Liechtenstein (Principality of Liechtenstein)
|Flag of Liechtenstein
Liechtenstein is bordered by Switzerland to the west and south and Austria to the east and north. It is Europe's fourth-smallest country, with an area of just over 160 km2 and a population of 38,749. Divided into 11 municipalities, its capital is Vaduz, and its largest municipality is Schaan. It is also the smallest country to border two countries. Liechtenstein is a doubly landlocked country between Switzerland and Austria.
Economically, Liechtenstein has one of the highest gross domestic products per person in the world when adjusted for purchasing power parity. The country has a strong financial sector centred in Vaduz. It was once known as a billionaire tax haven, but is no longer on any official blacklists of uncooperative tax haven countries. An Alpine country, Liechtenstein is mountainous, making it a winter sport destination.
Liechtenstein is a member of the United Nations, the European Free Trade Association, and the Council of Europe. Although not a member of the European Union because it was not designed with microstates in mind, it participates in both the Schengen Area and the European Economic Area. It has a customs union and a monetary union with Switzerland.
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