{"id":64696,"date":"2024-01-08T13:31:56","date_gmt":"2024-01-08T13:31:56","guid":{"rendered":"https:\/\/travelshelper.com\/austria\/?page_id=64696"},"modified":"2024-06-08T23:57:42","modified_gmt":"2024-06-08T23:57:42","slug":"economy-of-wattens","status":"publish","type":"page","link":"https:\/\/travelshelper.com\/austria\/wattens\/economy-of-wattens\/","title":{"rendered":"Economy Of Wattens"},"content":{"rendered":"\t\t
\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t\t\t\t
\r\n\t\t\t\t\t\t
\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t<\/path><\/svg>\t\t\t\t\t\t\t<\/span>\r\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div>\r\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t
\n\t\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n<\/svg>\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Economy\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Wattens is a town with a dynamic and diversified economy, based on its history, geography, industry, and innovation. The industry sector, which accounts for 60% of the town’s gross value added and 50% of employment, is primarily based on crystal, paper, and metal production. Other industries include electronics, engineering, and biotechnology. The sector is characterized by high quality, productivity, competitiveness, and international recognition.<\/p>

Services are the second most important and growing sector, accounting for 35% of the town’s gross value added and 45% of its employment. It is mainly based on tourism, trade, and business services, with other services such as health, education, and culture. The sector is characterized by diversity, creativity, flexibility, customer orientation, and social impact.<\/p>

Agriculture is the least important and declining sector, accounting for only 5% of the town’s gross value added and 5% of its employment. It is mainly based on the cultivation of crops and livestock, with organic and niche products like cheese, honey, and herbs. The sector is characterized by low intensity, sustainability, quality, local orientation, and cultural value.<\/p>

The town’s economy is performing well, with a high level of income, productivity, and competitiveness. In 2019, the town’s GDP per capita was 67,000 euros, higher than the national average and regional average. The town’s labor productivity was 133,000 euros, higher than the national average and regional average. The town’s export intensity was about 70% in 2019, higher than the national average and regional average.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\n\t\t
\n\t\t\t\t\t\t\n\t\t\t

\n\t\t\t\t\t\t\t\t\t\tSectors<\/span>\n\t\t\t\t\t\t\t<\/h2>\n\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t
<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

The economy of Wattens is organized into four primary sectors: industry, services, agriculture, and tourism. The industry sector plays a significant role in the town’s economy, contributing to about 60% of the gross value added and employing around 50% of the workforce. The Swarovski company is a dominant force in the industry sector, specializing in the production and sale of a wide range of crystal products. Their offerings include jewelry, accessories, figurines, optics, lighting, and art.The Swarovski company is the primary employer in the town, boasting a workforce of approximately 4,000 individuals. Additionally, it serves as the town’s leading exporter, with a staggering 90% of its sales being directed towards foreign markets. In addition to other companies like Wattenspapier, which specializes in rolling paper, and Tyrolit, a leading producer of abrasives, the industry sector encompasses a wide range of businesses.<\/p>

The services sector plays a significant role in the town’s economy, contributing around 30% to its gross value added and employing about 40% of its workforce. The services sector encompasses a wide range of activities, including trade, transport, communication, finance, education, health, and public administration. The services sector primarily focuses on local and regional markets, offering support and complementing the industry sector. The services sector also encompasses a range of forward-thinking and imaginative endeavors, like the Wattens Innovation Hub. This hub serves as a collaborative workspace and a forum for entrepreneurs, innovators, and industry specialists.<\/p>

The agriculture sector in the town is relatively small and follows traditional practices. It contributes approximately 5% to the town’s gross value added and provides employment to about 5% of the population. The agriculture sector is primarily situated in the rural and mountainous regions of the town, comprising of small and family farms. The agriculture sector primarily focuses on the production of crops, including cereals, potatoes, and vegetables, as well as livestock, such as cattle, pigs, and poultry. In addition to its main products, the agriculture sector also offers a range of specialty items, including cheese, honey, and schnapps.<\/p>

The tourism sector is a rapidly growing industry in the town, contributing significantly to its gross value added and employment rates.The tourism sector revolves around the Swarovski Crystal Worlds, the town’s primary attraction and one of Austria’s most popular destinations, drawing in approximately 1.5 million visitors annually. In addition to the tourism sector, there are various other attractions and activities available for visitors to enjoy. These include local museums and galleries, cultural landmarks, outdoor activities, and festivals. The tourism sector offers a wide range of facilities and services, including hotels, guesthouses, restaurants, cafes, and shops.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\n\t\t
\n\t\t\t\t\t\t\n\t\t\t

\n\t\t\t\t\t\t\t\t\t\tPerformance<\/span>\n\t\t\t\t\t\t\t<\/h2>\n\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\t\t\t
<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

Wattens demonstrates a robust and reliable economic performance, characterized by favorable and steady indicators, including GDP, employment, income, and trade. Wattens’ economic performance is shaped by a range of factors, including global and regional economic trends, sectoral and structural changes, innovation and competitiveness levels, and cooperation and competition dynamics. The economic performance of Wattens is outlined below:<\/p>