According to IHS boss Holger Bonin, the domestic economy has bottomed out. In general she is well positioned.
Industry is lame, the railway is not working, the infrastructure is collapsing, digitalization is not making any progress. Harsh statements about the state of the economic situation – but fortunately not about Austria. Holger Bonin is a native of Germany and has been head of the Institute for Advanced Studies (IHS) since July of last year. In an interview with KURIER-TV, he sketches an unpleasant picture of his home country. “Austria has a few advantages in comparison. People are a little better when it comes to digitalization. The infrastructure is better positioned. And the economy is more diversified and less dependent on energy-intensive industries,” says Bonin. This offers a certain level of protection in difficult times.
If German companies now relocate locations abroad, then Austria can continue to trade with these companies. “They just no longer export to Germany, but to where these companies go.”
Austria is also more successful than Germany when it comes to bringing qualified workers into the country. “It offers a whole host of attractive opportunities across a wide range of careers. And Austria has opened up a bit in this direction in recent years.” The domestic economy benefits from this. “So the location and the working conditions as well as the tax issues can’t be that unattractive.”
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In general, according to the economic researcher, Austria has reached its economic bottom. “We’ve had a recession for several quarters now, it wasn’t pretty, but it wasn’t particularly severe either. If nothing really dramatic happens, then we’ll see more light at the end of the tunnel again this year.”