Economy and Infrastructure of Hall in Tirol

With an average annual growth rate of 2.4% between 2010 and 2019, Hall in Tirol’s economy has been steadily expanding in the past decade. In the same period the town’s growth rate above the average of Tyrol (1.9%) and Austria (1.7%). The expansion of the service industry, particularly in the sectors of health, education, and professional services, as well as the rise in tourism and consumer expenditure, were the key forces behind development. The town also gained from its close proximity to the regional center of innovation, research, and education, Innsbruck.

From the 13th century, when Hall in Tirol developed into a significant hub for trade and salt mining, it has long history of industrial manufacture. Reflecting the town’s significance in the salt business, the coat of arms displays two lions carrying a cask of salt. Hall in Tirol was among the most significant towns in the Habsburg Empire in the fifteenth and sixteenth centuries; it was also the first to issue huge silver coins, also referred to as Guldengroschen or thalers, which form the basis for several contemporary currencies like the dollar.Still among the main draws in the town today are its mint tower and museum.

Hall in Tirol grew into a varied industrial town in the 19th and 20th centuries, emphasising metal products, machinery, electrical equipment, chemicals, pharmaceuticals, food and drink.

Dominant Sectors

Comprising 77.4% of the GDP and 81.3% of the employment in 2019, the service sector is the main sector in Hall in Tirol’s economy as was already noted. Within the service sector, the most significant subsectors are:

Public services include public administration, military, education, health, and social work. In 2019 this subsector accounted for 28.8% of the GDP and 36.5% of the service sector employment. Among the public buildings Hall in Tirol boasts are the town hall, district court, tax office, police station, fire brigade, hospital, many schools and kindergarten.
Trade, transportation, and lodging; wholesale and retail trade, transportation and storage, lodging and food services, information and communication all fall here. In 2019 this subsector accounted for 25.6% of the GDP and 28.3% of the service sector employment. Along with a sizable goods train station and a bus terminal, Hall in Tirol boasts a thriving business and tourism industry with many stores, restaurants, cafes, hotels, and guesthouses.The town also boasts a newspaper as well as a contemporary media center housing many radio and television stations.
Professional services comprise administrative and support services as well as financial and insurance operations, real estate activities, scientific, technological, and technical activities. In 2019 this subsector accounted for 16.5% of the employment in the service sector and 23% of the GDP. Among the professional service providers Hall in Tirol offers are banks, insurance companies, real estate brokers, attorneys, accountants, consultants, engineers, architects, designers, and so forth.

Employment Landscape

High degree of employment, low level of unemployment, and high degree of education define Hall in Tirol’s employment scene. The most recent statistics from 2019 show Hall in Tirol employed 10,900 people overall, of which 5,800 were men and 5,100 were women. Higher above the average in Tyrol (74.4%), and Austria (72.6%), the employment rate—the ratio of employed persons to the working-age population—was 75.9%. Lower below the average of Tyrol (4.4%) and Austria (7.4%), the unemployment rate, the ratio of jobless persons to the labor force (employed plus unemployed persons), stood at 3.1%. With 38.4% having completed tertiary education (university or equivalent), 48.9% having completed secondary education (high school or equivalent), and 12.7% having completed primary education (elementary school or equivalent), the employed folks had a high degree of education.

From 70.7% in 2010 to 75.9% in 2019, Hall in Tirol’s employment rate has been rising consistently during the previous decade. Every year in the same period the town’s employment rate exceeded the average of Tyrol and Austria. The expansion of the service sector, particularly in the sectors of health, education, and professional services, as well as the rise in female labor force participation, which climbed from 66.4% in 2010 to 71.9% in 2019, were the key elements influencing the increase in employment.

From 5.1% in 2010 to 3.1% in 2019, Hall in Tirol’s unemployment rate has been slowly declining during the past decade. In every year during the same period, the unemployment rate of the town was lower than the average of Tyrol and Austria. The active labor market policies carried out by the town and the state, including job counseling, training, and placement services, as well as the great demand for skilled workers in the service sector, especially in the areas of health, education, and professional services, helped to explain the declining unemployment.

Infrastructure And Transportation

With a well-developed transportation system, Hall in Tirol helps people and products to be mobile both inside and outside of the town. The town’s transport system comprises:

Roads and highways linking the town to the remainder of Tyrol and Austria as well as to surrounding nations such Germany, Italy, and Switzerland. Situated on the A12 road, which winds the Inn valley and connects Innsbruck to Munich and Verona, the town is Several federal and state roads go through the town as well, which give access to the neighboring attractions. There are 84 km of roads in the town overall, 16km of which are motorways, 24km of which are federal roads, 28km of which are state roads and 16km of municipal roads.
Public transit gives town residents and guests quick and reasonably priced means of mobility. The town’s thorough bus system links it to Innsbruck and other surrounding cities and villages in addition to covering both urban and rural portions of the town. Part of the Austrian Federal Railways (ÖBB) network, the town also boasts a regional train station that provides consistent and frequent services to Innsbruck and other Tyrol and Austria locations. Part of the Innsbruck Regional Tram (STR) network, the town also boasts a tram line that provides direct and quick services to Innsbruck and other communities along the Inn valley. Additionally available in the area are many taxi and car-sharing programs, which give the consumers quick and flexible means of mobility.
Connectivity to surrounding regions improves the town’s appeal and accessibility both as a hub and destination. The town provides a wide spectrum of cultural, educational, and leisure activities in addition to an international airport that links the area to major European and worldwide cities. Innsbruck, the capital and largest city of Tyrol, is not far away. The town is also in the middle of the Alps, which provide a breathtaking natural landscape and a range of outdoor pursuits like climbing, bicycling, hiking, and skiing. Along with appealing commercial and trade prospects, the town is close to the borders of Germany, Italy, and Switzerland, which present varied and rich cultural and historical events.