How an Isolated Valley Became the World's Richest Country

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Casual Scholar

Casual Scholar

Күн бұрын

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Have you ever heard of Liechtenstein, the tiny Alpine principality? Despite its small size and remote location, it has managed to become one of the wealthiest countries in the world, with a staggering GDP per capita of $170,000 and an extremely high standard of living. But it's not exactly clear how this was achieved. From its humble beginnings as a poor and isolated valley of farmers, Liechtenstein faced numerous challenges to its development, from its harsh geography to its central location, which got it caught up in the tumultuous History of Europe. So this begs the question, how did Liechtenstein get so incredibly rich?
- Contents of this video --------------------------------
00:00 - Liechtenstein’s Economy
00:53 - The Second Richest Country in the World
02:54 - Why Liechtenstein Was Poor
04:59 - Economic Union with Switzerland
08:42 - Economic Miracle
15:47 - Liechtenstein Today
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- Sources used ---------------------------------------------
Liechtenstein: a modern history by Beattie, David
Secrets of the seven smallest states of Europe : Andorra, Liechtenstein, Luxembourg, Malta, Monaco, San Marino, and Vatican City by Eccardt, Thomas M
#Liechtenstein #LiechtensteinEconomy #LiechtensteinHistory #Economics #CasualScholar #History

Casual Scholar
Casual Scholar 7 ай бұрын
Play World of Tanks here: Thank you World of Tanks for sponsoring this video. During registration use the code TANKMANIA to get for free: -7 Days Premium Account -250k credits -Premium Tank Excelsior (Tier 5) -3 rental tanks for 10 battles each: Tiger 131 (Tier 6), Cromwell B (Tier 6), and T34-85M (Tier 6) The promo code is only for new players during registration.
Christian Prescott
Christian Prescott 7 ай бұрын
When is that Argentina video supposed to come out?
Warren Don Paul
Warren Don Paul 7 ай бұрын
Bruh 6 ай бұрын
no 🤯
Pioneer_11 6 ай бұрын
Honestly one of the funniest promo's I've ever heard
tom kent
tom kent 6 ай бұрын
I think we aleady knew that!
Wayne's World of Science and Technology
Wayne's World of Science and Technology 7 ай бұрын
When your country is the size of Liechtenstein even the corner shop needs to think internationally. Liechtenstein is a fascinating place. Thanks for covering it.
Bruce T.
Bruce T. 6 ай бұрын
It's mind-boggling that Brooklyn, NY and Liechtenstein are roughly the same size by land area, yet while Liechtenstein has a population of around 38,000, Brooklyn has over 2.7 million!
Sourav Das
Sourav Das 6 ай бұрын
Thanos was right 😂
CocoCalypso 6 ай бұрын
im from a island called Guernsey in the English Channel which is nearly 3 times as small but we have a population of 65 thousand.
JM Gonzaga
JM Gonzaga 6 ай бұрын
Is Guernsey part of England ? I’m always asking this question and I’m facinated on the island
ArchieDoesRandomStuff 6 ай бұрын
@JM Gonzaga yes part of uk
reddwarfer999 6 ай бұрын
@ArchieDoesRandomStuff Guernsey isn't part of the UK, it is a Crown Dependency.
Danny McClelland
Danny McClelland 7 ай бұрын
"Unemployment is barely above 1%" Imagine the whole country knowing which 400 people don't have jobs lol
Crowy 7 ай бұрын
EMS 7 ай бұрын
Oh my. That never occurred to me. It's a fairly disturbing thought. I wonder if that 1% might actually represent the disabled population in Liechtenstein
Bologna Beef
Bologna Beef 7 ай бұрын
@EMS no because disabled people aren't part of the total working force so they're out of the equation...
The Bray Bomber
The Bray Bomber 7 ай бұрын
The rest supply the others with sniff 🤧
KopaZ 7 ай бұрын
most likely young adults trying to find jobs but don't have enough CV lines for manufacturing positions, which seems to be a lot of in said country?
Andrew Williams
Andrew Williams 7 ай бұрын
Visited Liechtenstein this summer really just to say I’d been there, but it really is beautiful. Vaduz is a small and quiet town surrounded by beautiful mountains and rolling green hills. Walking across the bridge into Switzerland after leaving was magical.
Fabien Heitz
Fabien Heitz 7 ай бұрын
I did the exact same thing! Also went up into the hills above Vaduz - gorgeous landscapes there too
Andrew Williams
Andrew Williams 7 ай бұрын
@Fabien Heitz I wish I’d gone up to the castle but I just had brunch at a Vaduz cafe and went up into Appenzell Switzerland
Pulvär 7 ай бұрын
Was it expensive?
