According to commit4fitness, Liechtenstein is a small country located in Central Europe. The economy of Liechtenstein is largely dependent on its banking and financial services industries, as well as its low taxes which make it an attractive destination for foreign investors. Other major contributors to the national GDP include tourism, electronics manufacturing and agriculture. The government has been focusing on diversifying its economy by encouraging investment in infrastructure such as roads and telecommunications networks in order to attract more foreign investors. In addition to this, foreign aid from other countries has also been increasing in recent years which has helped to improve the country’s economic outlook.
Business and Economics
According to countryaah, Liechtenstein has for a short time developed from a traditional agricultural society to an advanced industrial society. The standard of living has come in line with that in Switzerland. Agriculture, which accounts for just under 1 percent of employment, is traditionally dominated by livestock management with a focus on dairy products. Industry has become the most important industry; including. metal products, pharmaceuticals and food are produced.
Many foreign companies have settled in Liechtenstein, among other things for tax reasons (in many cases, however, this domicile is of a more formal nature: “Antenna”, so-called mailbox companies). Switzerland completely dominates Liechtenstein’s imports.
Liechtenstein’s raw material resources are natural gravel; otherwise no significant recovery occurs. The energy supply is supplied to about 90 percent of imports, mainly from natural gas and crude oil. Domestic energy production consists of electricity, firewood and biogas.
- According to abbreviationfinder, LS is the 2 letter abbreviation for the country of Liechtenstein.
Liechtenstein is a small country, and for many tourists a day visit is enough. In Vaduz there is an interesting historical and art historical museum in a beautifully restored cultural building, but it is primarily the princely art collection of high international class and the stamp museum that attracts. The princely castle on the slope over the city can only be seen from a distance. The mountain regions in the east are suitable for hiking in the summer, and Malbun has excellent downhill skiing in winter.