The economy of Austria is a highly developed social market economy, with the country being one of the fourteen richest in the world in terms of GDP per capita. Until the 1980s, many of Austria's largest industry firms were nationalised. In recent years, privatisation has reduced state holdings to a level comparable to other European economies.

Vienna is the capital, most populous city, and one of nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. Its larger metropolitan area has a population of nearly 2.9 million, representing nearly one-third of the country's population. Vienna is the cultural, economic, and political center of the country, the fifth-largest city by population in the European Union, and the most-populous of the cities on the Danube river.