News – 20.09.2020

Strengthening Austria's Export Industry

WIFO Research Brief Outlines Options During the COVID-19 Pandemic

The current historical economic crisis is showing effects of unprecedented dimensions, which also affect foreign trade and are expected to accelerate and deepen the unfavourable development of the Austrian export industry in the aftermath of the financial market and economic crisis in 2008-09. A recent WIFO Research Brief by Andreas Reinstaller and Klaus Friesenbichler outlines options to strengthen the Austrian export industry during the COVID-19 pandemic.
News – 11.09.2020

Sluggish Economic Recovery: Unemployment Threatens to Solidify

WIFO Business Cycle Report September 2020

In the EU, all components of demand were impacted by the economic downturn in in the second quarter; in the UK, France and Italy, private consumption was affected to an above-average extent. In Austria, economic output in the second quarter was one eighth down compared to the previous year's level, the decline thus being less pronounced than the EU average.
News – 04.09.2020

Tourism Analysis May to July 2020

Demand is Almost Cut in Half in the First Three Months of the Summer Season 2020

After a massive decline of arrivals (–73.7 percent) and overnight stays in Austria (–70.0 percent) in May and June 2020, induced by the COVID-19 crisis, demand recuperated somewhat in July: Arrivals declined by only 26.6 percent, overnight stays by 17.4 percent. Demand was thus about 50 percent lower in the first half of the summer season 2020 compared to previous year levels. As a result, according to estimates by the Austrian Institute of Economic Research (WIFO), income generated from tourism shrank by 44.1 percent in the same period.
News – 28.08.2020

GDP Decline of 12.5 Percent in the Second Quarter of 2020 Compared to Previous Year

WIFO Quarterly National Accounts

The Austrian economy declined by 12.5 percent year-on-year in the second quarter of 2020. The measures to contain the pandemic resulted in a massive decline in the consumption-relevant areas of tourism, transport, trade, personal services, as well as art, entertainment and recreation. With the international economic slump, domestic industry and export demand also declined.
News – 26.08.2020

Update of the Medium-term WIFO Forecast

Unscheduled Economic Forecast for 2020 to 2024

In August 2020, WIFO, on behalf of the Ministry of Finance (BMF), made an unscheduled assessment of economic projections for the years 2020 to 2024. This update of the medium-term WIFO forecast serves as an actualised input of the economic fundamentals for the ongoing negotiations of the Federal Financial Framework ("Bundesfinanzrahmen") 2021 to 2024 and the federal budget for 2021.
News – 20.08.2020

Long-term Care Provision in Municipalities

WIFO Study Identifies Lack of Coordination Between Federal Government, Länder and municipalities

On behalf of the largest private nursing home operator SeneCura and in cooperation with the Austrian Association of Municipalities, the Austrian Institute of Economic Research (WIFO) has conducted a study to identify and analyse the needs, concerns and challenges of long-term care provision in the municipalities and derived recommendations.