Economy
Small and middle-sized businesses dominate the economy of Obwalden. Many of them are specialists in areas such as miniature engines, synthetics, medical equipment or nano technology.
Traditional areas are still of great importance. Particularly forestry and related businesses are significant, as is agriculture. Agriculture in Obwalden is specialized in integrated dairy and meat farming. The farms are still family run.
In 2007 Obwalden replaced the former degressive income tax (lower tax rates for higher incomes) with a flat 1.8% income tax, which is the lowest in the country. This cantonal tax is in addition to federal and local taxes.
As of 2010, Obwalden had an unemployment rate of 1.5%. As of 2008, there were 1,871 people employed in the primary economic sector and about 750 businesses involved in this sector. 6,499 people were employed in the secondary sector and there were 452 businesses in this sector. 10,037 people were employed in the tertiary sector, with 1,380 businesses in this sector.
In 2008 the total number of full-time equivalent jobs was 15,215. The number of jobs in the primary sector was 1,157, of which 1,052 were in agriculture and 105 were in forestry or lumber production. The number of jobs in the secondary sector was 6,008 of which 3,648 or (60.7%) were in manufacturing, 46 or (0.8%) were in mining and 2,139 (35.6%) were in construction. The number of jobs in the tertiary sector was 8,050. In the tertiary sector; 1,892 or 23.5% were in the sale or repair of motor vehicles, 520 or 6.5% were in the movement and storage of goods, 1,440 or 17.9% were in a hotel or restaurant, 140 or 1.7% were in the information industry, 347 or 4.3% were the insurance or financial industry, 708 or 8.8% were technical professionals or scientists, 528 or 6.6% were in education and 1,213 or 15.1% were in health care.
Of the working population, 10.7% used public transportation to get to work, and 54.6% used a private car.
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Famous quotes containing the word economy:
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—Henry David Thoreau (1817–1862)
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—Friedrich Nietzsche (1844–1900)