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Vienna as an Important Location for Corporate Headquarters? A Benchmarking Study

02/07/2024

We are excited to announce the release of our latest report coauthored by our team members Martin Sehner, Phillip C. Nell, and Jan Schmitt.

In this report, we compare Vienna as a prime location for corporate headquarters (CHQs) to other major European cities, considering geographical location, demographic characteristics, and economic performance. Specifically, we benchmark Vienna against Munich, Zurich, Milan, Budapest, Prague, and Warsaw, drawing on data from the “Orbis” database (Bureau van Dijk) and additional publicly available sources such as Eurostat.

Our main findings are as follows:

  • Vienna as a Strategic Bridge: Vienna stands out as a crucial CHQ location, bridging Western and Eastern Europe. The urban area of Vienna and the surrounding metropolitan area host 152 very large CHQs. Key industries include Manufacturing, Wholesale and Retail Trade, Real Estate, and Finance and Insurance, with major companies like OMV, Verbund AG, Erste Group, Raiffeisen Bank International, and Strabag highlighting Vienna's economic strength.

  • Western Hubs with Global Impact: Milan, Munich, and Zurich are pivotal CHQ hubs with global business operations. Milan is at the forefront and hosts 306 very large CHQs, with a diverse mix of industries. Notable companies include UniCredit S.p.A. and Pirelli & C. S.p.A. Munich follows Milan as the second largest CHQ location and hosts 223 very large CHQs, including giants like BMW and Siemens. Zurich hosts 141 very large CHQs, with a significant presence in Manufacturing and Finance and Insurance, including UBS Group AG and Zurich Insurance Group AG.

  • Emerging Eastern Hubs: Budapest, Prague, and Warsaw are important CHQ destinations with significant international and regional influence but host fewer CHQs than the Western hubs. In particular, Budapest hosts 43 CHQs, Prague 52 CHQs, and Warsaw 48 CHQs. These cities exhibit similar profiles, with lower GDPs and fewer very large CHQs compared to Vienna. They feature diverse industry mixes, highlighting the region’s growing importance in the global business environment and potential for attracting CHQs.

Read the full report for detailed insights into how Vienna compares to these major European cities in attracting CHQs.

The study was conducted by the HiA team in collaboration with eXplore!, the Austrian Business Agency (ABA), the Vienna Business Agency, and the Oesterreichische Nationalbank (OeNB).

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