New figures show that Vienna’s international entrepreneurs do more than simply boost diversity in Austria’s capital city – they also significantly contribute to the local economy.
The Wirtschaftskammer (Chamber of Commerce) has revealed that business owners in Vienna with a migration background generate € 8.3 billion in revenue and create around 45,500 jobs.
Plus, these companies pay around € 3.7 billion every year in taxes and duties, reports ORF.
Walter Ruck, President of the Vienna Chamber of Commerce, said: “Companies with a migrant background not only enrich the diversity of the corporate landscape in Vienna, they are also an economic factor.”
Ruck added that more than 200 international companies move to the capital each year and said the diversity is helping Vienna to financially recover from the pandemic.
The Chamber of Commerce considers a business owner to have a migration background if they were not born in Austria and/or they have a non-Austrian nationality.
According to ORF, there are 34,000 entrepreneurs in Vienna with a migration background and 7,400 of those business owners have Austrian citizenship.
Additionally, 4,500 business owners have Slovakian nationality, 3,800 are from Romania and 2,600 have German citizenship.
The most popular business sector for people in Vienna with a migration background is retail, followed by real estate and technical services.