Like in many parts of the world, there were declines in different Global Entrepreneurship Monitor indicators in Austria due to the COVID-19 pandemic. Trends are now reversing. The just released GEM 2022/2023 Austria National Report is based on a representative survey of the working-age population (4,600+ respondents) and supplemented by 37 experts assessing the state of the entrepreneurial ecosystem. The report notes that the rate of early-stage entrepreneurs rose to 6.8% of the working-age population, a slow recovery following a decline during the pandemic period. In particular, tourism-dependent provinces have helped to reverse 2020 declines. Other key indicators such as the rate of established businesses (active for more than 3.5 years, thus including startups as well) are already returning to pre-pandemic levels.