P Davison
P Davison 7 ай бұрын
@Pulvär No!🙄
Bruce Baum
Bruce Baum 7 ай бұрын
How could it not be expensive, like how much for a 3/4 star hotel, average lunch or dinner?
Matt Lee
Matt Lee 6 ай бұрын
I went to liechtenstein over summer, explored vaduz and the castle and went hiking. The views on the hike were absolutely stunning and the city seems so well run and polished despite being so tiny
remina 11 күн бұрын
I also visited last year and hiked border to border, whole country was beautiful and insanely clean. The people where also very friendly. Would love to go back.
hassan gingi
hassan gingi 6 ай бұрын
Ireland surprised me, once ravaged by the worst famine that drove 80 percent of its population to migrate ,a country that was one of the poorest in Europe to 4th richest
Alex Yuu
Alex Yuu 6 ай бұрын
any country with small population and is somewhat ok in terms of corruption can just got for that low corporate tax. Especially efficient when bordering strong economies directly. just tax heaven "magic".
Christopher Ellis
Christopher Ellis 3 ай бұрын
180 years later
charles moss
charles moss 7 ай бұрын
The only thing I would say is for the casual visitor it has long since lost much of the quaint surroundings and beautiful old buildings with painted facades and wood shingle that I remember with such joy from my childhood. Vaduz in particular feels horribly bleak with ill thought out pedestrianisation and a devotion to strange cube architecture! As a place to do business though it’s great and if you push up into the mountains some of the walks are spectacular, the three sisters is a favourite with wonderful views.
Ryan Senensky
Ryan Senensky 7 ай бұрын
I had the privilege of meeting Hereditary Prince Alois when I was a kid in the 90s. His family was invested in a business my mother worked at and she was the VPs secretary, I had gone to work with mom that day because it was my birthday and I had the day off school for some reason (teacher training or something). Anyway, he is a very nice person, like not just passing courtesy but he went out of his way to tell me happy birthday and asked about my plans. For a 6 or 7 year old kid, yeah 10/10 experience. I think I told him he sounded like Arnold Schwarzenegger now that I think about it...
EMS 7 ай бұрын
Fun story. The European royals who still exist really specialize in positive interactions with the public. They see it as one of their primary roles and many know that if they fall at this, it could mean the end of their monarchy. It's probably also easier to be courteous if you have no financial worries in life and raised to recognize that your privilege comes with responsibilities - something the nouveau riche often lack.
Florian Maier
Florian Maier 7 ай бұрын
@EMS the lord of Lichtenstein is (apart from the Pope, if seen as monarch) the only European noble that still holds and uses effective powers in the country.
Someone 7 ай бұрын
​@Florian Maier Monaco?
Surya Hadiwinatas
Surya Hadiwinatas 7 ай бұрын
​@Florian Maier Principality of Monaco and Grand Duke of Luxembourg
Geri Rijk
Geri Rijk 7 ай бұрын
The company Hilti is located in Liechtenstein. It's so crazy that a multi-billion dollar global company like that could come out of such a tiny country!
Harry Johnston
Harry Johnston 7 ай бұрын
Geri Rijk
Geri Rijk 7 ай бұрын
@Harry Johnston It was founded in and grew out of Liechtenstein! Not some billion dollar company that moved there for tax purposes (although I'm sure they probably get some special treatment in that department)
Juan Pérez
Juan Pérez 6 ай бұрын
@Geri Rijk said "It was founded in and grew out of Liechtenstein" MOST companies are founded and grow in tax paradises from the beginning
ric gunn
ric gunn 5 ай бұрын
Hilti great tools😊
Max Sonthonax
Max Sonthonax 5 ай бұрын
So much gullibility. I guess that's how this guy is able to make his money too from padded-out You-Tube videos.
Paul Houston
Paul Houston 6 ай бұрын
wonderful country.. as i watched the whole video, i got to understand that it has a lot of factors, ill try to enumerate some: 1) Less corrupt citizens 2) Less population is more manageable 3) Very discipline and articulate contributing in innovation sector 4) tax haven 5) The system of governance is so good that neighboring countries commutes daily just to do businesses and even work under their system 6) non toxic competetive citizens 7) trustworthy high value citizens and more... meanwhile in my country, politicians and authorities are busy devouring the people thru corruption... corrupted heart is way more difficult to deal with and will result to different kind and deeper level of corruption, not just the shallow thing about money
S asi58
S asi58 6 ай бұрын
This The success or failure of almost any political system hinges on points 1, 6 and 7
Above Board & Beyond Control
Above Board & Beyond Control 7 ай бұрын
Once again, Casual Scholar delivers another fantastic video! Very informative and entertaining!
