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Economy of Switzerland - Essay Example
Switzerland a picturesque country, located the heart of Europe is generally known around the world as a dream destination for tourism purposes. Be it a married couple, a old couple re-living down the memory lane or a gala business conference, Switzerland marks the first entry as a purist destination for the purpose…
The country's political environment too is characterized by a high degree of decentralization with adequate amount of autonomy and authority delegated to the 26 cantons (Datamonitor, 2007).
Macroeconomic indicators happen to be good measure of the economic development of a country as these measures keep track of the life-style of the citizens and the problems faced by them while trying to arrange for the living. Sound macroeconomic indicators help in strengthening the base for a lasting growth of a nation. Some of the macroeconomic indicators over the last couple of years can be summarized for the country as follows;
Gross Domestic Product (GDP) happens to be the key driver of macroeconomic conditions in a country. It is calculated as1 'the total market value of all final goods and services produced in a country in a given year, equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports'. Switzerland has seen consistent growth in its GDP over the years, but it appears that is not good enough for it to maintain its leading position amongst similarly placed nations. OECD (2007) in its survey, while lauding the high levels of GDP per capita for Switzerland, also expresses concern over the continuous erosion of Switzerland's relative position over the past decade. ...