Vienna
Economy of Vienna
The currency used in Austria is Euros. In 2005, an Economist Intelligence Unit study of 127 world cities ranked Vienna first equal with Vancouver for the quality of life. The city has earned the reputation for being Austria's cultural, economic and political hub and plays host to many international organisations like United Nations and OPEC.
Austria is one of the 10 richest countries in the world in terms of GDP per capita. The country has a well developed social market economy and a high standard of living. Privatisation of large industries is becoming increasingly common.
Labour movements are particularly strong in Austria and have large influence on labour politics. Thanks to the country's magnificent natural beauty, international tourism is an important part of the national economy.
Germany has historically been the main trading partner of Austria, making it vulnerable to rapid changes in the German economy. However, since Austria became a member state of the European Union it has gained closer ties to other European Union economies, reducing its economic dependence on Germany. Growth in GDP accelerated in recent years and reached 3.3% in 2006.
Update 16/05/2009
Keep more of your money when transferring funds overseas!
If you want to move money abroad, from Austria or to Austria for example, Fexco provides efficient and secure global bank to bank transfers and bespoke payment solutions for both business and personal clients.
Why Fexco
Fexco provides a secure international money transfer service online or by telephone with bank beating fx rates and low fees. Specialises in high-value transfers.
Faster, cheaper, safer International money transfers.
Dedicated fx dealer who will oversee your transfer from start to finish
Make payments from anywhere with our secure online platform, PayDirect.
If you prefer the personal touch, then our payments team can be contacted by phone.
Main characteristics
Fexco will help you to keep your overseas money transfer costs to a minimum.
| Margin | 0.6% |
|---|---|
| Regulator | FCA |
| Fee | £10 < £5K or Free > £5k |
| Mini | £1K |
| Ccy | All (130 currencies, incl ‘exotics’) |
| Services | Repatriation of funds, Property, Regular payments, High Value payments, spot, online, telephone. |
Get an online quote today
When you are ready to make your transfer, John and his team will be available to help you with better rates and an unrivalled service to make sure your funds are delivered securely and speedily.
Do you have comments or personal information to communicate about this article? Add your comment.
Find links about overview / economy of Vienna and a lot more in The links of expatriation.
Find more definitions and general answers on expatriation issues in the Expat FAQ (Frequently Asked Questions).
Go to the Forum to talk more about economy of Vienna, overview.