonetheless, unemployment remained high in May at 264.600 unemployed persons.

    The scale of the decline in employment is more visible in the “labour reserve”, which grew from 128.800 persons in February 2020 to 213.800 in May 2020.

  • Austria registered 2.341 new patents in 2019

    Austria registered 2.341 new patents in 2019

    Austrian companies and researchers registered 2.341 new patents at the European Patent Office (EPO) in 2019, says Invest in Austria.

    The 2.341 patent applications submitted to the European Patent Office (EPO) surpassed the previous record of 2.281 applications in 2018.

    ABA writes that ”The most patents were registered in the segment of electrical machinery, apparatus and energy (2019: 249), followed by the field of transport (2019: 190)”.

    Borealis leads the list of applicants, registering 179 patents

    Tritonic placed second with 77 patents registered, followed by AMS with 65.

    The most European patent applications originated in Vienna (614) in the year 2019. Upper Austria (478) and Styria (325) placed second and third respectively.

  • Tanja Gruber is the interim Corporate Spokeswoman at Austrian Airlines

    Tanja Gruber is the interim Corporate Spokeswoman at Austrian Airlines

    Tanja Gruber (30), Head of Communications Distribution & Media Relations, will assume the role of Corporate Spokeswoman and Head of Corporate Communications on an interim basis with immediate effect in addition to her function.

    Peter N. Thier (47), the long-standing Head of Communications and Corporate Spokesman of Austrian Airlines, has decided to leave the group at the end of September.

    He will return to Erste Group in October after more than eight years in aviation, where he will take over as Head of Communications and Deputy Head of Brand Strategy & Communications.

    Until then he will hand over his topics to Tanja Gruber and Barbara Greul.

    CEO Alexis von Hoensbroech on the change: “The departure of Peter is very painful for us. Particularly in the recent crisis of this unprecedented pandemic, his level-headed and professional communication has made a significant contribution to the stabilization of Austrian Airlines. I wish Peter every success in his future role at Erste Group”.

  • 1.500 Romanian patients opted for medical treatments at PremiQaMed Vienna

    1.500 Romanian patients opted for medical treatments at PremiQaMed Vienna

    PremiQaMed receieved 1.500 Romanian patients in 2019, in its medical facilities in Vienna. They spent over 4 million Euros in total for medical care.

    In the first quarter of 2020, PremiQaMed received 350 Romanian patients, compared with 450 in the same period last year.

    Morover, since the borders opened mid-June for Romanian citizens, the group recieved 70 Romanian patients, and expects about 100 in July.

    For 2020, the group estimates 1.250 Romanians in total to come for inpatient or outpatient treatments, with summer more likely to be busier than any other time of the year.

    Average sum for treaments at 7.000 EUR

    The average sum for inpatient treaments are approximately 7.000 EUR, all depending on the severity of the condition, while for outpatient diagnostics/treatments costs vary from 300 – 2.000 EUR, depending on the case.

    Every year, PremiQaMed welcomes around 8.000 international patients, Romania being one of the top 5 countries, alongside Russia, Germany, Ukraine and Serbia.

    In fact, 1 din 6 PremiQaMed international patients is Romanian (approx. 17-18% of all international patients).

    Austria is one of the leading medical tourism destinations

    With the second largest number of doctors per 100,000 inhabitants in the European Union, Austria is currently one of the leading medical tourism destinations.

    Austria has one of the most powerful medical systems in Europe, and this has been once again proven by the proficient way it handled the coronavirus crisis in the past months.

    According to the Commercial Bureau of the Austrian Embassy in Bucharest, for over 4.000 Romanian patients Austria is the first choice destination in terms of medical tourism, every year.

    Moreover, Romanians choose Austria due to high trust in the medical system and excellent price-quality ratio.

    In Austria, there are around 265 hospitals, more than 900 outpatient clinics, more than 70 rehabilitation centres, more than 800 old people’s and nursing homes, around 30 geriatric centres and 9 hospices.

  • Red Bull is the most valuable Austrian brand in 2020

    Red Bull is the most valuable Austrian brand in 2020

    Red Bull remains the most valuable Austrian Brand with more than 15 billion euros, latest European Brand Institute study shows.

    Novomatic (3,54 bn euros) and Swarowski (3,46 bn euros) are on 2nd and 3rd place.

    They are followed by SPAR, Erste, Raiffeisen, OBB, OMV, Verbund and XXX Lutz.

    Top 10 Austrian Brands value increased by 10% in 2020, with Verbund the leader, at +29,4% increase compared to 2019.

    It’s for the 17th time when the European Brand Institute (EBI) has conducted its Austrian Brand Value Study and identified the most valuable brand companies.

  • Austria cut taxes to 5% in several sectors

    Austria cut taxes to 5% in several sectors

    Gastronomy, hotel industry, art & culture and media companies will benefit from VAT reduction, writes Heute.

    Thus, the tax on food will be reduced from 10 to 5 percent, while the tax on drinks will be reduced from 20 to 5 percent.

    It also applies to sausage stalls and catering. Contrary to initial plans, it also includes butchers, bakers and confectioners who sell food and beverages.

    Until now, a tax rate of 13 percent has applied to art and culture

    Over the next six months, sales of art, theatre, opera or concert tickets, as well as tickets to museums, zoos, nature parks and cinemas, will be taxed at just 5 percent.

    Circuses and showmen will also benefit from the reduced tax rate for six months.

    Money for newspapers

    5 percent tax applies to books (including e-books), but also to newspapers and magazines.

  • How the Austrian labour market performed during the corona crisis

    How the Austrian labour market performed during the corona crisis

    According to Statistics Austria, 434.000 cases of dependent employment ended in March, April and May 2020, and in 358.000 cases new employment was taken up.

