Economy on the abyss: Records of the company slides in Austria!

Economy on the abyss: Records of the company slides in Austria!

The economy in Austria is on the abyss! In 2024, the country experienced a dramatic increase in corporate slides, with around 6,700 bankruptcies, which corresponds to shocking growth of over 20 percent compared to 2023. The trade, which recorded 1,200 bankruptcies alone, was particularly affected. But the construction and service sector also suffered greatly from this misery, while private bankruptcies decreased slightly, but this was mainly due to the good labor market situation and state support. Kommr Petra Wagner, who heads the liberal economy Burgenland, emphasizes: "The Austrian companies are increasingly running out of air!"

The high energy prices, rising wages and the exuberant bureaucracy are significantly increasing the companies. According to the Creditreform creditor protection association, almost 1,100 bankruptcies were added to the construction industry and company services. These alarming numbers show that the economic situation is serious and are urgently needed to secure the stability of the companies, as bauelustrie.de Despite the acute requirement for apartments and infrastructure, the crisis has been further tightened by the increasing costs and interest due to the Ukraine War.

The construction industry, which has mainly been in the upswing in recent years, is now facing another challenge. After a decades of boom, followed by a long -lasting recession, the industry now has to deal with the dramatic consequences of international conflicts and a stressful market situation. KommR Wagner therefore demands rapid action of the still non -governing political leadership in Austria in order to stabilize the economy and to present urgently needed initiatives to strengthen companies. The situation requires quick and effective management to slow down the waves of the bankruptcy and to provide the companies new breathing air!