Andorra’s GDP in 2007 was $3.66 billion (CIA), with tourism as its principal component. Attractive for shoppers from France and Spain as a free port, the country also has developed active summer and winter tourist resorts. With some 270 hotels and 400 restaurants, as well as many shops, the tourist trade employs a growing portion of the domestic labour force. An estimated 9 million tourists visit annually.
Andorra is very open to international trade and offers advantageous fiscal legislation, although the country has now entered a period of “normalizing” its fiscal environment. In spite of not being a member of the European Union, the country is treated as an EU member in terms of trading manufacturing goods (without applying customs duties), but as a non-EU member in the case of agricultural products. Customs duties do not exist in Andorra, the country is easily accessible and likewise, there are no trade barriers. This has made of Andorra an important international center of retail trade that attracts millions of shoppers from all over Europe.
Andorra Business Database
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