Formal:
* Servus! (This is the most common and versatile greeting, also used for "hello" and "goodbye")
* Auf Wiedersehen! (This is a more formal way to say goodbye)
Informal:
* Ciao! (This is very common, especially among younger people)
* Leb wohl! (This is a more poetic and formal way to say goodbye)
* Pfiat di! (This is a more colloquial way to say goodbye, especially in rural areas)
* Mahlzeit! (This literally means "mealtime" but is often used as a casual goodbye, especially after lunch or dinner)
In addition to these, there are also some regional variations:
* Grias di! (This is a common greeting in some regions, and can also be used as a casual goodbye)
* Tschüss! (This is a common goodbye in some parts of Austria)
The best way to choose the right phrase is to consider the situation and the people you are talking to.