Tobias 7 ай бұрын
It's not a great analysis, and it's full of baseless assumptions.
ROXANNE 7 ай бұрын
@Tobias 👎
ROXANNE 7 ай бұрын
@Footnote Society AGREED!
Max Sonthonax
Max Sonthonax 5 ай бұрын
I think if you listen closely it is neither of those things. It's merely a vehicle for a revenue stream.
ROXANNE 5 ай бұрын
@Max Sonthonax I beg to differ. The videos are well researched, educational and extremely well produced. If it were just a revenue stream he would be slapping them together and pumping them out every week. 🙄
Rudolf Kraffzick
Rudolf Kraffzick 6 ай бұрын
The upper Rhine River valley where Liechtenstein is situated is by no means isolated. An old trade road from or leading to Italy runs through the valley. In the 19th century a railroad was added. The Zurich International Airport is nearby.
cek0 4 ай бұрын
​Anno Kitsune International or Domestic?
Michael Aleksovski
Michael Aleksovski 7 ай бұрын
It's very odd how three of the smallest countries in Europe are also the wealthiest. So, how does one become a Liechtensteinian!
Sandrine Roesch
Sandrine Roesch 6 ай бұрын
It’s very hard to get in and reside. As a company,it’s easier. And citizenship is extremely hard to obtain
ric gunn
ric gunn 5 ай бұрын
Be a ski champion
Max Sonthonax
Max Sonthonax 5 ай бұрын
It's not odd, it is logical. Were you not paying attention? TAX HAVEN.
Cisium 7 ай бұрын
Wanted to see Liechtenstein for awhile now. When I was on Facebook I followed a skier from Liechtenstein who posted a lot of photos of her country. I'll get there someday.
ken 5 ай бұрын
Can u share her name?
dork triogamer
dork triogamer 7 ай бұрын
This kinda shows to me that no matter a countries unfortunate situation it can still work well
Valton Tony
Valton Tony 7 ай бұрын
except if they're in an ongoing war
Soff1859 6 ай бұрын
Its actually more the opposite. If a country has a "fortunate" situation, like natural resources, that often causes more problems than it solves. Its called the resource curse. Discovering natural resources is pretty much only good for the population of a country as a whole, if the country is already an advanced economy and democracy. Such as Norway and Scotland. If a poor country discovers oil/gas/diamonds/gold it almost always ends in disaster.
Shaun Cameron
Shaun Cameron 6 ай бұрын
@Soff1859 Scotland is not rich.
S asi58
S asi58 6 ай бұрын
​@Soff1859 democracy part isn't necessary, but transparency and lack of/reduced corruption is necessary. Other than that you're correct. Democracy is just another political system and not something special. How well any political system operate depends on the people that are part of it.
Justin Michaels
Justin Michaels 5 ай бұрын
I love Liechtenstein! it is my favorite country. Prince Hanns Adam II is an amazing man. His book "The State In The Third Millennium" changed my life.
Richard Caldwell
Richard Caldwell 6 ай бұрын
"Free market" is a heck of a description for a tax dodge. They provided a way for companies to legally lie about their location in order to avoid paying their fair share of taxes. Liechtenstein was taking what amounts to a commission for facilitating immoral activity.
Sergio Miguel Parreira
Sergio Miguel Parreira 6 ай бұрын
Kenneth Selin 2 days ago SMART corruption-free POLITICS makes for A PROPEROUS NATION. Undoubtedly. :D Ken, Toronto, Canada
S asi58
S asi58 6 ай бұрын
Lmao dodging taxes isn't immoral, and paying taxes isnt moral. They are amoral things. Also, objectively speaking, there is no such thing as "fair share of taxes".
Billy Barton
Billy Barton 5 ай бұрын
Taxes are immoral
12vscience 3 ай бұрын
Maybe those companies were tired of people putting their hands in the companies' pants and grabbing the wallet. The governments should try to ease the tax burdens on everyone and keep taxes low. And the citizens should try to pay for goods and services individually instead of making everyone else. That is if we want to keep things fair.
