"Regional forecasts for 2021 are not available. However, WIFO tends to expect a somewhat more favourable development for Upper Austria in 2021 than for Austria as a whole, because the difficulties faced by industry, which dominated in spring 2020, are not likely to be as great in the current lockdown," said WIFO Director Christoph Badelt.
According to Badelt, however, there is no absolute certainty in the development of sales markets, such as Germany. In addition, there is increasing competition from rising emerging markets such as China in high-value, technology-related market segments. Thus, the industry in Upper Austria will have to consider with which products it will still be globally competitive.