Austria has strong material well-being and quality of life. Steady growth in GDP per capita has been combined with low income inequality, high environmental standards and rising life expectancy. Supportive conditions for a dynamic business sector, generous cash benefits allowing families to provide extensive in-house services, a wide supply of public services and a well functioning social partnership system have helped achieve this performance. The Austrian population has therefore combined preferences for stability and work-life balance (wealth in time) with a thriving economy pursuing an active globalisation strategy.