Swiss Confederation

Capital: Bern                                                      HDI: 0.917 (3rd)

Language: German, French, Italian, Romansch

GDP (PPP): $472.8 billion

Population: ~ 8.1 million

Currency: Swiss Franc

 

Switzerland is one of the wealthiest countries on earth and the Global Competitiveness Report ranks the country as the most competitive economy in the world. This ranking comes from Switzerland’s reputation for political stability, excellent infrastructure, a well-developed financial sector, and low corporate taxes. The fiercely independent mountain nation is landlocked and completely surrounded by both the European Union and Eurozone, which it has chosen not to take part in for political and financial freedom reasons. Despite this the Swiss economy is very much reliant on the economic health of its neighbors due to its export industry. The robust Swiss financial sector is famous for its tradition of bank secrecy, although the practice was slightly changed in 2009 to prevent tax evasion by non-Swiss clients.

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