California's Economy Ranks Among the Largest Globally

California boasts the largest economic output of all 50 states in the United States, with its gross domestic product (GDP) reaching approximately $4.1 trillion (about EUR3.6 trillion) in 2024, accounting for roughly 15% of the total U.S. GDP. Following California, Texas and New York stand at $2.7 trillion and $2.3 trillion respectively. For context, Austria's GDP in the previous year was around $0.48 trillion, or EUR481.94 billion.

With a population nearing 40 million, California not only leads the U.S. in economic performance but also ranks as one of the largest economies globally. At current exchange rates, California's GDP surpasses that of Austria by about 7.5 times. Only the United States, China, and Germany report a higher GDP than California, which closely competes with Japan, ranked fourth worldwide. India is also rapidly advancing towards a higher position in the global economic landscape, while significant European economies like the United Kingdom, France, and Italy rank below California.

California is renowned for its vibrant lifestyle, characterized by a laid-back attitude, surfing, and iconic beaches. The state is home to approximately two million businesses, many of which are household names across the globe. Major players in the software industry include Alphabet, the parent company of Google, Meta (formerly Facebook), Adobe, eBay, Electronic Arts (EA), Oracle, and Yahoo. Additionally, tech giants such as Apple and Intel, along with entertainment powerhouse Disney, have significant operations in the state.

In the sports and lifestyle sector, companies like Santa Cruz are noteworthy contributors to California's economy. Prominent financial institutions like Wells Fargo have their headquarters in San Francisco, while Airbnb is also based in the area. Los Angeles, the largest city in California, is home to CBRE, a major player in real estate services. The state's capital, Sacramento, notably had Arnold Schwarzenegger, an Austrian-born individual, serve as governor, further highlighting California's diverse cultural landscape. The entertainment industry, particularly Hollywood, plays a crucial role in California's economic framework.

As a major importer of Austrian products, California receives more than 10% of Austria's exports to the U.S., translating into billions of dollars in trade value. The Silicon Valley region, known as a hub for technology and innovation, also hosts several Austrian startups. Notably, Red Bull has established its U.S. headquarters in Santa Monica, Los Angeles. However, the latest data on trade between Austria and California was unavailable on request from the local Chamber of Commerce.