Until the early 1990s, tourism contributed substantially to securing income and employment in Austria and to balancing the country's current account. Austria's ability to make use of its tourist attractions disguised the structural weakness of its economy, which in turn delayed some of the...

Practicing sports as well as the organization of sports events generate considerable positive external effects which cause an inefficiently low provision of private funds and thus justify public interventions in the sports market. For instance, organising competitions and providing sports...