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Austria Location : Central Europe, north of Italy and Slovenia
Capital City : Vienna
Curreny : euro (EUR); Austrian schilling (ATS) note: on 1 January 1999, the European Monetary Union introduced the euro as a common currency to be used by the financial institutions of member countries; on 1 January 2002, the euro became the sole currency for everyday transactions within the member countries
Languages Spoken : German
Climate : temperate; continental, cloudy; cold winters with frequent rain in lowlands and snow in mountains; cool summers with occasional showers
National Holiday : National Day, 26 October (1955); note - commemorates the State Treaty restoring national sovereignty and the end of occupation and the passage of the law on permanent neutrality
Background Information
Once the center of power for the large Austro-Hungarian Empire, Austria was reduced to a small republic after its defeat in World War I. Following annexation by Nazi Germany in 1938 and subsequent occupation by the victorious Allies in 1945, Austria's status remained unclear for a decade. A State Treaty signed in 1955 ended the occupation, recognized Austria's independence, and forbade unification with Germany. A constitutional law of that same year declared the country's "perpetual neutrality" as a condition for Soviet military withdrawal. This neutrality, once ingrained as part of the Austrian cultural identity, has been called into question since the Soviet collapse of 1991 and Austria's entry into the European Union in 1995. A prosperous country, Austria entered the European Monetary Union in 1999.
Geographical Note
landlocked; strategic location at the crossroads of central Europe with many easily traversable Alpine passes and valleys; major river is the Danube; population is concentrated on eastern lowlands because of steep slopes, poor soils, and low temperatures elsewhere
Economy
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. Slowing growth in Germany and elsewhere in the world slowed the economy to only 1.2% growth in 2001; the economy is expected to do little better in 2002. To meet increased competition from both EU and Central European countries, Austria will need to emphasize knowledge-based sectors of the economy, continue to deregulate the service sector, and lower its tax burden.
Religions
Roman Catholic 78%, Protestant 5%, Muslim and other 17%
Ports : Linz, Vienna, Enns, Krems
International Disputes - Risks to travellers
: minor disputes with Czech Republic and Slovenia continue over nuclear power plants and post-World War II treatment of German-speaking minorities
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Austria
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