The Mighty Economy of Liechtenstein

Lichtenstein, though small, is economically powerful with a high GDP per capita. It shares similarities with Switzerland, especially in financial services, but has its own unique industrial sector. Known for its banking secrecy and tax policies, including a wealth tax, Lichtenstein is more than a tax haven. Its industrial sector focuses on high-quality manufacturing, contributing to a significant trade surplus. The video ranks Lichtenstein's economy, highlighting its strengths and areas for improvement.

Which country is Lichtenstein often compared to due to its small size and economic characteristics?

• San Marino

• Switzerland

• Monaco

• Vatican City

What is a key factor that differentiates Lichtenstein from Monaco?

• More tourism

• Higher population

• Larger land area

• Stronger manufacturing industry

How does Lichtenstein complement Switzerland in the financial sector?

• By offering similar services

• By having a larger economy

• By competing for the same clients

• By providing unique banking structures

What is a unique feature of Lichtenstein's financial industry?

• No taxes at all

• Only one bank

• More companies than citizens

• No international clients

What type of tax does Lichtenstein impose that is often disliked by the wealthy?

• Property tax

• Income tax

• Sales tax

• Wealth tax

How is Lichtenstein's wealth tax calculated?

• Based on income

• Based on net worth

• Flat rate for all

• Only on property

What type of products is Lichtenstein known for manufacturing?

• Automobiles

• Dental equipment

• Textiles

• Furniture

Why is Lichtenstein's manufacturing sector well-suited to its economy?

• Large domestic market

• Focus on high-quality niche products

• High demand for mass production

• Low labor costs

What is a notable economic achievement of Lichtenstein?

• Largest GDP in Europe

• Highest net exports to GDP ratio

• Fastest growing population

• Most diverse economy

How does Lichtenstein's economy rank in terms of individual wealth?

• Second highest globally

• Average in Europe

• Highest globally

• Lowest in Europe