It is relatively simple to prove to an outside observer the quality of Austrian wine. The Austrian Wine Marketing Board has a well-oiled machine of international tastings, giving clear demonstrations of superior winemaking. Demonstrating economic impact, however, is rather less direct, instead trying to show long-term and large-scale effects that cannot simply be poured into a glass.
The trade body therefore instructed the Economica Institute of Economic Research to examine the economic benefits of Austrian wine production, with its results for 2023 just published. They show a headline figure of €3.8bn gross added value for the economy from Austrian wine. In breaking down the industry’s different influences, it has further delineated a complex picture of economic gain.
“The economic significance of wine extends far beyond what’s poured into a glass,” explains Chris Yorke, CEO of the Austrian Wine Marketing Board. “There is a whole economic ecosystem that revolves around wine, including the wineries themselves, tourism, the retail sector and the catering industry. It is this combination of direct and indirect effects that makes wine such an important driver of our economy,”
Wide-ranging impact
That headline figure is hugely significant in itself: €3.8bn equates to 0.9% of the country’s total economic output. Hospitality and on-trade businesses are the greatest beneficiaries, with Austrian wine adding €1.5bn of value added to that sector of the economy. Agriculture follows in the rankings, with added value of €390 million, or 7.5% of Austria’s total agricultural output. This is closely followed by the wholesale trade, which saw an uplift of €353 million in the year thanks to wine.
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