Fourth edition of the Growth Monitor published with focus chapter on labor shortage

Now in its fourth edition, the Growth Monitor 2024 presents 85 indicators whose development is evaluated in terms of situation and trend. In addition to traditional economic indicators, indicators such as living conditions and resource consumption are also discussed. The set of indicators has been expanded, particularly in the labor market dimension, in order to better capture current developments in the areas of demographics and labor shortages.

The Liechtenstein economy has developed extremely dynamically and successfully in recent decades. Today, Liechtenstein is one of the most prosperous, innovative and stable countries in the world, with a comparatively very satisfied and healthy population. Even though economic growth continues to be positive in many areas, long-term growth in Liechtenstein has tended to slow down further in recent years. The main factors behind this are the less dynamic global demand and low productivity growth. In addition, the growth outlook is clouded by the current macroeconomic challenges in the context of geopolitical fragmentation, the green transition, the monetary environment and demographic trends.

In addition, the high level of economic activity in Liechtenstein is accompanied by a high demand for labor, especially for highly qualified workers. At the same time, the demographic trend in Liechtenstein is unfavorable and the labor market indicators suggest that the labor participation of women and older people is not yet being fully exploited.

With regard to the sustainability of economic growth, it can be stated that Liechtenstein's economic activity continues to be accompanied by considerable costs for the environment. Nevertheless, the desired trend reversal can now be seen in individual indicators. However, the available official statistics on the Sustainable Development Goals (UN) are still too thin for a more comprehensive assessment of the sustainability of Liechtenstein's economy.

Overall, Liechtenstein appears to be well equipped to meet the current challenges to economic growth. For the future success of Liechtenstein's economy, however, private efforts for the innovation location continue to be of central importance, as does a stronger commitment of public budgets in the areas of research and education. In times of increasing global uncertainty and geopolitical fragmentation, it is also important to strengthen national resilience and security.

Liechtensteiner Wachstumsmonitor 2024 ist da. Radio Liechtenstein, 24 February 2025

Wertschöpfung: Industrie überholt Finanzplatz. Der Wachstumsmonitor Liechtenstein zeigt einige überraschende Ergebnisse. Contribution by Patrik Schädler, Wirtschaft Regional, 28 February 2025.