In recent years, privatisation has reduced state holdings to a level comparable to other European economies.

[4] Vienna was ranked the fifth richest NUTS-2 region within Europe (see Economy of the European Union), with its GDP reaching €38,632 per capita.

[27] First Austrian Republic, founded as a result of the dissolution of Austria-Hungary, inherited an economy battered by the ravages of the First World War, namely: A number of international relief schemes failed to garner enough support[30] while a report by Sir William Goode argued that the Austrian economy would collapse without swift foreign intervention.

[28] Source:[30] With annual inflation running at 2,877%,[28] the League of Nations was officially appointed to organise an Austrian reconstruction plan in August 1922.

Austria would receive loans raised from international money markets and the Austrian public, which would be secured on customs and tobacco taxes.

Short-term effects were impressive; during the announcement to undertake Austrian reconstruction in August 1922, public confidence soared.

This allowed the Austrian Foreign Exchange Agency to finally intervene to fix the krone to the dollar, something that the wild gyrations of the past had not permitted.

Growth averaged 0.35% per annum until 1929,[30] unemployment leapt five-fold,[32] bankruptcies increased 41-fold,[33] and the trade deficit doubled.

[36] Membership brought economic benefits and challenges and has drawn an influx of foreign investors attracted by Austria's access to the single European market.

Many of the country's largest firms were nationalised in the early post-war period to protect them from Soviet takeover as war reparations.

Since 2019 the Österreichische Industrieholding (ÖBAG) administers the investments of the Republic of Austria in partially or entirely nationalized companies, but came under strong criticism after leaked messages showed how Thomas Schmidt had a say in the appointment of the supervisory board and became sole director.

However recent developments have brought a change, especially since winter ski resorts such as Arlberg or Kitzbühel are now more and more frequented by Eastern Europeans, Russians and Americans.

Expanding trade and investment in the emerging markets of central and eastern Europe is a major element of Austrian economic activity.

Although the big investment boom has waned, Austria still has the potential to attract EU firms seeking convenient access to these developing markets.

When analyzing the industries that have witnessed the most M&A activity in Austria, the financial sector emerges as a prominent player in terms of transaction value.

The financial industry has been the focus of significant M&A deals, with companies in this sector exploring opportunities to strengthen their market positions, expand their product portfolios, and enhance their capabilities.

On the other hand, when considering the number of transactions, the Industrials sector takes the lead, representing approximately 19.2% of the total M&A deals in Austria.

The strong presence of M&A activity in the Industrials sector signifies the ongoing interest in consolidating businesses, driving synergies, and fostering growth through strategic partnerships and acquisitions.

The M&A landscape in Austria continues to evolve, influenced by various factors such as market dynamics, economic conditions, and global trends.

As companies seek opportunities for expansion, diversification, and innovation, M&A transactions will remain a strategic tool for achieving their business objectives.