The same applies to Germany, by far the most important trading partner, according to a study by the Center for European Economic Research (ZEW) in Mannheim. The Alpine Republic has slipped from 9th place to 13th, Germany is only in 18th place (previously: 14th). The USA is once again in first place out of a total of 21. The last is Italy. “Japan and Sweden showed strong improvements, Austria and the Netherlands recorded big losses,” the press release said. The study states: “After the corona pandemic had already caused a temporary deep cut, the Russian war of aggression in Ukraine and the failure of Russian energy imports for Europe resulted in a supply shock with long-term effects. This shock is strongly asymmetric internationally and particularly affects European countries that, like Germany, Austria or the Eastern European EU member states, were heavily dependent on Russian gas.”
Especially in the sub-topics of the latest edition of the “Country Index for Family Businesses” such as labor costs, productivity, human capital as well as regulation and energy, Austria performs particularly poorly and is only listed in 17th place. When it comes to taxes, infrastructure and institutions, it still comes in 8th place, and when it comes to financing, it just barely makes it into the top ten with 10th place. Germany only ranks 20th when it comes to taxes. Slovakia leads here by some distance ahead of the Czech Republic and Poland.
Overall, Austria (52 points) is not only miles behind the USA (63 points), but also behind countries such as Canada (2nd place) and close or nearest neighbors such as Sweden (3rd), Switzerland (4th), Denmark (5th) or Ireland (6th). Places 7 to 12 are occupied by Great Britain, Finland, the Netherlands, Poland, the Czech Republic and Belgium. Behind Austria, from 14th to 21st place – with the countries in 14th to 19th place having very similar scores – are Portugal, Slovakia, Japan, France, Germany, Hungary, Spain and Italy (40 points).
The client of the study was the Foundation for Family Businesses in Munich, which yesterday published the ninth edition of the analysis, which has been published every two years since 2006. The country index is calculated as the weighted average of six sub-indices: taxes, labour, regulation, financing, infrastructure and investments, and energy. It can take point values between 0 and 100.
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