Far East Markets. Attractive for Austria in Spite of the Crisis

Towards the end of 1997, a financial and currency crisis erupted in the Far East. But once current problems have been overcome, the affected countries can be expected to enjoy a brisk upswing. A WIFO survey, made at the height of the crisis, found that 62 percent of the responding companies felt that exports to the Far East would rise, while 29 percent expected no change. Among direct investors, the majority considered that the situation was stable. Austria has so far profited little from the economic upswing of the region: exports to the region (excluding Japan) are a meager 3 percent.