Vienna at a Glance
Working in ViennaiStockphoto
Vienna's business sector is among the busiest in Central Europe.
The Economy of Vienna
Vienna, which constitutes both a city and its own federal state, contributes some 25% of Austria’s gross national product. It is also one of the wealthiest regions in Europe. As is typical for the Western industrialized world today, most jobs in Vienna are found in the service sector. Roughly one third of these employees earn a living in trade, real estate, leasing and business services. Overall, the overwhelming majority of revenue generated in Vienna (approximately 83%) is made within the tertiary sector.
Working in Vienna does not automatically imply working out of the busy city center. While agriculture is a rather marginal sector in terms of turnover, its importance in the city is fairly large. 900 farming and gardening companies are currently working in Vienna proper, that is, within the city limits. The agricultural sector was allotted about 16% of Vienna’s municipal area, providing town and suburbs with 50.000 tons of produce per year. The most common crops are tomatoes, cucumbers, lettuce, and radish.
The Tertiary Sector
Vienna is a world-famous city on par in beauty with places such as Paris, Berlin or Rome, and home of many historic sites and unparalleled works of art. Thus, Vienna profits considerably from the crowds of tourists that visit the city throughout the year. Not only does this benefit those working in Vienna’s many hotels, cafés and tourist hotspots, but it also helps establish and consolidate its reputation as a metropolis.
Vienna’s large media sector, with its numerous national and local newspapers, radio stations and TV channels, is also a popular career choice for many people. The big international media conglomerates have subsidiaries here, and, of course, many correspondents from major news agencies are present in the city.
In its function as an economic driving force and renowned metropolis, Vienna is a major hub in Europe, boasting branches and headquarters of countless multinational corporations. Many expats working in Vienna are employed at one of these companies. Nearly every Austrian bank and large national company has its headquarters in the city. Most companies in the Global 500 are represented here as well. Companies from the eastern regions of Europe value Vienna for its strategically favorable position between Central and Eastern Europe.
Opportunities for Expats in Vienna
The overall economic trend of the past few years has shown considerable annual growth. While Vienna has also suffered from the global financial crisis, the consequences have been comparably mild. The city still offers career opportunities to expats in virtually any line of work and business. This makes working in Vienna a prestigious, lucrative and sensible decision. If you are thinking of making the step abroad to Austria’s capital, you can find assistance at one of the many relocation providers located in the city. These consulting businesses offer valuable help and are often also hired by larger companies. The city itself is also well aware of its international appeal, and it has reacted accordingly. A newly founded center for expats serves as a contact point and offers advice on different aspects of expat life. Please see our article on living in Vienna for further information.