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AustriaA prosperous, democratic country, Austria entered the Economic and Monetary Union in 1999. With its well-developed market economy and high standard of living, it is closely tied to other EU economies, especially Germany's. The economy features up-to-date industrial and agricultural sectors. Timber is a key industry, 47% of the land area being forested. Membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the new EU economies. To meet increased competition from both EU and Central European countries, particularly the new EU members, Austria will need to emphasize knowledge-based sectors of the economy and continue to deregulate the service sector. The Austrian media landscape mainly concentrates on print media, which is one of the biggest in the world. Moreover the country is an increasingly progressive television market, which consists of 50 regional and private channels. Major foreign programs are also available.
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