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Tourism in Austria: Records in investments and funding
In difficult times, tourism in Austria is a stable economic engine. Growing grants and investments inspire the industry, which increasingly relies on sustainability and digitization.
Tourism in Austria: Records in investments and funding
At a time when many branches of industry are fighting with challenges, tourism in Austria shows a remarkable resistance. According to the Tourism State Secretary Susanne Kraus-Winkler (ÖVP), there is currently an important investment wave in this industry, which illustrates how crisis is the sector. The revised funding guideline of the Austrian Hotel and Tourismbank (OEHT) plays a central role in this.
The managing director of OEHT, Matthias Matzer, predicts that a total investment volume of 600 million euros could be generated with the help of the funding programs, with a budget effort of 21.4 million euros. This financing is primarily used for the support of loan rates, which inspires the industry and shows how enormous leverage can be achieved with relatively low means.
Regional impact and sustainability
The Oeht has established itself as an essential platform to promote commercial tourism in Austria, with the focus on small and medium -sized companies. A study has shown that 92 percent of the funding of Austrian companies will benefit, many of which are located in the area of 60 kilometers. This is a surprisingly high value, especially in the context of globalization and digitization, explains Matzer.
Kraus-Winkler emphasizes that tourism is indispensable for the Austrian economy. In regions with limited industrial presence, the tourism sector often performs over 90 percent of economic output. In order to further strengthen this sector, new funding opportunities were introduced, which support not only large, but also smaller investments from 100,000 euros. In addition, the funding criteria are now also geared towards sustainability: the interest subsidy at the "Green Tourism Credit" has been increased from two to three percent to add environmentally friendly investments.
Another step that Kraus-Winkler implemented last year was the introduction of the "ESG Data Hub". This is intended to provide clear and measurable data on sustainability in tourism. This is important to promote climate protection in the tourism sector. Current trends already show that more than half of the four-star hotels use renewable energies. In addition, the proportion of women in management positions in these companies is 57 percent, which is for a positive development in the industry.
For more information on these developments and the importance of tourism in Austria, interested readers can The current reporting on www.kleinezeitung.at read.