Tim Fronimos
Tim Fronimos 2 ай бұрын
This should be mandatory viewing in every business school. Awesome channel.
Kevin Darroch
Kevin Darroch 6 ай бұрын
Lichenstein, it is a truly beautiful country. Smart, thinking people.
xenotypos 7 ай бұрын
To be fair, it's the story of most successful tax heavens. The idea is always the same, the success often depends on the location.
Mr poxycat
Mr poxycat 7 ай бұрын
It's almost as if it better to keep government small and decentralized.
G D 6 ай бұрын
Please CHECK what a "tax heaven" is (perhaps consult OECD - if you know what that means - which I doubt LOL).
xenotypos 6 ай бұрын
@G D Most definitions of a tax haven agree with me, please open a dictionary before trying to act with condescension, maybe you'll seem less ridiculous. The OECD made up definition, lost all credibility for almost everyone after it was pointed that in 2017 only Trinidad and Tobago met their criteria anymore. So get over it, I don't know if you were triggered because you live in Liechtenstein or something, but that country can clearly be considered a tax haven. No matter how you feel about it.
Mazda RX7
Mazda RX7 6 ай бұрын
@xenotypos Bro I think he's just highlighting how you wrote tax heaven and instead of tax haven.
Arthas Menethil
Arthas Menethil 6 ай бұрын
Being a tiny country in the EU surrounded by wealthy countries and large economies with high taxes helps a lot.
Harry Sutton
Harry Sutton 6 ай бұрын
Watched this video as a while back I had the bizarre experience of playing for the Prince of Lichtenstein’s stag do. One reason they may be so rich is it took us months to get paid by the best man, who naturally was a vintage Ferrari dealer….
Bruce Wilson
Bruce Wilson 6 ай бұрын
Thank you. I learned a lot. Now, I would like to visit there. Quite beautiful. Bravo.
Alex Seesing
Alex Seesing 6 ай бұрын
Very interesting. Compare this against Luxembourg and The Netherlands in this order. And to be complete, feel free to also include Belgium for any reason you think is fun.. Uhm, right.
Jeremiah Reilly
Jeremiah Reilly 6 ай бұрын
Note: GDP per capita is inflated if workers are not resident in Liechtenstein, because per capita GDP is calculated by dividing GDP by the population. Still a very rich country.
Arthas Menethil
Arthas Menethil 6 ай бұрын
Yeah these sorts of clickbait videos always kind of bug me since they're extremely misleading and because they make people think it's a gameplan other countries could follow. Lichtenstein is mainly wealthy for being a tax haven right next door to Switzerland, France, and Germany and despite "technically" having a GDP per capita of $180k the real average wage in the country is closer to $70k. Still high but it's lower than some US states. Lichtenstein is wealthier than most tax havens but that's a common problem with many of them.
cek0 4 ай бұрын
​@Arthas Menethil France and Germany doesn't have a GDP per Capita over $100k. Also it's not clickbait, it is true that if you measure the country with GDP per Capita then it'll be one of the richest in the world. If you want to account for the status of citizenship of the people working in Liechtenstein, use the metric called GNP (Gross National Product) then per capita it is or was actually the richest in the world according to 1998 World Bank data.
Kancer5 5 ай бұрын
Basically the place lucked out by being in Switzerlands shadow... and learning it's secrets of being a tax haven for the rich... Also benefited from being in Europe where Switzerland being a neutral country with favorable relationships with surrounding countries(No one would want to upset the swiss over a 61sqmi mountainous territory). If it was next to china the place would have been gobbled up regardless. See HongKong, Taiwan, Parts of Mongolia, Tibet, Uyghur.
Tabea Gyger
Tabea Gyger 5 ай бұрын
Fun fact: Lichtenstein doesn‘t have an army but sends their recruits to the swiss military for training. 😄 just don‘t ever get in a fight with big sister Helvetia 🇨🇭
Ben Dimi
Ben Dimi 6 ай бұрын
Gorgeous country with gorgeous people 👍❤️ GREETINGS FROM SERBIA 🇷🇸❤️❤️❤️❤️❤️
Bingo 6 ай бұрын
Normal people, like everywhere else.
Jordi Jimenez
Jordi Jimenez 5 ай бұрын
That’s 99.9% of the world
Nelson Templar
Nelson Templar Ай бұрын
I think that many people here in the US know of the name Liechtenstein, only because of Heath Ledgers character William Thatcher posed as 'Sir Ulrich von Liechtenstein' from the movie: A Knight's Tale.
