HOME::Business/International-Business
X

Freight Forwarding in Austria – The Bridging of East and West
By Stephen Willis
Stephen Willis
Stephen Willis
Level: Basic PLUS

Stephen Willis is Managing Director of R W Freight Services and has over 30 years experience in the International Freight and Shipping industry….

Article Word Count: 749 [View Summary] Comments (0)

Suggest a topic or article headline you would like the author to write about.

The land-locked country of Austria has an important position at the centre of Europe where it is a significant hub between East and West. The freight transport industry has evolved and developed in response to this increasingly important role, with new streamlined freight services available to facilitate trade between Austria and its trading partners in Eastern Europe.

Until the late 1980s, the government and its state owned industries played an important role in the Austrian economy but since the early 1990s. most of these state owned firms have been privatised either wholly or partially. Austria now has a well developed economy and is one of the richest countries in the European Union, fourth after Luxemburg, Ireland and the Netherlands.

In fact, Vienna is the fifth richest region in Europe, just behind Inner London, Luxemburg, Brussels and Hamburg. The sophistication and efficiency of the shipping companies and freight companies operating in Austria reflect the high standards that would be expected of such a rich and well developed country.

The economy of Austria is heavily integrated with neighbouring Germany and increasingly with the countries to its east. The freight transport industry has established connections and networks to ensure that freight transport is effective within these regions.

The economy in Austria has been growing well, with growth of around 1% per annum during 2001-2003 but then accelerating to nearly 3% in 2004 and 2005.This was fueled by booming exports and primarily higher growth in Central and Eastern Europe.

Having joined the European Union in 1995, and adopted the Euro in 2002, the effects of European integration on the economy of Austria have been highly positive. Trade with other European Union countries accounts for nearly three quarters of Austrian imports and exports, dominating the country’s international freight.

Expanding trade and freight forwarding with the new EU members of central and eastern Europe that joined the EU in May 2004 and January 2007 make up a major element of Austrian economic activity and account for 14% of all trade activity. In addition, Austrian firms have made sizeable investments in these countries and there is a trend towards moving labour intensive low tech production to these countries of central and eastern Europe. In fact, about half of Austria’s foreign direct investment is in the countries of central and eastern Europe. The focus of development in the freight services sector has mirrored this trend.

Although the boom years have now passed, Austria still has the potential to attract international firms seeking convenient access to developing markets in eastern and central Europe and the Balkan countries. Approximately 350 United States companies have made investments in Austria, most with this in mind, and there is scope for considerable further expansion of Austria’s role as a bridge between east and west.

Apart from within the European Union, there is significant trade with the United States and so there are also many shipping companies serving this sector of the international freight market. The total value of trade with the United States is 13 billion dollars. Imports from the United States total over 5 billion and exports to the United States were nearly 8 billion in 2007.

Although there are some large iron and steel producers, chemical plants and oil corporations, most enterprises in Austria are relatively small.

The service sector is very important in Austria and generates the majority of its Gross Domestic Product. This includes, for example, finance, consulting and law firms in Vienna which also operate in central and eastern Europe. Very well known Austrian firms include AKG Acoustics, Wienerberger, Red Bull, Swarovski and Doppelmayer. The freight transport industry has evolved to serve the needs of this diverse market, connecting producers with markets in the east and west.

Austria has a unique position as an East-West hub. It also has a unique position as a moderator between industrialised and developing nations and has been active in bridge building to the east, increasing contacts at all levels with Eastern Europe and the states of the former Soviet Union.

In this way the role of Austria as hub between East and West is about more than simply its geographical position and its tradition of neutrality has allowed the country to develop a role as broker and moderator between the developed counties of the West and the emerging economies of the East. The combination of these factors create perfect conditions for the growth of the freight services industry in Austria as the importance of its hub position consolidates in future.

Stephen Willis is Managing Director of RW Freight Services a UK based freight transport company, established in 1971 and operating worldwide freight forwarding services including specialist freight services to and from Austria.

