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ECONOMY

Diversity and jobs: How migrants contribute to Vienna’s economy

International business owners in Vienna bring in billions of euros in revenue and taxes each year, according to a recent survey by the Chamber of Commerce.

Diversity and jobs: How migrants contribute to Vienna's economy
Vienna's economy is boosted by entrepreneurs with a migrant background. (Photo by Jorge Franganillo on Unsplash)

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.

READ MORE: Austrian presidential elections: Why 1.4 million people can’t vote

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.

READ ALSO: What are the rules on working overtime in Austria?

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.

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WORKING IN AUSTRIA

EU takes action against Austria on working rights

Austria comes up short in areas such as 'transparent and predictable working conditions' and 'promotion of equality in the labour market', the EU Commission has said.

EU takes action against Austria on working rights

The EU Commission has reprimanded Austria on several labour market issues, according to a press statement by the Brussels-based authority.

Austria is lagging in properly implementing EU regulations in “transparent and predictable working conditions” and “promotion of equality in the labour market”.

After the European Union sends out directives to member states, it also sets a deadline for the countries to bring the EU-agreed rules to the national level.

READ ALSO: 10 ways EU countries aim to cut energy bills and avoid blackouts this winter

The first directive for “transparent and predictable working conditions” provides more extensive and updated labour rights and protection to the 182 million workers in the European Union.

The EU Commission stated: “With the new rules, workers have, for instance, the right to more predictability regarding assignments and working time. They will also have the right to receive timely and more complete information about the essential aspects of their job, such as place of work and remuneration”.

Austria and 18 other member states have failed to communicate the complete transposition of the directive into national law by the deadline of August 1st.

READ ALSO: 10 ways EU countries aim to cut energy bills and avoid blackouts this winter

Promotion of equality in the labour market

Additionally, Austria has failed to notify national measures transposing the “Work-Life Balance Directive” by the EU and has been notified along with 18 other countries.

The directive “aims to ensure equality in labour market participation by encouraging equal sharing of care responsibilities between parents”.

“It introduced paternity leave, ensuring that fathers/second parents have the right to take at least ten working days of paternity leave around the time of birth of the child. The Directive also establishes a minimum of four months of parental leave, with at least two of the four months non-transferable from one parent to another.

READ ALSO: Non-EU family members of EU citizens can obtain long-term residence, court rules

“It establishes five working days per year of carers’ leave for each worker providing personal care or support to a relative or person living in the same household and gives all working parents of children up to at least eight years old and all carers a right to request flexible working arrangements.”

The Austrian federal government now has two months to respond to the EU Commission’s letter of formal notice, otherwise, it faces another warning – and could eventually see its case going to the European Court of Justice.

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