Nash Wagemakers
Nash Wagemakers 7 ай бұрын
Funfact: Liechtenstein is home to one of the biggest Rollercoaster Manufactorers in the world. Edit: forgot to add the name. It's Intamin, known for rides at Universal Studios, Phantasialand, Efteling, Six Flags and more
Sean Bryan
Sean Bryan 7 ай бұрын
Without saying the name, it’s not fun at all. Boring
Matt Cooper-Kay
Matt Cooper-Kay 6 ай бұрын
Huh, I had no idea Intamin were based there.
Nash Wagemakers
Nash Wagemakers 6 ай бұрын
@Sean Bryan Forgot! Intamin :)
Nash Wagemakers
Nash Wagemakers 6 ай бұрын
@Matt Cooper-Kay yea quite insane but also cool
charmerci Ай бұрын
I don't think a lot of those images when he's speaking about Liechtenstein are of the country. (I know that there are images of Switzerland when he's speaking about Switzerland. I recognize many of those including Zurich and Bern.)
martine. mjt
martine. mjt 6 ай бұрын
many world leaders could take lessons from liechtenstein on keeping taxes low, investment inflowing and citizen wealth up! keep up the good work!
Max Sonthonax
Max Sonthonax 5 ай бұрын
An astute & moronic analysis. 🤔
Mark Lisiecki
Mark Lisiecki 6 ай бұрын
God bless the Western civilization !!!!
Metalosopher 7 ай бұрын
So just like Dubai, Singapore, and Hong Kong. A small city state taking advantage of it's location between much larger economic juggernauts.
Johann Johann
Johann Johann 5 ай бұрын
It's crazy after all this time Liechtenstein has stayed independent and its own "country"; and amazingly Germany did not invade in WW II. So "technically", Hitler did not conquer "all" of continental Europe (and somehow Switzerland managed to stay neutral and not invaded - largely because they managed to bribe Germany to stay out of the war. So I kinda consider them "part" of Germany in WW II because they were a big help to Germany. more than most people realize, anyway). Go Liechtenstein!
Alfonso Navarro
Alfonso Navarro 7 ай бұрын
Tax haven. There. Saved you 17 minutes.
Tau ceti
Tau ceti 7 ай бұрын
Hate it when rich people hide from paying their fair share of taxes😡
Rob G
Rob G 7 ай бұрын
@Tau ceti I dont think being rich is a requirement to have your banking done in Lichtenstein. Im pretty sure you could open up a bank there yourself. Quit yer yappin
Darius Chambliss
Darius Chambliss 7 ай бұрын
Thanks for the time save.
Abiril the Archer
Abiril the Archer 7 ай бұрын
literally, if any country is wealthy, but particularly if it is small, you have 2 guesses to cover literally all of them 1) Tax haven 2) Oil economy
Enzo Navarro
Enzo Navarro 7 ай бұрын
@Abiril the Archer they are basically the only ways a country can become rich, what is not always possible with oil. Tiny countries just have to take the "tax-heaven" very seriously to survive, and also Liechtenstein makes much of the dental equipments of the hole world, as he said in the video, so Liechtenstein is not just a "tax heaven"
Mhd Ibm
Mhd Ibm 7 ай бұрын
I really wish we can have similar success stories here in the african continent
Nukes 'R' Us
Nukes 'R' Us 7 ай бұрын
Give it a few decades. I believe it will happen.
Hayha 7 ай бұрын
Rwanda is doing it
Arnarog Hael
Arnarog Hael 7 ай бұрын
stop imigratin and with that loosing your brightest individuals, most black doctor in use and eu are from africa. thats lost potential for continent.
ult 6 ай бұрын
​@Hopping Rabbit That would be a good move if you're government use those remittance money in good use, not in corrupt way.
Tobias 7 ай бұрын
I don't really see how a country's size makes it less corrupt, or its politics more efficient. It's not like counties in larger countries aren't corrupt or mismanaged.
Marek 7 ай бұрын
I mean it seems pretty simple why it would be less corrupt
Tobias 7 ай бұрын
@Marek It's not simple. Such things are multifacated. There are cultural and historical factors as well
G D 6 ай бұрын
Question: do you as fahter manage your family with 2 children better or less than with 12 kids? Once you find the answer you will see what I am talking about.
Tobias 6 ай бұрын
@Hopping Rabbit No correlation
Joseph Turner
Joseph Turner 6 ай бұрын
The only country in history to send its army to war and returned +1. With no casualties.
Viktor D.
