GLOBALISATION 44 JUNE 2016 © Pixabay, Freepik, dhl THE POLITICAL DIMENSION This is yet another dimension where Austria scored a top position, namely 5th place, following Italy, France, Belgium, and Spain. This position can be explained by Austria’s strong commitment to the United Nations, diplomatic efforts and prioritisation as well as the fact that one of the UN’s headquarters is based in Vienna. FROM THE PERSPECTIVE OF THE WKO STAFF DEPARTMENT FOR ECONOMIC POLICY All in all, Austria’s 4th position in the overall ranking is an encouraging result. As a small and open economy, Austria is a clear winner of globalisation – on an economic, social, and political level. However, Austria followed the (predominantly European) trend and had to accept minor losses in the economic dimension. Nevertheless, foreign trade and investments remain immensely important for small economies like Austria. They both create and ensure jobs and therefore contribute to the country’s strength as a business location. Therefore the further strengthening of exports as well as the motivation and support of exporting companies are to be welcomed. The framework conditions for the social and political dimensions of globalisation are very encouraging, and they are perfectly positioned and incorporated into everyday life to ensure that Austria emerges as a clear winner of globalisation. Breaking down borders Austria is particularly affected by the globalisation of the global economy and the increasing internationalisation of the competition. National and international borders become increasingly less important.
NEW BUSINESS - EXPORT TODAY 1/2016
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