An economy in keeping with its high quality of life
The Andorran economy, the traditional motor of which has been and is the quality of its tourism, has for the last few years undergone a process of international opening and standardization of its tax framework by supranational authorities. The political and economic relations with Andorra’s neighbouring countries have taken a quantum leap with the increasingly numerous tax information exchange agreements in place and with the ongoing double taxation agreements negotiations. In addition, the liberalization of foreign investments offers international investors a variety of strategic opportunities both at a business and individual level, all supported by a strong financial system with high capital ratios.
This economic opening is highly attractive and enhances the already high quality of life enjoyed by families that live in the country. As an illustrative example, the level of per capita income of Andorra exceeds that one of countries such as Spain, France or Germany. Similarly, it is placed above the average of OECD countries and the European Union. In addition, its low tax burden contributes to a price level significantly lower than that of neighbouring countries.
But the quality of life for residents in Andorra is not only reflected by their high purchasing power but also through the following indicators:
- The crime rate in Andorra is one of the lowest in the world;
- Its healthcare system has subscribed international conventions to benefit from health care abroad;
- Andorra is a technologically updated country, with fiber optic in 100% of its territory;
- Andorra is equipped with ski areas, sports facilities and high level thermal centres;
- Its natural environment is protected and is suitable for sports and leisure activities all year round.