Liechtenstein
- Devika Dwivedi
- Nov 8, 2018
- 2 min read
Updated: Sep 19, 2020
Have you ever heard of Liechtenstein? Over the last summer, I did some research about the country and its current events. I learned a lot about Liechtenstein and events regarding cryptocurrency. I really loved learning about this country and I hope to visit it someday.
What is Liechtenstein:
Liechtenstein is a doubly landlocked country located between Austria and Switzerland. On the West, the Rhine River marks the boundary between Switzerland and Liechtenstein. Mountainous land leads to Austria in the East. The capital, Vaduz, is located near the western edge of the country. Liechtenstein is a total of 62.5 sq. miles (160 sq. kilometers) -- less than half the size of Seattle.
People and Government:
Like its size, the population of Liechtenstein is very small. With 38,240 people, the population is 11 times smaller than that of Seattle. The majority of people are Roman Catholics and speak German.
Liechtenstein is a Constitutional Monarchy with three major roles of power: chief of state (Prince Hans Adam II), hereditary prince (Prince Alois), and the prime minister (Adrian Hassler). Other major parts of the government include, the Parliament, with 25 seats, and a Supreme Court, with 5 judges.
Economy:
Liechtenstein's economy is very linked to its neighbors. For example, its national currency is Swiss franc, and over half of its workforce comes from Switzerland and Austria. Even though it has low natural resources, Liechtenstein has many successful industries. These include electronics, metal manufacturing, pharmaceuticals, food products, etc.
Liechtenstein's economy is very strong, in fact, it has one of the highest per capita GDP in the world. Liechtenstein is also one of the first countries in the world to build a government regulated cryptocurrency exchange.
Military and Security:
The Liechtenstein National Police is responsible for keeping order in the country. Due to one of the lowest crime rates in the world, Liechtenstein's prisons are mostly empty, and inmates many are transferred to Austrian prisons.
Liechtenstein is one of the only countries in the world to maintain no military. They rely on neighboring countries for military support, however there is no need for a military since they have good relations and follow a neutrality policy.
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