Austria is the 12th richest country in the world in terms of GDP (Gross domestic product) per capita, has a well-developed economy, and a high standard of living.
In recent years, however, privatisation has reduced state holdings to a level comparable to other European economy. Labour is particularly strong in Austria and has large influence on labour politics. Next to a highly developed industry, international tourism is the most important part of the national economy.
Germany has historically been the main trading partner of Austria, also Austria ranked 9th worldwide in international tourism.
In Austria, anyone above the age 15 can get a job and respectively after completion of compulsory School. Before completion of compulsory school, young people above 15 maybe employed in certain cases such as apprenticeship or practical training.
Children and young people up to 18 are covered by child and youth employment legislation.
Since 1 July 2011, the immigration of skilled workers from around the world interested in relocating to Austria has been made possible by the “Rot-Weiß-Rot – Karte” (Red-White-Red Card system). This criteria-led immigration system (points system) allows qualified workers from third countries (another system applies to people from EU member states, Iceland, Liechtenstein, Norway and Switzerland) and their family members to permanently immigrate to Austria.