An unassuming European country has been ranked among the richest in the world despite its small size. Switzerland extends across an area of just 15,940 square miles, making it the 21st smallest in the continent behind the likes of Vatican City and Malta.

However, a new report from the International Monetary Fund (IMF) estimated it boasts the third-largest GDP per capita rate in Europe.

With approximately $105,670 worth of goods and services produced per person, Switzerland placed shortly behind Ireland ($106,060) and Luxembourg ($131,380).

The European country has a population of 8.7 million and last year attracted five times that in international visitors, breaking records with 41.8 million overnight stays.

Adding to Switzerland’s earnings is its bustling financial sector and its economy benefits from the exports of precision instruments as well as medical devices and precious metals.

The country is also a popular investment hub as it boasts the lowest VAT rate in the whole of Europe. It was also ranked as the ninth happiest country in the world last year.

Divided into 26 cantons, two of them were included in the list of richest cities in the world earlier this year.

Zürich is an internationally recognised banking and financial centre and was crowned the best place to live in Europe in the European Commission’s latest report on quality of life.

The city is an ideal destination for those who do not want to give up contact with nature.

Also known as “the smallest metropolis in the world”, Geneva is not only a famous financial centre hosting major international credit institutions but also a city with an important cultural and historical heritage.

Surrounded by high Alpine peaks and the Jura Mountains, Geneva is a quiet town lapped by the placid waters of the homonymous lake.

Federal capital Bern stands on the banks of the River Aare, it serves as the political centre of Switzerland and is a popular tourist destination in its own right.

Prestigious achievements in the medical and scientific fields have given Bern an international reputation.

The rich offer in the fields of education and training, sport and culture make Bern a city where quality of life rates are outstanding.

And when it comes to Switzerland, many of the country’s top spots are incredibly pedestrian-friendly.

A recent study on walkability reveals that Lausanne is one of the world’s most pedestrian-friendly cities, with over 50% of its inhabitants choosing to walk or cycle.

The French-speaking city, located on the shores of Lake Geneva, has a cosmopolitan feel as it houses the International Olympic Committee headquarters.