Corruption in Austria

in Business Risk

A study by the opposition Green Party in Austria stated that corruption created a $22 Billion (€17 Billion) economic impact on the country’s economy. The effect of corruption was about 5 percent of Austria’s total economic output.

According to the Organization for Economic Cooperation and Development, Austria has not convicted a single citizen for foreign bribery crimes since the country ratified the Anti-Bribery Convention in 1999.

Source: Jonathan Tirone, “Corruption Shaves 5% Off Austria’s Economy, Greens Say,” Bloomberg, January 9, 2013.

Previous post:

Next post: