How an Isolated Valley Became the World's Richest Country

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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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CASUAL SCHOLAR IS MADE POSSIBLE BY OUR PATREON COMMUNITY!
Support the channel by becoming a Patron today! 👉 www.patreon.com/CasualScholar
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Talon Hickey, Hayden Haun, Emmanuel Fredenrich, Pulaski, Adrian Willenbücher, Hallucination
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
- 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
www.heritage.org/index/countr...
www.businessinsider.com/liech...
www.economist.com/1843/2019/0...
www.cia.gov/the-world-factboo...
www.liechtensteinusa.org/page...
www.britannica.com/place/Liec...
www.latimes.com/archives/la-x...
www.liechtenstein-institut.li/application/files/4315/7435/2841/LIAP_049.pdf
#Liechtenstein #LiechtensteinEconomy #LiechtensteinHistory #Economics #CasualScholar #History

[Casual Scholar]

Play World of Tanks here: tanks.ly/3YEhhRZ 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]

When is that Argentina video supposed to come out?

[Warren Don Paul]

Pàaa

[Bruh]

no 🤯

[Pioneer_11]

Honestly one of the funniest promo's I've ever heard

[tom kent]

I think we aleady knew that!

[Wayne's World of Science and Technology]

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.]

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]

Thanos was right 😂

[CocoCalypso]

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]

Is Guernsey part of England ? I’m always asking this question and I’m facinated on the island

[ArchieDoesRandomStuff]

@JM Gonzaga yes part of uk

[reddwarfer999]

@ArchieDoesRandomStuff Guernsey isn't part of the UK, it is a Crown Dependency.

[Danny McClelland]

"Unemployment is barely above 1%" Imagine the whole country knowing which 400 people don't have jobs lol

[Crowy]

Lol

[EMS]

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]

@EMS no because disabled people aren't part of the total working force so they're out of the equation...

[The Bray Bomber]

The rest supply the others with sniff 🤧

[KopaZ]

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]

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]

I did the exact same thing! Also went up into the hills above Vaduz - gorgeous landscapes there too

[Andrew Williams]

@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]

Was it expensive?

[P Davison]

@Pulvär No!🙄

[Bruce Baum]

How could it not be expensive, like how much for a 3/4 star hotel, average lunch or dinner?

[Matt Lee]

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]

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]

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]

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]

180 years later

[charles moss]

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]

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]

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]

@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]

​@Florian Maier Monaco?

[Surya Hadiwinatas]

​@Florian Maier Principality of Monaco and Grand Duke of Luxembourg

[Geri Rijk]

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]

TAX.

[Geri Rijk]

@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]

@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]

Hilti great tools😊

[Max Sonthonax]

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]

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]

This The success or failure of almost any political system hinges on points 1, 6 and 7

[Above Board & Beyond Control]

Once again, Casual Scholar delivers another fantastic video! Very informative and entertaining!

[Tobias]

It's not a great analysis, and it's full of baseless assumptions.

[ROXANNE]

@Tobias 👎

[ROXANNE]

@Footnote Society AGREED!

[Max Sonthonax]

I think if you listen closely it is neither of those things. It's merely a vehicle for a revenue stream.

[ROXANNE]

@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]

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]

​Anno Kitsune International or Domestic?

[Michael Aleksovski]

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]

It’s very hard to get in and reside. As a company,it’s easier. And citizenship is extremely hard to obtain

[ric gunn]

Be a ski champion

[Max Sonthonax]

It's not odd, it is logical. Were you not paying attention? TAX HAVEN.

[Cisium]

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]

Can u share her name?

[dork triogamer]

This kinda shows to me that no matter a countries unfortunate situation it can still work well

[Valton Tony]

except if they're in an ongoing war

[Soff1859]

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]

@Soff1859 Scotland is not rich.

[S asi58]

​@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]

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]

"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]

Kenneth Selin 2 days ago SMART corruption-free POLITICS makes for A PROPEROUS NATION. Undoubtedly. :D Ken, Toronto, Canada

[S asi58]

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]

Taxes are immoral

[12vscience]

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]

This should be mandatory viewing in every business school. Awesome channel.

