In 2019, I did a fairly extensive review of the Christmas Markets in Vienna - there are many!
The link to that topic is here and most of the information stands the test of time (and COVID and energy crisis) - https://community.ricksteves.com/travel-forum/austria/a-local-s-take-on-15-christmas-markets-in-vienna-2019
I thought I would provide a 2022 update as the season has already begun.
I've been to Spittelberg, Altes AKH, Rathaus and Belvedere so far this year. Drinks are about 4.90 Euro with a 3 Euro deposit. I don't think that price is much different from the past. No noticeable issues related to energy issues.
Spittelberg - Again, this is probably the most atmospheric market, spanning three cobblestoned lanes in one of the most historic areas of the city. The same vendors as always. I ate Arepas from a Venezuelan stand (excellent!) and had a punsch. Was tempted by the Käsespätzle and the always famous potato pancake. My favorite jewelry stand was back. My son bought a huge apple cinnamon pretzel. We went in the middle of the afternoon on Saturday and I liked that the crowd was thin as Spittelberg can be a madhouse after dark as the lanes are very narrow. I also like ducking into the permanent shops and galleries that line the lanes. Tip - go to this market around 3 pm and leave before dark.
Altes AKH - Housed within the courtyard of the old hospital building in the 9th District, this market has a village atmosphere, with the food stands representing the different regions of Austria. This year there is also a stand from Georgia and another stand selling empanadas (had them, yummy). Again, this market wins for food. There are several amusement rides for small children and curling lanes. The food stalls greatly outnumber the craft stalls in this market, but there is a lot of room here to wander, making it good for small kids. I also had a hot chocolate mit schlag and churros. Tip - Go for the food, but find a quiet bench in the sprawling complex to enjoy your meal without being bumped.
Rathaus - The "main" Christmas market in Vienna has received a major facelift this year, just like the Rathaus (city hall) that stands proudly behind it. There are notably less stalls this year, which I believe is an effort to better space people. Changes include a new arched entryway, a huge double-decker carousel and a massive stand selling ornaments. Food didn't look very exciting, except for the baked apples and arancini. No craft stands really grabbed me. There are two ice skating rinks, a small ferris wheel and lots of lights in the two parks flanking the main plaza. As noted in my 2019 post, this market is not my favorite but seems to be the favorite of all tourists (some of whom I think do not realize there are other markets). The best time to visit this market - Monday afternoon at 4 pm for minimal crowds.
Belvedere - Absolutely stunning approach to this market once the sun goes down, as there are lights in the pond reflecting against the glorious backdrop of the palace. Once you approach, this market has a few small rides for the little ones on the right. This market always has a Boleslawiec pottery stand, which remains tempting to me year after year. Otherwise, the crafts and food here are similar to other markets around town - churros, moonshine, ornaments, candied nuts, baked potatoes, jewelry. I went on a Thursday evening and the crowd was light, mainly as it had just been raining. This is a good market to hang out in for a while - lots of locals and after work folks. But, again, you come for the amazing backdrop of the palace.
My Christmas Market experience continues below for 2022...