The Austrian Latin America Institute (LAI) was founded in 1965 as a private association with the principal task of intensifying the dialogue between Austria and Latin America. The Institute offers language courses (Spanish, Portuguese and indigenous languages) and the "Master for Latin America Studies" (in co-operation with the University of Vienna), runs a library, supports Latin American students and organises cultural activities. It is also a communication platform for Austrian Latinamericanists by offering an enquiry service and organizing the Annual Meeting of Austrian Latinamericanists.

The Institute enjoys excellent relations with diverse European institutions engaged in themes related to Latin America such as research and cultural affairs, as well as Latin American academic institutions. It played an important role in various events related to the EU-LAC Summits from 1998 onwards, especially the Vienna Summit from 2006.