Viktor D. 6 ай бұрын
This is a myth
A long lost memory
A long lost memory 6 ай бұрын
​@Viktor D. Religion is also
A long lost memory
A long lost memory 6 ай бұрын
​@Viktor D. That's the beauty about myths
Birdman 18 күн бұрын
@A long lost memory not related to the statement at all
Rey Infante
Rey Infante Ай бұрын
Besides lucky enough to be near Switzerland and the right courses of action, it looks like the Prince or the King at that time is not corrupt and donates his assets to save his country.
Nicolas Bouyiouclis
Nicolas Bouyiouclis 6 ай бұрын
Very nice and informative show, thumbs up! I enjoyed it... Good for them.... but I have no intention even driving nearby the place anytime soon.... I'd rather spend my time at the Greek Islands forever....! Sorry..
Otis Schmakel
Otis Schmakel 4 ай бұрын
Nothing is certain but taxes and death But that does not mean you should get taxed to death... I am sure glad there is a country where they are doing something about it
Big Picture Window
Big Picture Window 7 ай бұрын
The Republic of Ireland soccer team once held Liechtenstein scoreless. #Memories.
Don T Comply
Don T Comply 7 ай бұрын
Pick on a country your own size
Wild card
Wild card 7 ай бұрын
lets be honest the only reason this country is untouched is cuz it make it easy for everyone to launder there money easily
G D 6 ай бұрын
LOL, do you have other silly jokes?
Igor Jose
Igor Jose 6 ай бұрын
No debit helps not paying for the mistakes done in the past forever extra. Efficient and leaders with thinking beyond the 4 years they have helps as well and makes them reliable for investing. Or can keep their standard increasing instead of declining. Less speculators in a financial world helps as well as good education and a nice environment for successful people to stay
M Chaudry
M Chaudry 7 ай бұрын
Dubai is following similar policy. I wonder why the big neighbors did not sanction companies using smaller countries as tax heavens ?
the lone Wanderer
the lone Wanderer 7 ай бұрын
Damn I was hoping for a video about Luxembourg, but this is great too...
Matthias Thym
Matthias Thym 7 ай бұрын
Could make a video about the steel industry of Luxembourg :)
Aidan Aldrich
Aidan Aldrich 5 ай бұрын
Low taxes, small government, and little financial regulation. I wish more countries followed this model instead of stifling business
Allan Dacruz
Allan Dacruz 5 ай бұрын
1/ Stay out of wars, except for sales revenue. 2/ Maintain a small population 3/ Accept managing as much money from anywhere and anyone (no questions asked) as you can.
Asier Escobal
Asier Escobal 7 ай бұрын
Dont' stop Liechtensteining! As a live motto
Shikha Sharma[she,her]
Shikha Sharma[she,her] 7 ай бұрын
Having Austria and Switzerland as neighbours makes them instantly rich.
Nolesy 7 ай бұрын
Imagine going over your neigbours for a cup of sugar they give you, A gilded mug of hot drinking choclate and a swiss bank account
Fünf Nummer
Fünf Nummer 7 ай бұрын
Liechtenstein's royal family is the best example for other royals. They should love their state not their title.
Bert Veening
Bert Veening 6 ай бұрын
@Hopping Rabbit While outdated, there are some advantages. As for good examples, see most European monarchies, the Japanese emperor and the late Thai king Bhumibol Adulyadej.
JC 6 ай бұрын
@Hopping Rabbit I'm living in a regal system. The bureaucracy means things get done quicker without red tape
S asi58
S asi58 6 ай бұрын
​@Bert Veening there is no such thing as an outdated political system.
Bert Veening
Bert Veening 6 ай бұрын
@S asi58 You just failed English 101.
S asi58
S asi58 6 ай бұрын
@Bert Veening elaborate further
Nordi Tico
Nordi Tico 6 ай бұрын
"Facilitating complex business structures" nice words for money laundering and tax heaven.
Faisal Reza
Faisal Reza 7 ай бұрын
even thought World of Tanks ad on a video like this feels goofy, it is still much better than Masterworks or Established Titles
Max Sonthonax
Max Sonthonax 5 ай бұрын
Yet it is the whole point of making the video: to be a revenue stream.
Marinho Brandão
Marinho Brandão 7 ай бұрын
A nice way to picture a tax haven 😄
Gina Belisario
Gina Belisario 6 ай бұрын
Being small has a positive equity inside and outside of other countries. Ability effective and accountable government.
