Austria is a German-speaking country in Central Europe, characterized by mountain villages, baroque architecture, Imperial history and rugged Alpine terrain. Vienna, its Danube River capital, is home to the Schönbrunn and Hofburg palaces. It has counted Mozart, Strauss and Freud among its residents. The country’s other notable regions include the northern Bohemian Forest, Traunsee Lake and eastern hillside vineyards. As one of the most prosperous and stable EU Member States, Austria offers its investors ideal conditions. The Austrian economic system can be characterized as a free market economy with a strong social focus by also taking into account the weaker members of society. Austria also features a tried and tested system of economic and social partnership, which has traditionally played a strong and reconciliatory role in wage and price policies. Austria is a highly developed industrialized country with an important service sector. The most important industries are food and luxury commodities, mechanical engineering and steel construction, chemicals, and vehicle manufacturing.