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Excerpted from the Austria Career Guide

Cost of Living

The Austrian economy is one of the world’s most durable economies. It weathered the recent recession well and, despite current global economic uncertainties, it remains stable. The GDP (Gross Domestic Product – a measure of wealth) will experience positive growth this year and inflation is expected to remain below 2 percent.

Housing

Most people in Austria, whether citizens or expats, live in rental housing. Although in general price increases are slowing across Austria, rents are increasing rapidly. In Vienna, where the majority of Austrians live, rents have risen 5 percent in the past year.

Transportation

Austria is a small country, and it has a good public transportation system. The core of the national public transport infrastructure consists of integrated bus and train networks operated by the state-owned company ÖBB (Österreichische Bundesbahnen) or Austrian Federal Railways.

Medical Care/Health Insurance

The most recent Euro Health Consumer Index ranks the health care systems of 34 European nations based on patient rights and information; accessibility to health services; health outcomes; the range and reach of provided services; and pharmaceuticals. Within this ranking, Austria’s health care system placed tenth.

Work Schedules and Holidays

Employees in Austria are entitled to a paid annual holiday of 25 working days. This entitlement increases to 30 working days after 25 years' of service.

Taxes

In Austria, employment income is taxed at a progressive average rate of up to 50 percent. The level of income tax depends on the taxable income received in a calendar year.

Social Security and Pension

Employees are required to pay contributions (deducted by their employers) to the sickness, unemployment and pension insurance schemes. Contributions are calculated as a percentage of earnings; an assessment ceiling is set annually.

This is just a short sample of what you’ll find in over 100 pages of information in the Austria Guide.



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