Slovenia

Slovenia - Is officially known as the Republic of Slovenia. Slovenia is a European Country and shares borders with Italy, Croatia, Hungary, Austria and the Adriatic Sea. The lands lands Slovenia were once part of the Austro-Hungarian Empire until the end of World War I. In 1918, the Slovenes joined the Serbs and Croats in forming a new multinational state, the Yugoslavia in 1929. After World War II, Slovenia became a republic of the renewed Yugoslavia, which though Communist, distanced itself from Moscow's rule. Dissatisfied with the exercise of power by the majority Serbs, the Slovenes succeeded in establishing their independence in 1991 after a short 10-day war. Historical ties to Western Europe, a strong economy, and a stable democracy have assisted in Slovenia's transformation to a modern state. Slovenia acceded to both North Atlantic Treaty Organization and the European Union in 2004. Slovenia has the highest per capita Gross Domestic Product in Central Europe, Slovenia also has excellent infrastructure, a well-educated work force, and a strategic location between the Balkans and Western Europe. Despite its economic success, foreign direct investment (FDI) in Slovenia has lagged behind the region average, and taxes remain relatively high. Furthermore, the labor market is often seen as inflexible, and legacy industries are losing sales to more competitive firms in China, India, and elsewhere.
Slavic ancestors of the present-day Slovenes settled in the area in the 6th century. The Slavic principality Carantania was formed in the 7th century. In 745, Carantania was incorporated into the Carolingian Empire, while Carantanians and other Slavs living in present Slovenia converted to Christianity.