[Kevin Darroch]

Lichenstein, it is a truly beautiful country. Smart, thinking people.

[xenotypos]

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]

It's almost as if it better to keep government small and decentralized.

[G D]

Please CHECK what a "tax heaven" is (perhaps consult OECD - if you know what that means - which I doubt LOL).

[xenotypos]

@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]

@xenotypos Bro I think he's just highlighting how you wrote tax heaven and instead of tax haven.

[Arthas Menethil]

Being a tiny country in the EU surrounded by wealthy countries and large economies with high taxes helps a lot.

[Harry Sutton]

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]

Thank you. I learned a lot. Now, I would like to visit there. Quite beautiful. Bravo.

[Alex Seesing]

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]

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]

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]

​@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]

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]

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]

Gorgeous country with gorgeous people 👍❤️ GREETINGS FROM SERBIA 🇷🇸❤️❤️❤️❤️❤️

[Bingo]

Normal people, like everywhere else.

[Jordi Jimenez]

That’s 99.9% of the world

[Nelson Templar]

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]

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]

Without saying the name, it’s not fun at all. Boring

[Matt Cooper-Kay]

Huh, I had no idea Intamin were based there.

[Nash Wagemakers]

@Sean Bryan Forgot! Intamin :)

[Nash Wagemakers]

@Matt Cooper-Kay yea quite insane but also cool

[charmerci]

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]

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]

An astute & moronic analysis. 🤔

[Mark Lisiecki]

God bless the Western civilization !!!!

[Metalosopher]

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]

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]

Tax haven. There. Saved you 17 minutes.

[Tau ceti]

Hate it when rich people hide from paying their fair share of taxes😡

[Rob G]

@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]

Thanks for the time save.

[Abiril the Archer]

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]

@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]

I really wish we can have similar success stories here in the african continent

[Nukes 'R' Us]

Give it a few decades. I believe it will happen.

[Hayha]

Rwanda is doing it

[Arnarog Hael]

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]

​@Hopping Rabbit That would be a good move if you're government use those remittance money in good use, not in corrupt way.

[Tobias]

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]

I mean it seems pretty simple why it would be less corrupt

[Tobias]

@Marek It's not simple. Such things are multifacated. There are cultural and historical factors as well

[G D]

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]

@Hopping Rabbit No correlation

[Joseph Turner]

The only country in history to send its army to war and returned +1. With no casualties.

[Viktor D.]

This is a myth

[A long lost memory]

​@Viktor D. Religion is also

[A long lost memory]

​@Viktor D. That's the beauty about myths

[Birdman]

@A long lost memory not related to the statement at all

[Rey Infante]

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]

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]

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]

The Republic of Ireland soccer team once held Liechtenstein scoreless. #Memories.

[Don T Comply]

Pick on a country your own size

[Wild card]

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]

LOL, do you have other silly jokes?

[Igor Jose]

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]

Dubai is following similar policy. I wonder why the big neighbors did not sanction companies using smaller countries as tax heavens ?

[the lone Wanderer]

Damn I was hoping for a video about Luxembourg, but this is great too...

[Matthias Thym]

Could make a video about the steel industry of Luxembourg :)

[Aidan Aldrich]

Low taxes, small government, and little financial regulation. I wish more countries followed this model instead of stifling business

[Allan Dacruz]

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]

Dont' stop Liechtensteining! As a live motto

[Shikha Sharma[she,her]]

Having Austria and Switzerland as neighbours makes them instantly rich.

[Nolesy]

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]

Liechtenstein's royal family is the best example for other royals. They should love their state not their title.

[Bert Veening]

@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]

@Hopping Rabbit I'm living in a regal system. The bureaucracy means things get done quicker without red tape

[S asi58]

​@Bert Veening there is no such thing as an outdated political system.

[Bert Veening]

@S asi58 You just failed English 101.

[S asi58]

@Bert Veening elaborate further

[Nordi Tico]

"Facilitating complex business structures" nice words for money laundering and tax heaven.

[Faisal Reza]

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]

Yet it is the whole point of making the video: to be a revenue stream.

