Internationally coveted

How art and culture became a billion-dollar industry

The interplay between architecture, high culture and a lively art scene has international appeal. This costs the city many millions of euros per year.

(Bild: Wiener Staatsoper/Michael Pöhn,Krone KREATIV)

Vienna has international appeal, particularly in historical and cultural terms. This is also reflected in the city's balance sheet. However, the federal capital is in danger of being left behind when it comes to offers for the younger target group. Modern venues are set to change this. 

With an impressive variety of theaters, museums, concerts and festivals, art and culture are not just decorative accessories - they are a driving force for the economy and society. The figures show how closely this cultural heritage is intertwined with economic dynamism.

The cultural and creative industries are a mainstay of Vienna's economy. Around a quarter of Austria's gross domestic product is generated in the capital, a significant proportion of which is accounted for by the cultural sector. According to Statistics Austria, this sector contributes around 8 billion euros a year to the city's economic output and employs around 60,000 people. The film, design and performing arts sectors are particularly well represented.

Vienna's museums and their major exhibitions (such as those of exceptional artist Erwin Wurm) also attract international visitors. The typical visitor to Vienna is highly educated and, above all, financially strong.

(Bild: Art Week/ Erwin Wurm/Bildrecht Wien, 2024, Foto: Markus Gradwohl)

Cultural diversity is also a decisive argument for tourism: three out of four visitors to Vienna come to the city explicitly for the sights and cultural offerings. It is an interplay that turns art into an economic powerhouse. With over 18.8 million overnight stays in 2024, Vienna will reach a new high.

The economic effects are immense: for the first time, the billion overnight stays were already exceeded in October. This is because culture primarily attracts financially strong clientele to the Danube metropolis - including overnight stays in upscale hotels and visits to exquisite gastronomic temples. But the cultural offerings are not only popular with visitors. According to an EU comparison, 90 percent of Viennese are "very" or "fairly satisfied" with the city's cultural offerings. An absolute top score in the EU. But culture must also move with the times. To this end, Vienna is pursuing a long-term cultural strategy that not only aims to maintain existing institutions, but also actively creates new cultural spaces.

Budget in the millions for cultural funding
New cultural centers have been emerging in the districts for years, specifically promoting up-and-coming artists and strengthening creative networks. The city also spends a lot on this. Every year, the city invests considerable sums in supporting artists, institutions and projects. In 2024, the budget for cultural funding amounted to a total of 350 million euros. In contrast to taste, one can certainly argue about the accuracy of the budget.

The Stadthalle is getting on in years, but should still serve as a venue despite the new multifunctional arena - conversions are only possible to a limited extent.

(Bild: Gisela Erlacher)

The young audience as a driver for major infrastructure projects
Vienna's largest arena - the Stadthalle - is already so old that it is a listed building. This honors the city and the architects, but makes it impossible to adapt it to modern requirements. So the city decided to build a new multifunctional arena. After a few teething troubles, work is now finally set to begin. But why a new arena?

Big shows require larger stages, higher ceiling loads and state-of-the-art technology - requirements that the Stadthalle can no longer meet. Competitor cities such as Hamburg or Munich offer more attractive venues, which is why Vienna runs the risk of being passed over by international tours. Vienna is now paying at least 153 million euros for this - the rest of the half a billion euros in costs are to be covered by partner CTS Eventim. The new Wien Holding Arena in Neu Marx will offer space for up to 20,000 visitors for concerts, sporting events and e-sports competitions. The opening is planned for 2030.

With the new arena and the theater in the Prater, Vienna is investing in its cultural future. The city is responding to the increasing demands of the entertainment industry and wants to position itself as a top location for concerts, sporting events and musicals.

(Bild: Rendering: expresiv.at)

But what will happen to the Stadthalle? It will remain Austria's most important event location until the new arena opens. It will continue to be used, but will be reoriented in the long term. A concept for its future use is to be developed to ensure that the hall continues to play an important role in the cultural, sports and entertainment sector.

In addition, the Theater im Prater - a new musical theater built by ATG Entertainment - will be built by 2027. While ATG is financing the construction, Vienna is acting as a strategic partner in order to benefit from the musical boom in the long term. The city says that market analyses show potential for a doubling of visitor numbers. All projects show that the young audience is also a driver of innovation in the cultural sector. PST