Vienna plummets in income ranking
The Local · 15 Dec 2015, 10:15
Published: 15 Dec 2015 10:15 GMT+01:00
- Austrians 'have more money than Germans' (29 Sep 15)
- Third of Austrians struggle to pay bills (17 Nov 14)
The capital now has the lowest level of disposable income after cash-strapped Carinthia.
For the first time since records began Austria’s westernmost state Vorarlberg has the highest disposable income per capita of €23,300, according to new data from Statistik Austria. This was attributed to its strong manufacturing industry and the fact that many people from Vorarlberg travel to Switzerland to work.
Households in Tyrol are also doing relatively well with a disposable income of €22,100, due to its strong service and tourism industry which has seen employment rise in the region.
The average Vienna resident has a disposable income of €21,800, below the Austrian average of €22,300 and not much more than a resident of Carinthia (€21,500) - the southern state which is facing possible bankruptcy and has seen a decline in tourism.
Ten years ago, Vienna was Austria’s richest state. Last year the capital grew by about 27,500 people, half of whom were students and unemployed people. At the same time the wholesale and retail trade has declined, as has transportation and storage.
The good news is that Vienna still has the highest Gross Regional Product per capita (GRP) at €47,300, followed by Salzburg (€45,200) and Vorarlberg (€41,500).
Statistik Austria said that between 2000 and 2004 the average disposable income in Austria rose by almost 50 percent. The number of employed people increased the most in Tyrol, Vorarlberg and Salzburg.
A boost to the average income is expected next year when the new tax law comes into force.