[Marinho Brandão]

A nice way to picture a tax haven 😄

[Gina Belisario]

Being small has a positive equity inside and outside of other countries. Ability effective and accountable government.

[ROXANNE]

Thank you for another fantastic video. 👍

[Ken Smith]

I want to move there!😊

[John Earle]

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]

Basically Tiny factory for sophisticated equipments Accounting department for multinationals Tax Haven similar to Switzerland

[Awesome Cosmopolite]

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]

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]

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]

LOL

[Gt Bkts]

Thanks for the awesome content and great video!!!

[Constantine B]

I WOULD FIND IT SCARY TO LIVE IN A NATION THAT COULD NOT FEED ITSELF. THEN AGAIN MY NATION COULD BE COMPLETELY SELF SUFFICIENT AS WE HAVE ANY RESOURCES FOUND ON PLANET.

[Michael H]

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]

"Its people."

[Pesmar]

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]

I want a Liechtenstein World of Tanks map.

[Dwight]

Good research and presentation thank you

[Afrocanuk]

Makes me wonder how does Liechtenstein compare to an extremely rich country as Qatar.

[Douglas]

And now that Liechtenstein no longer has their great banking privacy laws only the central banks and large governments can have banking privacy.

[Kraut]

marvelous as always :)

[Casual Scholar]

Thank you so much Kraut :)

[mehmed Khan.]

I'm definitely moving to liechtenstein any time from now.

[Young Thugger]

can you make one of these videos on switzerland please

[Alaric Boyle-Poirier]

These videos are great.

[Carlos Fernandez]

I think this video makes the best case for decentralized governments and political and economic freedom just by pointing out facts

[Asgaut Bakke]

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]

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]

I’m Swiss, for me it’s somehow a part of switzerland we speak nearly the same language

[AdRock]

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.]

They have some clubs, bars etc. over there

[J H]

I thought everything in Zurich closed at 10pm

[J G]

@J H you must be thinking of the village of Geneva...... where restaurants are closed on Sunday :-)

[J H]

@J G So what's Zurich like?

[Daniel Gstöhl]

LMAO this is not the middle of siberia. somethIng like 300000 people live in the rhine valley... 🤦

[Carmen Ramos]

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]

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]

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]

Please can you leave the info of your investment advisor here? I’m in dire need for one

[Patrick Andrew]

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]

BRIANPEARCEFX

[Micah David Ehrich]

Love Liechtenstein!

[anne jia]

Now it's one of the 'fun fact' countries ❤

[Jabs05]

Tax avoidance is always good to become rich.

[Bair Mendoza]

I would have NEVER guessed Ireland as #4 on the global GDP scale. Is it a tax haven too? Lol

[Casual Scholar]

I have a video on it already!

[Joe Bidet]

Yes

[Don Marek]

Best of all, I bet this country lacks 'duh-versity' which is a great wealth factor in itself.

[BAN WOKEISM]

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]

Liechtenstein uses our currency, the Swiss Franc.

[Fungis Rock]

The definition of playing tall.

[drthrottle]

Good summary!

[Maria]

Excellent health care and education financed by other nations' taxes. There is always some shady shit isn't there

[Alex Yuu]

Yup, miracles dont just happen

[Mr poxycat]

They have it good because of capitalism and high personal freedom. Wish more countries would go this route.

[Ruby Clark]

WOW!!! Great History

[Sebastian Olofsson]

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]

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]

SMART corruption-free POLITICS makes for A PROPEROUS NATION. Undoubtedly. :D Ken, Toronto, Canada

[Keith Lanteigne]

Very well made video. Take my sub.

[Casual Scholar]

Glad you enjoyed! Welcome to the channel!

[Barry Day]

Can we force our daft chancellor of the exchequer to watch this before he delivers the upcoming budget?

[MC K]

Tankmania hypnotizing people to learn how to kill others

[Rudy Rey]

Political institution and foresight are much more important for economic prosperity than geography and natural resources

[Wild River]

Since the small nation doesn't produce a lot, how is the cost of living, like food, cars, and everything else?

[E S]

Just like in Switzerland, so pretty high