Entrepreneurship in Andorra
Andorra is located in the Pyrenees mountains, a land locked country between France to its north and Spain to its south. Measuring 468 sq kms, it’s the sixth smallest country in Europe, sixteenth smallest country in the world. With a population of approximately 80000 people, it is the eleventh smallest country in the world by population numbers.
Tourism is the main occupation for Andorran’s, contributing 80% of the GDP, attracting more than 10 millions tourists annually. Being a mountainous country only 2% of the land is arable, which is used to grow tobacco, which in turn supports manufacturing of cigarettes and cigars. The Banking sector contributes 19% to the GDP, as it enjoys a tax haven status. Euro is the official currency, and besides that it also enjoys many EU trade privileges despite being a Non EU country.
Initiatives towards developing an entrepreneurship / startup ecosystem have been taken but various people and organisations, but not much has happened in the region. What seems to work in all of the other countries for an ecosystem to support and sustain entrepreneurship and starting up, may not necessarily work in Andorra. The opportunity lies in thinking out of the box for this landlocked small country to make a mark in entrepreneurship.
The following links provide for some useful read