Economic Effects for Austria of a relocation of the European Banking Authority (EBA) and the European Medicines Agency (EMA) to Vienna

Project Lead: Alexander Schnabl
Team: Jan Kluge, Sarah Lappöhn, Hannes Zenz
Duration: April 2017 – May 2017
Funding: Federal Ministry of Finance

Austria applied to host the two agencies EMA and EBA in Vienna. The objective of the study on behalf of the Austrian Federal Ministry of Finance was the quantification of economic effects of EMA’s and EBA’s possible relocation to Vienna. The analysis focused primarily on the profitability for the Viennese and Austrian economy in terms of employment, value added and taxes, which might have been caused by operating expenditures, through highly qualified employees (paid by EU-funds) and visitors, if the European Commission had chosen Vienna as the new host of the two agencies.