WIFO boss warns:
“Ländle must not rest on its laurels”
WIFO boss Gabriel Felbermayr also visited the Bregenz Festival. He used his visit to the province to discuss the current economic situation and upcoming challenges with Governor Markus Wallner and the responsible Provincial Councillor Marco Tittler.
Two years ago, the WIFO analyzed the competitiveness of the Vorarlberg economy. In comparison with 49 European competitor regions, the companies in the Ländle performed very well. However, the situation now looks different. "Due to global and economic developments, competition is tougher, especially with the 49 competitor regions mentioned," explains Marco Tittler.
Significant slowdown in the industrial economy
Gabriel Felbermayr takes a similar view: "Vorarlberg cannot rest on its laurels, as the local economy was also affected by the significant slowdown in industrial activity in 2023." In the meantime, Vorarlberg's competitiveness has come under just as much pressure as that of Austria as a whole - mainly due to the fact that unit labor costs have risen more than in other EU countries due to the high wage agreements.
The warning calls - not only from the head of the WIFO - have been heard by Provincial Councillor Marco Tittler. In order to remain competitive, he wants to promote qualified apprenticeship training, expand research capacities and also push ahead with digitalization.
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