ROXANNE 7 ай бұрын
Thank you for another fantastic video. 👍
Ken Smith
Ken Smith 5 ай бұрын
I want to move there!😊
John Earle
John Earle 5 ай бұрын
Interesting note. The national anthem of Liechtenstein has the same tune as God Save The King. I have friends who’ve met Prince Hans.
krinkovakwarfare 6 ай бұрын
Basically Tiny factory for sophisticated equipments Accounting department for multinationals Tax Haven similar to Switzerland
Awesome Cosmopolite
Awesome Cosmopolite 6 ай бұрын
Sort of like an individual from a geographically large country living in a cramped space like a snail watching a video blogger from a geographically small country living in an independent house with a garden. A generally good situation for the people of a country doesn’t necessarily require the feature of geographical largeness. The right policies will do. The larger a country is geographically, the more skill, honesty, patience, endurance and good-will it takes to run. So, for an individual, they don’t need to be blindly proud of living in a geographically large country, but should try to be in a country that generally and mostly has right policies.
Willy Huanca
Willy Huanca 7 ай бұрын
It would be necessary to speak of the Aymara Nation or Colla Nation, since a new country is going to be formed in South America, the Aymara Nation is in Bolivia, southern Peru, northern Chile and northern Argentina, they are Native Americans, they have an extensive territory, a culture, their own music, a language, Aymara language that has been spoken since the days of the Tiwanaku Empire, they have everything in their favor, there will definitely be a lot of changes and they have a great opportunity to be a new power in South America
Abdul Harist Muqorrobin
Abdul Harist Muqorrobin 6 ай бұрын
As if those four countries are gonna let their territory secede. It's hard enough to secede from one country, let alone 4.
Je Ortiz-luis
Je Ortiz-luis 6 ай бұрын
Gt Bkts
Gt Bkts 7 ай бұрын
Thanks for the awesome content and great video!!!
Constantine B
Constantine B 5 ай бұрын
Michael H
Michael H 7 ай бұрын
1:00 notice! They had a Leonard DaVinci painting to sell. Who else can say that? The "super rich" investing in its people actually works better than taking their money.
Max Sonthonax
Max Sonthonax 5 ай бұрын
"Its people."
Pesmar 6 ай бұрын
Great video. Very informative. Thank you for the info. Please don’t pay attention to the ignorants who can’t stay focused and pay attention for a well documented video. Also, disregard the comments from socialists.
9trogenta 6 ай бұрын
I want a Liechtenstein World of Tanks map.
Dwight 6 ай бұрын
Good research and presentation thank you
Afrocanuk 3 ай бұрын
Makes me wonder how does Liechtenstein compare to an extremely rich country as Qatar.
Douglas Ай бұрын
And now that Liechtenstein no longer has their great banking privacy laws only the central banks and large governments can have banking privacy.
Kraut 7 ай бұрын
marvelous as always :)
Casual Scholar
Casual Scholar 7 ай бұрын
Thank you so much Kraut :)
mehmed Khan.
mehmed Khan. 6 ай бұрын
I'm definitely moving to liechtenstein any time from now.
Young Thugger
Young Thugger 4 ай бұрын
can you make one of these videos on switzerland please
Alaric Boyle-Poirier
Alaric Boyle-Poirier 2 сағат бұрын
These videos are great.
Carlos Fernandez
Carlos Fernandez 6 ай бұрын
I think this video makes the best case for decentralized governments and political and economic freedom just by pointing out facts
Asgaut Bakke
Asgaut Bakke 6 ай бұрын
Until a bad bank scandal in a Swiss bank in the early 1970's, Liechtenstein was known in Switzerland as "the Swiss bank of the Swisses themselves".
Movies Galore
Movies Galore 7 ай бұрын
I prefer the even smaller tiny Duchy of Grand Fenwick from the two hilarious movies "The Mouse That Roared" and "The Mouse on the Moon" those movies are brilliant satires.
Orangensigma 5673
Orangensigma 5673 6 ай бұрын
I’m Swiss, for me it’s somehow a part of switzerland we speak nearly the same language
AdRock 7 ай бұрын
How strange it would be to grow up in a country so small that you have to drive an hour to Zurich to do anything that requires a significant population (malls, nightlife, etc)
M. H.
M. H. 7 ай бұрын
They have some clubs, bars etc. over there
J H 7 ай бұрын
I thought everything in Zurich closed at 10pm
J G 7 ай бұрын
@J H you must be thinking of the village of Geneva...... where restaurants are closed on Sunday :-)
J H 7 ай бұрын
@J G So what's Zurich like?
