The wealth gap in Austria is shrinking

The wealth gap in Austria is shrinking
The richest households have 90 times as much wealth as the poorest.
Image: colourbox

The distribution of wealth has improved in Austria, but inequality is still high: This emerges from an analysis by the liberal think tank Agenda Austria.

The average wealth of the richest ten percent of domestic households has increased more slowly since 2011 than that of the bottom 50 percent. Nevertheless, the wealth of a household in the richest tenth of the population is on average 90 times as high as that of a household in the bottom half.

The main reason for this is the lower property ownership rate in Austria compared to other countries. Added to this would be the tax burden. As a result, it is hardly possible to build wealth, says Carmen Treml, economist at Agenda Austria.

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