Liechtenstein: The Tiny Country With the World's Highest GDP and Surprising Wine
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Liechtenstein is one of only two doubly landlocked countries in the world — surrounded entirely by countries that are themselves landlocked (Switzerland and Austria). It is also one of the world's smallest countries at 160 square kilometres and one of its wealthiest per capita — a consequence of low corporate taxes that attracted financial services and precision manufacturing, and a dental technology industry that produces a significant fraction of the world's dental prosthetics.
The country was once significantly poorer. Liechtenstein experienced substantial emigration in the 19th century as its alpine agriculture could not support the growing population. The prince sold family artworks and jewels during the 20th century to maintain the royal household. The economic transformation to financial centre and precision industry happened after World War Two and was deliberate and successful. Liechtenstein now has essentially zero unemployment.
The Rhine Valley vineyards on the western edge of the country produce wines that are consumed almost entirely within Liechtenstein and by visitors, with production too small to export significantly. The Pinot Noir in particular is considered of high quality by those who manage to try it. Liechtenstein stamps — the national postal service has issued collector's stamps since 1912, and stamp collecting revenue has historically been economically significant for the principality — are among the most collected in the world. The country is better known to philatelists than to most travellers.
