Austria is one of Europe’s smaller countries, but also one of the richest and most stable in the EU. Austria’s small but well-developed economy is highly globalized and resilient, sustained by a skilled labor force, competitive manufacturing, and a large service sector. Openness to global trade and investment is firmly institutionalized, and the relatively efficient entrepreneurial framework strengthens competitiveness. Protection of property rights is traditionally strong, and the legal system is transparent and reliable. As a result of its business culture, Austria is an attractive destination for those looking to set up new business ventures.
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