The 4.5 billion mark is blown up in Lower Austria!

The 4.5 billion mark is blown up in Lower Austria!

Niederösterreich, Österreich - The undeclared work in Austria accepts worrying proportions. According to the economics expert Friedrich Schneider from the University of Linz, a record amount of 4.57 billion euros is estimated in the shade of the official economy for 2023 in Lower Austria. This corresponds to an increase of 280 million euros or 6.5 percent compared to the previous year, which is due to the tense economic environment that forces many people to pursue additional income to cover their living costs.

The majority of this undeclared work does not apply to the construction industry and the building industry, which only costs 1.78 billion euros with . Other significant areas are the hairdressing industry and household services that together make up 777 million euros , as well as commercial and industrial companies, hotels and restaurants, which each contribute 731 million euros to the shadow economy. The entertainment and amusement industry also contributes to the overall balance with 548 million euros .

7.5 percent , while the EU average has increased in recent years and 18.50 percent is estimated for . A comparison shows that only Luxembourg and the Netherlands, which are in second and third place with 8.91 percent and 9.61 percent , have a higher shadow economy than Austria.

undeclared work in Austria generates sales of around 34.5 billion euros , which corresponds to an increase of 1.25 billion euros compared to the previous year. This means that the state and social security are losing 2 to 3.5 billion euros annually. Practically 85 percent of the “black” money generated are immediately spent in the official economy.

causes and measures

The increase in undeclared work is promoted in particular by the persistent recession, high inflation and an expected increase in unemployment. These factors mean that undeclared work is considered a buffer against loss of income. In 2024, the scope of the shadow economy is estimated at 40.7 billion euros , which corresponds to 8.1 percent of official economic output.

In order to counter the undeclared work, some suggestions have already been discussed. This includes the reintroduction of the craftsman bonus of 2,000 euros per budget and year as well as the reduction in non -wage costs. These measures could help reduce the phenomenon of undeclared work and to stabilize the official economy.

Finally, it can be said that undeclared work in Austria is a complex problem that is due to a variety of economic and social factors. The increase could be slowed down by targeted political measures.

For further information we refer to the main reports of Oe24 , The press and The press .