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Modern-day prosperity

Although neutral and not involved in the fighting, Switzerland suffered badly during the First World War when foreign visitors were unable to reach the country and markets for its engineering products dried up. Post war recovery was led by the banking sector. Political and economic turmoil in Russia and Germany boosted Swiss bank receipts. Swiss neutrality made it the obvious location for multinational bodies such as the League of Nations and the International Red Cross. The Swiss economic miracle has continued since the Second World War with industries such as watch making, precision engineering and electrical generation becoming world leaders. Modern-day Switzerland has the highest nominal capital per head in the world and the second highest life expectancy. Transport systems by rail and road are world leaders and the country has an aura of order and cleanliness. The Swiss are justifiably proud of what they have achieved. European Union member countries surround Switzerland but it is not a member. The Swiss have however signed the Schengen accord, creating open borders with their neighbours, and are participants in the European Health Insurance Card system allowing free emergency medical treatment to European visitors.