Austria: Businesses equipped to deal with crisis
Article Abstract:
According to the Osterreichische Nationalbank (OeNB) financial market stability report, most Austrian companies are well equipped to deal with the economic crisis. Whilst larger companies have had a slight decrease, small and medium sized companies have increased their equity capital in the last few years preceding 2002. The heavily indebted tourism industry has even managed to improve its return. The equity capital for three star establishments is minus 27% which is a slight improvement. The equity capital for four and five star hotels has improved form minus 8.5% to minus 7%. Austrian banks only need make a relatively slight allowance for bad debt. Only 1.15% of debts owed to the banks were without return or interest in 2000.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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Austria: Shortage of 100,000 chefs for tourist industry
Article Abstract:
It is expected that in the winter tourist season 2001/2002 in Austria there will be a shortage of 100,000 chefs, although the country expects a record number of winter tourists. Particularly seasonal hotels will have problems finding chefs, as the success of areas such as Styria, which are not traditional winter tourism areas, have experienced a boom, meaning that chefs who are employed there in the summer can also stay there for the winter. Austrian chefs are also in demand internationally but retire relatively early. The chairman of the union for hospitality workers in Austria claims that if the hotels would pay a better wage, they would be able to employ chefs.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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Austria: Winter tourism successful
Article Abstract:
A good year for snow and the consequences of 11 September 2001 have contributed to the fact that many Austrian winter tourism areas are fully booked for the Christmas and New Year period of 2001/2002. The province of Styria expects its fifth record winter in a row, while Carinthia, southern Lower Austria and Salzburg have better bookings than in 2000.
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2001
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