23.07.2021

Economic Development in the Austrian Provinces in 2020

Regional Economic Development in the Wake of the COVID-19 Crisis

The economic slump triggered by the COVID-19 crisis hit the Austrian provinces to varying degrees. This is mainly due to the extent to which individual sectors were affected by the crisis, as well as to differences in the regional economic structure.

Due to their different economic structures, not all Länder were affected by the COVID-19 crisis to the same extent in 2020. According to the latest WIFO flash estimate, gross value added (excluding agriculture and forestry) shrank most in Tyrol (–9.2 percent compared with 2019), Salzburg and Styria (–6.8 percent each) in 2020. Accordingly, the economic slump was weakest in the eastern region (Vienna, Lower Austria, Burgenland; –5.7 percent on average). The western region (Vorarlberg, Tyrol, Salzburg, Upper Austria –7.0 percent) was also hit harder than the south of the country (Styria, Carinthia –6.4 percent).