As the world moves into the Post Pandemic era, there is a definite attempt to return to what was once considered normal, a general desire by the greater part of the global population to adopt lifestyles that were abandoned two and a half year ago.
Here in Andorra, we are enjoying the first post pandemic Summer, and the Government and various institutions and local councils are in full swing, organising music festivals, markets and ironically as a Country where tobacco and Alcohol is the cheapest in Europe, the country is alive with Sporting Festivals, and Bike Races of international repute.
As a small Mountain Country that prides itself on healthy outdoor lifestyles, Andorra, has economically struggled through the last two years with an almost 100% reliance on Tourism, and no dependency on industry or agriculture. But Summer of 2022 has filled the streets with the will to compete that has been stored up for two years, and individuals who finally have the opportunity to compete in the open, clean mountain air, taking in some of the most spectacular alpine scenery in the Pyrenees. Andorra has burst into life ....... again, with high hotel occupancy rates, the shops are again full of tourists looking to take advantage of Duty-Free prices in their personal combat against the current rise in inflation.
With the conflict in Ukraine, inflation, and the rising fuel prices, and energy crisis effecting the European Community, currently effecting the lifestyle of hundreds of millions of Europeans (not to mention the ongoing effects of the Brexit and the consequences for the owners of properties in the E.U.), it is only a quick glimpse into the rear view mirror to understand how good life was in 2018. With storm clouds appearing on the horizon, Andorra can continue to look forward with enthusiasm, and a certain amount of cautious positivity, as the economy is flourishing again. The promise of higher prices, and higher taxes in neighbouring countries virtually guarantee the continuation of the influx of tourists looking to take advantage of Andorra's low consumer prices, not to mention high net worth individuals looking for the fiscal security that Andorra offers to Passive Residency Applicants.
The ongoing financial impact of the pandemic, inflation, and the debt accrued over the past 2 years, loom overhead like storm clouds, and inherently the last thing that the global population need right now as they try to separate themselves from the most forgettable of 30 months past. While Politicians and statesmen use verbal calisthenics to contort dialogue to different forms to try to disguise the fiscal storm-waters on the horizon, everything points towards a grim immediate future, where the usual suspects of the high-net-worth individuals and businesses will be the victims of higher taxes and economical easing for the greater part of the population, as national economies do their utmost to tread water.
As in the past when the global economy has grind to a halt, Andorra has acted as a harbour in the storm for both individuals and companies to shelter from the difficult times. The Andorran Government continues to look to improve infrastructures, and the living standard of all Andorran residents, and yes, it is true, when Europe suffers economic downturn, it has a knock-on effect in Andorra, and the Andorran economy, however, the protective system that Residency in Andorra offers, efficiently protects the wealth and well-being of its residents.
In summary; the sun finally shines above the Pyrenean Country of Andorra, and the residents of Andorra, and their government are working together to ensure that the good times are prolonged for the maximum amount of time possible. While there may be trouble ahead, especially in the European Union Countries, Andorra will continue to protect the security and well-being of its residents to ensure that the effects of a European Recession are felt as little as possible.