May 10, 2024
According to preliminary figures from Statistics Austria, 1 718 bankruptcies were recorded in Austria in the first quarter of 2024. Compared with the first three months of 2023, this represents an increase of around 30%.
„In the first three months of 2024, the number of bankruptcies rose to its highest level since 2019, when bankruptcy statistics began. There were a total of 1 718 bankruptcies in Austria in the first quarter of 2024, which is around 30% more than in the first quarter of 2023 and around a fifth more than in the previous quarter. The service sector was particularly affected, followed by construction and trade“, says Statistics Austria Director General Tobias Thomas.
Services sector, construction and wholesale and retail trade most affected by bankruptcies
By sector, financial services/other services (397), construction (330), wholesale and retail trade (298) as well as accommodation and food service activities (242) showed the most bankruptcies in the first quarter of 2024, with the number of bankruptcies generally highly depending on the number of active enterprises in the individual economic branch. Comparatively few bankruptcies were recorded in the sectors information and communication (62) and manufacturing.
Services sector with highest number of registrations
In the first quarter of 2024, 16 053 registrations of legal units were recorded, around 13% less than in the first quarter of 2023 with 18 466 registrations, but approximately 9 % more compared with the previous quarter (Q4 2023: 14 727). In contrast to an enterprise birth, the registration of a legal unit is part of an administrative procedure and is to be understood as a declaration of intent. It does not necessarily mean that an economic activity in the sense of turnover or employment will actually be taken up.
Financial services/other services (4 742), personal services (3 781) and trade (3 150) showed the most registrations in the first quarter of 2024. Rather few registrations were recorded in transportation and storage (595), accommodation and food service activities (885) and information and communication.
Source: Statistics Austria
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