The economy

Strong tourism, fewer exports

The economic and foreign trade report for 2023 published by the state of Vorarlberg paints an ambivalent picture: While tourism boomed, industry and construction in particular suffered losses. 

State Economic Councillor Marco Tittler and Chamber of Commerce President Wilfried Hopfner presented the economic and foreign trade report for 2023 on Tuesday. As previously reported by the "Krone", the export volume fell by a good three percent to 13.2 billion euros. The iron and metal goods industry suffered the biggest losses, while the food and beverage industry actually achieved growth. The export ratio amounted to around 60 percent.

Hopfner warns of "deindustrialization"
With an export value per capita of 32,366 euros, Vorarlberg is in second place behind Upper Austria in a comparison of federal states. The most important trading partner by far is and remains Germany, which alone accounted for 28% of Vorarlberg's exports in 2023 (around EUR 3.7 billion) and supplied 37% of imports (around EUR 3.5 billion). A total of 60 percent of Vorarlberg's exports went to the EU, while 65 percent of imports came from these countries. Industrial production in Vorarlberg fell by 4.5 percent last year, and the construction industry also recorded significant losses. On the other hand, the development in tourism was extremely positive: in the 2023 summer season, 1.4 million vacation guests (+6.9 percent) booked almost 4.5 million overnight stays (+4.2 percent).

The bottom line is this: The Vorarlberg economy has performed well in a difficult environment. However, WKV President Hopfner warns against leaning back: "We are living in truly challenging times. While many economic regions are able to expand their position on the global market, Europe has to defend it. Many things cannot be glossed over. Above all, the creeping deindustrialization must be given the utmost attention."