The population of Austria is about to grow in the following years due to immigration. According to the latest projections of the country’s official agency of statistics – Statistik Austria, by 2040, the population will grow to 9.7 million and 10.2 million later on by 2080.
Although the population is about to grow by 6.6 per cent by 2040, there will be only about 31,000 more working people (0.6 per cent) compared to 2022, SchengenVisaInfo.com reports.
This implies that by 2040, the total number of individuals in the labour force is expected to be 4.74 million. However, in 2061, this number is expected to fall, reaching 4.68 million, and then will grow again in 2080 by reaching the figure of 4.78 million.
2022 marked the year when the population of Austria reached a nine million figure due to immigration from Ukraine, while the current population, as registered last month, is approximately 9.1 million. Of those, over two million people live in Vienna, the capital of Austria.
Austriaʼs population is growing – and this is solely due to immigration. In 2022, migration from Ukraine led to a significant increase in the population and we expect the population to continue to grow in the future due to migration.
In addition to experiencing population growth, Austria is also facing the challenges of an ageing population. The percentage of individuals aged 65 and above is projected to increase from the current 19.5 per cent to 26.6 per cent of the overall population. This implies that by 2040, this category is likely to be 45.5 per cent larger, compared to 2022.
Thomas highlights that this demographic shift is placing funding pressure on pensions and healthcare systems, as well as exacerbating shortages in skilled workers and labour.
Whereas in 1950, there were six people of working age for every person of retirement age, today there are only three and by 2040, there will only be two.
According to the projection, in 2023 and 2024, the number of people of working age (20 to below 65) will reach approximately 5.57 million. This figure is forecasted to decrease by approximately 4.8 per cent (268,000 people) in 2037.
However, until the year 2050, the population of working-age individuals will stay fairly consistent, ranging from 5.30 million to 5.32 million. Afterwards, there will be a decline, reaching a minimum of 5.21 million in 2063. From then on, the number of individuals aged 20 to 64 is projected to increase, reaching 5.34 million by the year 2080.
Austria is already facing an absence of workers in some key sectors, among those, construction and skilled trades, automotive and mechanical, hospitality, culinary, sales and logistics.