Forecasting Covid-19 New Cases in Austria

In Austria, just like in any other affected country, COVID-19 has registered disastrous effects. The worldwide research community has responded with a surge in forecasting models. In this research paper, the ANN approach was applied to examine COVID-19 cases in Austria. This study is based on daily new cases of COVID-19 in Austria for the period 1 January 2020 – 25 March 2021. The out-of-sample forecast covers the period 26 March 2021 – 31 July 2021. The residuals and forecast evaluation statistics (Error, MSE and MAE) of the applied model suggest that the model is quite stable and generally acceptable for forecasting daily COVID-19 cases in Austria. The results of the study indicate that daily COVID-19 cases in Austria are likely to remain significantly high over the out-of-sample period. The government of Austria in line with the findings of the study; should ensure the continued compliance to control and preventive COVID-19 measures.