Andorra

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Andorra business opportunities are largely related to the nation’s tourism industry. Both a summer and winter resort destination, Andorra boasts hundreds of hotels, restaurants and small retail shops that cater to predominantly French and Spanish visitors. Drawn to the iconic surroundings of the eastern Pyrenees Mountains and Andorra’s duty-free status, local businesses enjoy upwards of 10 million visitors annually. Apart from tourism, other Andorra business sectors include banking (with tax haven status), tobacco, furniture manufacturing, sheep raising, perfume and cosmetics and other light industry. On the downside, most food and energy has to be imported (with the exception of some hydroelectric production), making it susceptible to outside market volatility. Adding to economic uncertainty is the erosion of Andorra’s duty-free advantage and the vulnerability of its economy to a distressed French and/or Spanish economy.

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