Discover why Andorra is one of the richest countries in Europe. The Principality has achieved solid economic growth, surpassing economic powers such as France and the United Kingdom, with a GDP per capita already 20% higher than Spain. With vibrant tourism, a reformed financial sector and a diversified economy, Andorra offers stability and unique opportunities. Access the full article and learn all the details of this economic success.
Andorra has been recognized as the safest country in the world, according to studies by CEOWORLD and Numbeo. With top safety rankings, this small country in the Pyrenees offers residents and visitors a peaceful environment, high quality of life, stunning nature and high-quality healthcare and education systems.
Recent figures published by the European statistical office, Eurostat, and the rating agency Moody's reveal that Andorra has a GDP per capita that surpasses the European average with a stable and growing economic forecast through 2027.
Andorra-La Seu airport opens a new air route to connect Andorra with Palma de Mallorca during the winter. This alternative brings Andorra closer to foreign countries and generates new economic synergies.
The Government of Andorra has signed a Double Taxation Agreement – DTA with the Netherlands in October 2023 and is in the process of finalizing previous agreements with South Korea and Belgium. What implications do these agreements have for investors, residents and non-residents of Andorra?
The international agencies Fitch Ratings and Standard & Poor's have provided a positive assessment of the Principality's economy, defining the country as a secure investment destination, with anticipated economic growth extending at least until 2026.
These regulations have allowed Andorra to adapt to the new innovation and digital transformation models and have made the country more competitive at an international level, therefore, more attractive to entrepreneurs.
The increasing activity of the airport, together with the future improvements and the demand of the business sector that sees business opportunities in the economic and financial model of Andorra, make it possible to foresee the opening of new scheduled flights and routes.
Andorra has been studying its potential for growing cannabis for some years as a way to diversify the agricultural sector and its economy. The project on the cultivation of cannabis for therapeutic use will be completed by the end of 2022.
As of 17 May 2022, all companies and entities of the country registered in the Principality of Andorra, or constituted in accordance with the Andorran laws, will be affected by the new Data Protection Law. At IS21 we can help you take the necessary steps for your company to comply with the new legislation.