Competitiveness of Austrian Industry with Continued High Energy Prices

The study results presented on 12 July 2023 by Karlheinz Kopf, Secretary General of the Austrian Federal Economic Chamber, Gabriel Felbermayr, Director of WIFO, and Werner Hölzl, author of the study, at a press conference suggest that permanently higher energy prices will lead to declines in industrial production and employment, as well as increase the risks of offshoring of energy-intensive production stages.

This increases the challenges of decarbonisation while maintaining industrial competitiveness. Keeping Austria attractive as industrial location even with persistently higher energy prices, is necessary to ensure continued business investment.

Further press material from the Austrian Federal Economic Chamber can be found here.