Article Source: http://EzineArticles.com/?expert=Stephen_Willis

Stephen Willis – EzineArticles Expert Author

Other Recent EzineArticles from the Business:International-Business Category:

* Advantages and Challenges of Globalization
* Product Strategies For International Business Marketing
* A Guide to the Offshore Europe Bi-Annual Exhibition & Conference
* Getting Involved With Export Import
* Doing Business in Singapore
* What Are Multinational Enterprises (MNEs)
* Importance of Globalization
* International Bank Transfers
* Manufacturing Sourcing and Sampling
* How to Find the Right Document Translation Services Company
* Private Space Flight Enterprises Must Work Together – International Business Topic
* How the Experts Get Foreign Dollars Into US Projects
* International Business Advantage to Outsourcing Administrative Service to Opposite Time Zones
* International Shipping Industry Will Return
* Sourcing For Trade Leads Online

Most Viewed EzineArticles in the Business:International-Business Category (90 Days)

1. Buying Wholesale Flip Flop Sandals From China – The Top Three Pitfalls to Avoid
2. International Trade – Importance of Letter of Credit
3. How to Get Started in Import Export Business
4. Looking to Transfer Money to Pakistan? Find Out What’s Legal and What’s Not
5. Wooden Pallets For Export – Making Sense of Bark Restriction ISPM-15 Mandate
6. Export Trading – What Are Exporting Advantages
7. Islamic Banking – Key Differences of Components Within a Financial Statements of an Islamic Bank
8. Import From China – British Or Chinese Tyres?
9. Import From China – Bicycles
10. Japanese Culture Tips
11. How to Import Goods Easier From China
12. An Introduction to International Trade
13. Starting Business in South Korea
14. Tips on Freight Forwarding Company and Third Party Logistics Vendor Selection
15. Opportunities in Russia For Energy and Technology Business

Most Published EzineArticles in the Business:International-Business Category

1. International Payments – Some Commonly Used Methods For International Export
2. Import From China – Bicycles
3. Air Freight Carriers – What Do They Do?
4. Indian Biotech Industry on the Roll
5. Top 10 System Features For Direct Filing ISF
6. East African Fiber Optic Cable – The Opportunities
7. The Good and Bad About Letters of Credit
8. Buying Wholesale Flip Flop Sandals From China – The Top Three Pitfalls to Avoid
9. Foreign Qualification For Your LLC is a Vital Business Component
10. Fair Trade Works Wonders
11. A New Star in Translation Field – Finnish Translation
12. Islamic Banking – Key Differences of Components Within a Financial Statements of an Islamic Bank
13. Silk Road Open For Business Again
14. LC Makes International Trade Easy
15. The Basics of Shipping Products Overseas

This article has been viewed 6 time(s).
Article Submitted On: July 27, 2009

Please Rate This Article: Votes | Average: 0 out of 5 Votes | Average: 0 out of 5 Votes | Average: 0 out of 5 Votes | Average: 0 out of 5 Votes | Average: 0 out of 5 (No Ratings Yet)
Loading … Loading …

* MLA Style Citation:
Willis, Stephen “Freight Forwarding in Austria – The Bridging of East and West.” Freight Forwarding in Austria – The Bridging of East and West. 27 Jul. 2009. EzineArticles.com. 8 Aug 2009 .

* APA Style Citation:
Willis, S. (2009, July 27). Freight Forwarding in Austria – The Bridging of East and West. Retrieved August 8, 2009, from http://www.ezinearticles.com/?Freight-Forwarding-in-Austria—The-Bridging-of-East-and-West&id=2668213

* Chicago Style Citation:
Willis, Stephen “Freight Forwarding in Austria – The Bridging of East and West.” Freight Forwarding in Austria – The Bridging of East and West EzineArticles.com. http://www.ezinearticles.com/?Freight-Forwarding-in-Austria—The-Bridging-of-East-and-West&id=2668213

Stephen Willis is Managing Director of RW Freight Services a UK based freight transport company, established in 1971 and operating worldwide freight forwarding services including specialist freight services to and from Austria.

Article Source