Economic Impacts of Tourism in Austria

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Vienna Austria
Introduction to the city
Vienna is located in the Northeast corner of Österreich, or Austria. Austria is landlocked and bordered by eight countries: Germany, the Czech Republic, Slovakia, Hungary, Slovenia, Italy, Switzerland, and Liechtenstein. Austria has nine states with Vienna being one of them. Of Austria’s 8.3 million people, 1.7 million of them live in Vienna. It is the country’s largest city and capital. Because the city lies on the Danube River, it is a major shipping port for Europe, moving about 12 million tons of cargo a year. Since Vienna is inhabited by one fifth of Austria’s population, it accounts for more than one fourth of the country’s economic performance. The structure of Vienna’s economy is characterized by the enormous significance of the service sector, which accounts for 83% of gross value added (GVA).

Due to its centralized location in Europe, Vienna and other Austrian cities have become popular tourist spots for vacationing Europeans in addition to tourists from other continents. People visit Vienna for its cathedrals and palaces. One of the most popular is the Schönbrunn Palace, which was completed in 1711. The palace and attached zoo had approximately 2.5 million visitors in 2008. Visitors are also attracted to Vienna’s museums such as the Albertina and the Museum of Fine Arts both with almost 1 million visitors each in 2008. Another reason people travel to Vienna is for The Prater. It is an amusement park that dates back to the 1700s. In The Prater, the main attraction is the Giant Ferris Wheel which brought in about 660,000 visitors in 2008. Positive Impacts

Local Economy
Vienna brings in a massive amount of tourism money into both the city and its surrounding areas, causing this region to have secure and stable economic growth. Vienna is recognized as one of Europe’s most successful city destinations by adding an approximate four billion Euros to the economic wealth. “This is almost 6 per cent...
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