The latest survey of the "Aktienbarometer" – an annual survey carried out by the Federation of Austrian Industries, Aktienforum and Vienna Stock Exchange – shows a continuing upward trend in securities ownership among the Austrian population. Almost one in three Austrians now invests in shares, bonds or investment funds and ETFs. The growing importance of the capital market is reflected in the current figures and shows that long-term wealth accumulation has reached the centre of society.
According to the study conducted by Peter Hajek, a clear picture emerges: the Austrian population is increasingly focusing on securities as part of their private pension provision. In view of this, IV President Georg Knill emphasises: "Our business location is facing major challenges – our social security system is becoming ever more expensive and our national budget is under massive pressure. A strong capital market is essential – not only for the competitiveness of our location, but also for the security of our social system and thus for our prosperity", and continues: "The government programme is still somewhat vague with regard to the capital market – there is still room for development here in order to strengthen the domestic capital market and strengthen the framework conditions for those people who would like to make provisions.”
The importance of private pension provision is increasing significantly. Austria's pension system stands in stark contrast to capital market-orientated countries such as Denmark or the Netherlands. There are successful models there that show how it could work. "They ensure that long-term investments flow into the economy, innovations are financed and prosperity remains secure. Over 200 per cent of GDP is invested in funded pension plans there. Austria's figure is negligible at not even 7 per cent. This means that Austria has to spend a much higher proportion of its economic output on public pensions," says Angelika Sommer-Hemetsberger, President of the Aktienforum. " The capital market has the potential to complement and significantly reduce the financial burden on social security systems”, adds CEO Christoph Boschan of the Vienna Stock Exchange. "Shares are the safest and most profitable asset class in the long term, as more and more people are realising. To forego these returns in the pension system would lead to a loss of income on the one hand and higher costs than in international comparison on the other.”
Key findings of the study
- Significant increase in securities ownership: 30% of the domestic population in Austria now own securities (2.3 million).
- In addition to long-term asset accumulation and value preservation, pension provision (57%) is increasingly coming to the fore.
- 1.4 million people who do not currently own securities are interested in acquiring them.
