Austria with a population of 8.75 million is considered to be one of the world's richest countries. The average household net-adjusted disposable income per capita USD 32 544 a year is quite higher than the OECD average of USD 30 563.
Approximately 20% of all Austrians live in the capital, Vienna (1.87 mln), which also attracts 14 million tourists a year. The citizens and tourists make up a huge consumer market which creates many opportunities for franchise companies.
More than 50% of the franchise businesses operating in the country are of local origin. If one wants to start a franchise business in Austria, they should have a successful business model that has already been approved in other European countries or in other countries around the world. The main foreign franchise players which influence Austrian franchising economy are Germany with 29% of franchises, EU (excluding Austria and Germany) with 11% of franchises, and the United States with 6% of all franchises in the country.
Main American companies, such as Coca-Cola, Eli Lilly, Hewlett-Packard, and McDonald’s, have built their network in Eastern Europe with Vienna as the operational center. Compared to other European countries Austria has a favorable taxation system and a flexible labor market.
According to Austria’s national franchising association, the country hosts 9,760 franchisees of 436 franchise concepts contributing EUR 8,8 billion net value annually to the economy of the country.
There are high investment business opportunities, as well as cheap franchises in Austria presented for review, the choice is yours.
Currency: Euro (€)
Education Index (2013): 0,82
Official languages: German
Per capita GDP (PPP): $51,936
Quality-of-life index (0-10): 7,73
Population: 8,82 mln
Total GDP (PPP): $461,432 billion
Ease of Doing Business Ranking, Rank: 22
Human Development Index (HDI): 0,893