The global economic outlook has improved significantly since the last forecast. This also has consequences for the expected
recovery in Austria. Leading indicators point to the beginning of a boom phase, which in 2021 will be mainly driven by the
favourable industrial economy. In 2022, tourism will contribute disproportionately to domestic economic growth. After the
decline in the previous year (–6.3 percent), WIFO expects real GDP growth of 4 and 5 percent for 2021 and 2022, respectively.