Austria's EU membership has created 75,000 jobs

Austria's EU membership has created 75,000 jobs

Austria has gained 75,000 new jobs since it joined the European Union in 1995 and has benefited the most from the bloc's expansion to take in a large swath of eastern Europe, a study released Thursday found.

The Austrian Institute of Economic Research said the alpine country's gross domestic product has risen by about half a percent a year since it became part of the EU, and that economic growth has increased by as much as 1 percent since the EU took in 10 mostly ex-communist newcomers in 2004.

The institute said there was significant investment potential for Austrian companies in Bulgaria and Romania, which are expected to join the EU next year, as well as in Turkey, which hopes to become a member within the next decade or so, reports the AP.

I.L.