Delicate growth

How the Viennese economy is defying the many crises

In contrast to all other federal states, the economy in Vienna grew last year. However, unemployment in Vienna is also significantly higher. This presents opportunities and risks.(Bild: Agata Kadar - stock.adobe.com)

Vienna's economy is proving resilient even in difficult times - and it could be doing even better. 

Wifo took a close look at Vienna's economy on behalf of the city and the Chamber of Commerce. The results certainly give reason for cautious optimism. While the Austrian economy had to contend with a decline in gross value added of -1.6 percent in 2024, Vienna was the only federal state to record slight growth of plus 0.3 percent. "Vienna is proving to be pleasingly resilient despite the ongoing and multiple crises," emphasizes City Councillor for Economic Affairs Peter Hanke (SPÖ).