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Austria is a landlocked country in Central Europe. Austria is considered one of the richest countries in the world with a high standard of living.Austria's economy has rapidly changed over the last several years. Many of the largest industry firms have undergone a rapid degree of privatization, and this has reduced state holdings to a level comparable with other European Economies. Austria's highly developed industry and international tourism are the cornerstones of the national economy.Austria, as a member of the European Union, has become more involved in other European economies, allowing it to become less dependent on its historical trading partner, Germany. Austria, like other EU members, uses the Euro as its primary currency.