Daniel Gstöhl
Daniel Gstöhl 7 ай бұрын
LMAO this is not the middle of siberia. somethIng like 300000 people live in the rhine valley... 🤦
Carmen Ramos
Carmen Ramos 2 ай бұрын
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
Dr Jack Liam
Dr Jack Liam 2 ай бұрын
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
Patrick Andrew
Patrick Andrew 2 ай бұрын
Despite utilizing the correct strategies and possessing the right assets, there can still be variations in the investment returns among different investors. It is important to acknowledge that experience plays a crucial role in investment success. Personally, I realized the significance of this and sought the guidance of a market analyst, which enabled me to substantially grow my account to nearly a million. I strategically withdrew my profits just before the market correction, and now I am taking advantage of the buying opportunities once again.
Anita Roger
Anita Roger 2 ай бұрын
Please can you leave the info of your investment advisor here? I’m in dire need for one
Patrick Andrew
Patrick Andrew 2 ай бұрын
My Financial Consultant is BRIAN FRANCIS PEARCE. I found him on a Kiyosaki interview where he was featured and reached out to him afterwards. He has since provided entry and exit points on the securities I focus on. I basically follow his market moves and haven’t regretted doing so. He often interacts on Telegrams, using the user name mentioned below
Patrick Andrew
Patrick Andrew 2 ай бұрын
Micah David Ehrich
Micah David Ehrich 2 ай бұрын
Love Liechtenstein!
anne jia
anne jia 5 ай бұрын
Now it's one of the 'fun fact' countries ❤
Jabs05 6 ай бұрын
Tax avoidance is always good to become rich.
Bair Mendoza
Bair Mendoza 6 ай бұрын
I would have NEVER guessed Ireland as #4 on the global GDP scale. Is it a tax haven too? Lol
Casual Scholar
Casual Scholar 6 ай бұрын
I have a video on it already!
Joe Bidet
Joe Bidet 6 ай бұрын
Don Marek
Don Marek 3 ай бұрын
Best of all, I bet this country lacks 'duh-versity' which is a great wealth factor in itself.
BAN WOKEISM 4 ай бұрын
I would have thought that the Vatican is the wealthiest country on the planet, it has less than a thousand pounds and has several billion dollars in Cash and mountains of valuable artwork and tons of gold
LM H 6 ай бұрын
Liechtenstein uses our currency, the Swiss Franc.
Fungis Rock
Fungis Rock 6 ай бұрын
The definition of playing tall.
drthrottle 5 ай бұрын
Good summary!
Maria 7 ай бұрын
Excellent health care and education financed by other nations' taxes. There is always some shady shit isn't there
Alex Yuu
Alex Yuu 6 ай бұрын
Yup, miracles dont just happen
Mr poxycat
Mr poxycat 7 ай бұрын
They have it good because of capitalism and high personal freedom. Wish more countries would go this route.
Ruby Clark
Ruby Clark 5 ай бұрын
WOW!!! Great History
Sebastian Olofsson
Sebastian Olofsson 7 ай бұрын
Well technically the US is the richest and the only reason because Lichtensteins gdpc is high is because they have a very small population. Total gdp is the worth of a countries products and services. You divide a countries gdp with the amount of population they have and then you get the gdpc.
Yanis Tiberius
Yanis Tiberius 2 ай бұрын
Yes but the proper way to measure how rich is per capita, a poor country can have higher overall GDP just because is 50 times bigger than a smaller rich one, but the small rich country has higher standards of living
Kenneth Selin
Kenneth Selin 6 ай бұрын
SMART corruption-free POLITICS makes for A PROPEROUS NATION. Undoubtedly. :D Ken, Toronto, Canada
Keith Lanteigne
Keith Lanteigne 6 ай бұрын
Very well made video. Take my sub.
Casual Scholar
Casual Scholar 6 ай бұрын
Glad you enjoyed! Welcome to the channel!
Barry Day
Barry Day 6 ай бұрын
Can we force our daft chancellor of the exchequer to watch this before he delivers the upcoming budget?
MC K 3 күн бұрын
Tankmania hypnotizing people to learn how to kill others
Rudy Rey
Rudy Rey 7 ай бұрын
Political institution and foresight are much more important for economic prosperity than geography and natural resources
Wild River
Wild River 6 ай бұрын
Since the small nation doesn't produce a lot, how is the cost of living, like food, cars, and everything else?
E S 6 ай бұрын
Just like in Switzerland, so pretty high
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