Economy
Andorra la Vella is the country's commercial centre. In the country as a whole, 80% of the GDP is derived from the 14 million tourists who visit annually. The city is also the centre for the many banks and businesses that thrive from its tax haven status. The state is not a member of the European Union, but has a customs arrangement with the EU, and uses the euro.
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Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“The basis of political economy is non-interference. The only safe rule is found in the self-adjusting meter of demand and supply. Do not legislate. Meddle, and you snap the sinews with your sumptuary laws.”
—Ralph Waldo Emerson (1803–1882)