On the doorstep of Vienna, Austria, there is an emerging market of some 280 million inhabitants - the former "Eastern Block" countries. Since the fall of the iron curtain in 1989, these countries have developed rapidly, however their GDP/capita still lags significantly behind Western European countries (Source: IMF, WB).

The economic downturn also contributed to a slowdown in the convergency race.

Nevertheless, we believe that over time, European countries will converge in terms of economic wealth, thus providing a viable market opportunity for serious market players.