ABSTRACT
Austria is one of the countries in European Union that is growing in terms of its population, economic performance, job creation, and also its increasing standard of living. In 2018, the population of the country was 8,795,000, or 1.7 percent of the EU’s total population. Between 1990 and 2018, the population grew by 1.1 million, mostly because of immigration. The country generated 2.4 percent of the EU’s GDP, which it the tenth largest economy in the EU. Austria generates a GDP more than three times that of Hungary and twice as large as Czechia’s. The Alpine country achieved a modest but internationally significant pace of growth: 1.7 percent adjusted annually between 2000 and 2005, and annually 1.4 percent adjusted between 2005 and 2010. The number stagnated in 2013, and thereafter, the yearly growth rate increased to 3 percent. 1
