Economy: Andorra has a developed economy and a free market, with per capita income above the European average and above the level of its neighbors, Spain and France. The country has developed a sophisticated infrastructure including a one-of-a-kind micro-fiber-optic network for the entire country. Tourism, retail sales, and finance comprise more than three-quarters of GDP. Duty-free shopping for some products and the country’s summer and winter resorts attract millions of visitors annually. Andorra uses the euro and is effectively subject to the monetary policy of the European Central Bank. Andorra's comparative advantage as a tax haven eroded when the borders of neighboring France and Spain opened and the government eased bank secrecy laws under pressure from the EU and OECD.
Symbols: Consequently, the coat of arms of Andorra incorporated their symbols: the mitre and crosier of the bishop appear next to the three red bars on yellow that constitute the arms of the count. The yellow shield with four red bars of Catalonia, Spain, and the two red cows of Béarn, France, complete the design.
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