Social security

Austria's good industrial relations stem from the social partnership system, established in the fifties, under which problems are settled by negotiation. Agreements negotiated "around the table" by representatives of labor and industry (the Austrian Federal Economic Chamber, the Federal Presidential Conference of Chambers of Agriculture, the Federal Chamber of Labor and the Austrian Trade Union Federation) are the reason for Austria's history of moderate wage increases.

The World Competitiveness Yearbook also shows Austria in an excellent light. This managers' survey ranks Austria's image abroad before the economic powers Germany, United Kingdom, Japan and USA.