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International Business Essay

864 words - 4 pages

Executive Summary:
Austria is a developed nation with stable development of GDP, however, Austria experiences economic downturns since 2009, but the economy recovers from 2010. Austria rely on high levels of other European country, especially German, therefore, investment has certain degree of risk. If the businesses expanded into Austria and major market is European countries, transportation takes advantage because Austria locates in the central of Europe. In general, political stability, wealth of overall country, high level of export and import, and advantageous energy supply provide favorable environment of foreign investment.
Country Description
In general, Austria has advantage ...view middle of the document...

The tariff for Austria is 17% to 25% if the stuff is not produced or manufactured in Austria.
Economic conditions and Stability:
The largest export and import partner is German as it accounts for 32.49% and 43.61% of global exports and imports by Austria in 2008, respectively. (GlobalEDGE, 2010) Exports to Germany grows 48.1% over the last 5 years, at the same time, imports from Germany grows 51.25%.
Cultural issues:
Due to Austrian official language is German, Business card and key points listed in the handout of business presentations should be printed by both English and German. Generally, cultural differences almost do not exist in Austria and Canada. To be precise, Austrians tend to plan ahead and schedule appointments. People should arrive at meetings on time or slightly early, and all business activities should avoid August or the time around Christmas holidays. In addition, process is approached in a flexible manner as Austrians tends to achieve the goals instead of focusing on the process. Austrian avoid to introduce themselves to others when they attend social engagements as they usually wait for other's introduce.
Factor Endowments:
Austria has large market for selling products because Austria has a favorable geographical position as the central location of Europe, and the country is famous for tourist industry. Therefore, tourists can be purchasing population.The transportation expenses should be low if the goods are transported to other European countries. As well Austria ranked 11out of 155 countries for International Logistics Performance Index(LPI), therefore, it represents Austria has efficient ability of transporting goods to other countries. (World Bank, 2012)The rich natural resources and appropriate climate are another...

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