0
The Republic of Austria (Austria's official designation) is amongst the richest countries of the world (currently ranked number 12 in terms of GDP), because of its high overall level of development and its geographical location.
Austria's economy is a so-called social market economy with a well-developed industry and strong Labour movements. It heavily benefits from its membership in the European Union and its proximity to Germany (a large, highly developed and economically strong country).
As a popular destination for tourists from all over the globe, Austria creates a fairly large share of its revenue from the tourism and hospitality sector.
Austria's education system and its high academic standard (especially in regard to tertiary education) is another factor for the country's good overall economic situation (as a certain level of quality in education ensures a certain level of quality in professional activity).
In addition to the above-mentioned, it is the country's well developed social system, which ensures support for the portion of the population below a certain level of income and almost free access to schools and hospitals for the general population, which contributes to Austria's wealth.
As a highly developed and effective social system can serve as a kind of safety net for the population, which increases the chance of individuals to re-establish themselves within society after dropping out the of latter (in other words: it is easier for people, who have lost their jobs or who have become homeless to reverse this negative development and to restart).
This helps to battle poverty, to prevent social unrest and to counteract unemployment within the country and ensures a better social and also economic climate.
What else can I help you with?
Did roman people have baths in their houses?
Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.Yes, many of the wealthy had baths in their houses.
How wealthy is the UK?
wealthy.$228,000
Was naphtali wealthy?
yes he was wealthy
Which country did Adolf Hilter come from?
Adolf Hitler was born in Braunau, Austria.
How do you use wealthy in a sentence?
bill gates was very wealthy. (wealthy-very rich)
What is the Yiddish word for wealthy?
wealthy = Reich (רייַך)
Who controlled Florence Italy?
Wealthy merchant families ruled Florence. The Albizzi Family was prominent in Florence from 1382 to 1434. The House of Medici ruled from 1434 to 1737, when there were no more male heirs, after which Austria temporarily ruled Tuscany. Tuscany became a province of the United Kingdom of Italy in 1861.
Is wealthy a common noun?
No, the word 'wealthy' is not a noun. The word 'wealthy' is an adjective, a word used to describe a noun (a wealthycountry, a wealthy philanthropist).The word 'wealthy' is the adjective form of the noun 'wealth'.
How wealthy is Poland?
yes very wealthy
How wealthy are the countries of Jamaica?
wealthy was Amarica
Where doctors wealthy?
where doctors wealthy in the 1700
What is the parts of speech of wealthy?
Wealthy is an adjective.