    The number of persons in employment according to the international definition was 4.132.700 for May 2020, still 135.800 below May 2019, but already 50.300 higher than in April 2020.

    Actual working hours also grew significantly in May, averaging 28.9 hours, 3.3 hours more than in April 2020.

    However, it was still 3.3 hours per week less than in the same month last year.

    Out of 238.000 persons, who had terminated their employment in the period 15 to 31 March 2020, 43% had found employment again by the end of May 2020 – in six out of ten cases with the same employer with whom they were previously employed.

    Nonetheless, unemployment remained high in May at 264.600 unemployed persons (according to the international definition).

    The scale of the decline in employment is more visible in the “labour reserve”, which grew from 128.800 persons in February 2020 to 213.800 in May 2020.

  • Austria: Turnover in industry and construction decreased by 6.8% in Q1 2020

    Austria: Turnover in industry and construction decreased by 6.8% in Q1 2020

    A total of 66.348 enterprises in the entire industry and construction sector (+0.7% compared to the previous year) turned over €68.9 bn (-6.8%) in the first quarter of 2020, according to calculations by Statistics Austria.

    The working-day adjusted turnover for industry and construction decreased by 7.1%. These figures coupled with a decreasing employment (948 152 persons, -2.8%).

    At establishment level (66.914 establishments, +0.7%), production sold decreased by 7.1% (working-day adjusted: -7.4%) in comparison to previous year’s level and amounted to €67.9 bn in nominal terms (employing 947 517 persons, -2.8%).

    With €58.1 bn, industrial production sold fell by 8.7% compared to the previous year.

    The 36.476 Austrian construction establishments (+1.4%) achieved a production sold of €9.9 bn in the first quarter 2020.

    This corresponds to an increase of 3.5% in nominal terms (working-day adjusted: +3.2%) compared to the previous year.

    At the end of March 2020, Austrian construction companies (not including construction auxiliary trades) had orders booked totalling about €16.2 bn (-4.0% year-over-year).

  • 41.087 new enterprises were created in Austria in 2018

    41.087 new enterprises were created in Austria in 2018

    In 2018, 41.087 new enterprises were created in Austria, according to the latest available data by Statistics Austria.

    Referring to the total number of active enterprises on the market, this corresponds to an enterprise creation rate of 7.4%.

    Compared to 2017 (7.6%), the intensity of enterprise creation slightly decreased.

    1.5 jobs were created on average per newly founded enterprise.

    At the same time, 32.006 enterprises closed, resulting in an enterprise closing rate of 5.8%.

    Per enterprise closed down, 1.6 jobs were lost on average.

  • Austrian Airlines resumed long-haul flights after 100 days

    Austrian Airlines resumed long-haul flights after 100 days

    One of the first regular long-haul flights operated by Austrian Airlines took off from Vienna today at 10:33 A.M. as flight OS 89.

    The Boeing 767 with the registration OE-LAX landed on time at Newark Airport in New Jersey at around 1:45 P.M.

    Close to one third of the aircraft is occupied, with 64 passengers on board. The return flight is fully booked.

    “Long-haul routes comprise the supreme discipline in Austrian aviation”, says Austrian Airlines CCO Andreas Otto. “Therefore, after such a long interruption, we are of course especially pleased to be able to offer intercontinental flights again and thereby get our hub at Vienna Airport up and running again.”

    The last regularly scheduled Austrian Airlines long-haul flight before the forced coronavirus break, departing from Chicago, landed in Vienna on 19 March 2020.

    In the meantime, Austrian Airlines carried out various repatriation flights from South America, Africa, Australia and New Zealand, amongst other places.

    Transport flights for medical supplies from China and Malaysia also took place and will be continued in July.

  • Annual sales of SPAR Austria’s Natur*Pur reached €471 million in 2019

    Annual sales of SPAR Austria’s Natur*Pur reached €471 million in 2019

    Annual sales of SPAR Austria’s Natur*Pur range reached €471 million in 2019. This range has grown in sales at an average of 16% each year for the past twelve years.

    In the first five months of this year, sales growth was as high as 27%, and as a result, annual sales for 2020 are projected to reach half a billion euros.

    The range comprises 1.050 products, forming the largest single brand within the entire product group of 3.500 organic items on offer in SPAR Austria’s stores.

    “This year, we will exceed the historic sales mark of half a billion euros with SPAR Natur*Pur products. Nobody would have expected our sales reaching this level when the first ten organic dairy products were introduced 25 years ago”, said SPAR Austria CEO Dr. Gerhard Drexel.

  • Ryanair opens 64 routes to/from Vienna commencing July 1st

    Ryanair opens 64 routes to/from Vienna commencing July 1st

    Ryanair announced it will open 67 routes to/from Austria commencing on Wed 1st July next, as part of Ryanair’s post Covid Summer 2020 schedule.

    Its Vienna base will offer 64 routes, including summer services to Palma, Rome, Faro & Athens, and many more.

    Ryanair will guarantee low fares for Austrian customers/visitors at prices which start from €9.99 one way.

    Following the reopening of Lauda’s Vienna A320 base on 1 July, Ryanair will operate to/from Vienna on a mixture of Boeing and Airbus aircraft. Since Lauda will become a wet lease provider for the Ryanair Group, the red brand will continue to fly over the skies of Austria from 1st July.

    Ryanair’s Austria 2020 schedule

    • Over 25 summer destination including Faro, Malaga, Malta, Naples & Palma.
    • Over 20 city break destinations including Dublin, Milan, Madrid, Lisbon & Warsaw.
    • Ryanair will also operate 2 routes to/from Salzburg and 1 route to/from Klagenfurt.