Austria is a federal republic and a landlocked country of over 8.7 million people[1] in Central Europe. It is bordered by the Czech Republic and Germany to the north, Hungary and Slovakia to the east, Slovenia and Italy to the south, and Switzerland and Liechtenstein to the west. The territory of Austria covers 83,879 km2 (32,386 sq mi).
Austria is the 12th richest country in the world in terms of GDP (Gross domestic product) per capita,[2] has a well-developed social market economy, and a high standard of living. Until the 1980s, many of Austria's largest industry firms were nationalised; in recent years, however, privatisation has reduced state holdings to a level comparable to other European economies. Labour movements are particularly strong in Austria and have large influence on labour politics. Next to a highly developed industry, international tourism is the most important part of the national economy.
For further information on the types of business entities in this country and their abbreviations, see "Business entities in Austria".
- ^ "Population by Year-/Quarter-beginning". 1 October 2015.
- ^ "Austria". International Monetary Fund. Retrieved 17 April 2012.