ABA: Business location projects at the 2018 level despite the coronavirus crisis

The business location scorecard of the investment promotion consultancy Austrian Business Agency (ABA) at the end of the third quarter of 2020 confirms the very positive results achieved by Austria as a business location in spite of the coronavirus crisis.

As of September 30, 2020, ABA had provided professional support to 309 foreign companies setting up business operations in Austria. In turn, this led to investments of € 547.4 million in Austria and the creation of 1,899 new jobs. In comparison, 396 companies (total investments: € 1.54 billion, 4,092 jobs created) already set up business oeprations in Austria at the end of September of the record year of 2019 compared to 259 companies (total investments: € 522.5 million, 1,450 jobs created) in 2018.

"We anticipate annual results to be about 25 percent lower than in the previous year. This is because most of the projects implemented in 2020 were already at an advanced stage of their expansion process. Fortunately, the coronavirus crisis did not deter these companies from investing in Austria", says Marion Biber, Managing Director of Invest in Austria. "However, getting closer to the end of the year, we are perceiving a substantial reduction in the number of new inquiries."

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