Explain why Liechtenstein’s per capita GDP is so high. cite your sources, explain sources are reputable,and summarize the streng

Question

Kruka [31]

3 years ago

13

Explain why Liechtenstein’s per capita GDP is so high. cite your sources, explain sources are reputable,and summarize the streng

ths and weaknesses of each source.

Advanced Placement (AP)

1 answer:

Archy [21] · Answer 1 · 2021-11-18T16:31:13+03:00

Answer:

Liechtenstein is a nation of Central Europe, with borders with Austria and Switzerland. It is a very small nation of only 160 km2, populated by some 38,000 people who enjoy a very high standard of living.

The GDP per capita of this country is $ 98,432, being the third country with the highest GDP per capita in the world. The reasons for this great prosperity of the country are basically found in the fact that Liechtenstein has become a tax haven, with banking activity being the most important in the nation and the main employer of the country. Thus, given that many of the world's great fortunes deposit their assets in the country's banks, the fees they charge and the taxes that the government collects, albeit minimal, serve to guarantee an extremely high quality of life for its few inhabitants.