A Tourism Satellite Account for Vienna. The Economics, Methodology and Main Results for 2007

Tourism plays an important role in Vienna's economy. According to the Regional Tourism Satellite Account for Vienna developed by Statistics Austria and WIFO the total expenditure for holiday and business trips, visits to friends and relatives as well as trips to weekend houses and second homes amounted to 3.60 billion € ( +4.8 percent above the previous year). From this total about 55.5 percent can be allotted to Austrian travellers, 40.3 percent to foreign guests and 4.2 percent to money spent by domestic travellers whilst staying in their second home. The direct added value of tourism in Vienna amounted to 1.19 billion € (+6.2 percent). On a purely mathematical basis this is equivalent to 1.6 percent of the total regional product. When taking into account the indirect effects, the tourism sector in Vienna in 2007 contributed 3.96 billion € to the total regional economy (5.5 percent) on the basis of the input-output table for 2000.