note
on 1 January 1999, the EU introduced the euro as a common currency that is now being used by financial institutions in Austria at a fixed rate of 13.7603 Austrian shillings per euro and will replace the local currency for all transactions in 2002
Languages:
German
Elevation:
highest point: Grossglockner 3,798 m
lowest point: Neusiedler See 115 m
Climate:
temperate; continental, cloudy; cold winters with frequent rain in lowlands and snow in mountains; cool summers with occasional showers
Austria with its well-developed market economy and high standard of living is closely tied to other EU economies, especially Germany's. Membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to EU aspirant economies. In 2000, Austria moved to further cut government spending and raise taxes to meet EMU deficit targets after facing unexpected difficulties in reducing the public deficit. To meet increased competition from both EU and Central European countries, Austria will need to emphasize knowledge-based sectors of the economy and continue to deregulate the service sector. Growth is expected to remain at about 3% in 2001.
Industry:
construction, machinery, vehicles and parts, food, chemicals, lumber and wood processing, paper and paperboard, communications equipment, tourism
Ethnicgroups:
German 98%, Croatian, Slovene, other (includes Hungarians, Czechs, Slovaks, Roma)
Vaccination requirements:
No vaccination requirements for any international traveller.
