One of the world’s smallest sovereign countries, Liechtenstein has neither its own international airport nor a national currency.
In global discussions on development, nations are often judged by their vast landmasses, military power, strong currencies, and large international airports. Yet, a small European country nestled between Switzerland and Austria challenges this conventional understanding.
One of the world’s smallest sovereign countries, Liechtenstein has neither its own international airport nor a national currency. Nevertheless, it ranks among the wealthiest countries in terms of per capita income and stands as a model of economic efficiency.
Despite its size, which covers just 160 square kilometers, Liechtenstein has built an economic structure that rivals the world’s major economies. It does not have its own central bank and has adopted the Swiss franc as its official currency.
This strategic decision has spared the country the financial burden of managing monetary policies, controlling inflation, and printing money. Economists say this decision has played a crucial role in ensuring long-term financial stability and fiscal discipline.
Liechtenstein also lacks an international airport, yet connectivity is not a challenge. The country relies heavily on modern airports in Switzerland and Austria. Residents and visitors typically travel from Zurich or Innsbruck airports and reach Liechtenstein by car or train. A well-maintained road network, combined with open borders, ensures smooth and quick access.
The backbone of Liechtenstein’s economy is its high-end manufacturing sector. The country is a global hub for precision industrial equipment, advanced technological products, dental equipment, automotive components, and even parts used in space missions. Internationally renowned companies like Hilti, renowned for its construction machinery, have their global headquarters here.
Notably, Liechtenstein has more registered businesses than citizens, boosting employment opportunities and strengthening its export-driven economy.
Another striking feature of the country is its extremely low crime rate. With a population of approximately 40,000 and a disciplined administrative system, crime is virtually nonexistent. Locals often claim that their homes are left open without worry. Reports from various international agencies also indicate a negligible crime rate, further strengthening Liechtenstein’s reputation as one of the safest places in the world.
Experts argue that the country’s success lies not in military power or natural resources, but in efficient policymaking, precise resource utilization, and strategic partnerships with neighboring countries.
By cutting unnecessary costs, exporting high-value products, and maintaining social trust, Liechtenstein has created a sustainable model of governance.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: dnaindia.com
