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.
History: With over a thousand years of history, Andorra has a great deal to tell you – how the country was founded, who its rulers and their subjects were. From prehistoric times to the pre-Roman period, the first inhabitants of Andorra settled in local areas such as La Balma de la Margineda, El Cedre in Santa Coloma and El Antuix in Escaldes-Engordany, leaving behind a testimony to their presence. Legend has it that Charlemagne founded Andorra in the year 805 in recognition of the help provided by local people in their struggle against the Saracens. However, the first document that mentions the country is the act of consecration of the Cathedral of Santa María d’Urgell in the middle of the 9th century, which appointed the parishes of Andorra as the fiefdom of the Counts of Urgell. After years of intense struggles between the local Counts and the Church to achieve sovereignty over Andorra, hostilities were brought to an end by the signing of two treaties called the Pareatges...
Comentarios
Publicar un comentario