Economy
As elsewhere in the developed world, there has been a shift away from the manufacturing sector towards the service sector in Styria. This has had negative consequences for the industrial regions of upper Styria which have suffered a steady decline in population in recent years. In 2004 Styria had the strongest economic growth rate in Austria at 3.8% - mainly due to the Graz area which saw strong economic growth that year and has continued to grow in economic and population terms since then.
Styria is home to more than 150 cleantech companies, of which one dozen are world technology leaders in their field. The cleantech revenue of Styrian companies totals €2.7 billion. This equals to 8 percent of the Gross Regional Product (GRP), and is one of the highest concentrations of leading clean technology companies in Europe. The companies have an average (real) growth rate of 22 percent per year—well above the worldwide cleantech market growth of 18 percent per year. The region created roughly 2,000 additional green jobs in 2008 alone.
Read more about this topic: Styria
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)