Economy

The Grand Duchy in third position in the Global Talent Competitiveness Index

Emphasis placed on quality of living, international environment, and high level of qualifications

Global Talent Competitiveness IndexOn 19 January 2016, INSEAD published its Global Talent Competitiveness Index (GTCI), an annual study drawn up in collaboration with the Adecco Group and the Human Capital Leadership Institute (HCLI) of Singapore. Switzerland, Singapore and the Grand Duchy of Luxembourg occupy the top three places, as they did last year.

Quality of living is particularly outstanding in the Grand Duchy.

This year's theme - Talent Attraction and International Mobility - focuses on the important correlation between the movement of talent and economic prosperity. Mobility plays an essential role in making up for shortfall in skills; a large number of innovative entrepreneurs and workers are born or have studied abroad. So it's not surprising that those countries with the best performances are considered attractive destinations for highly qualified workers.

The top three countries are Switzerland, Singapore and the Grand Duchy, followed by the USA, Denmark and Sweden. Germany ranks 14th, Belgium 18th and France 22nd.

The index includes a number of secondary indicators, which consolidate the Grand Duchy's ranking: according to the Index, the Grand Duchy ranks second in terms of ability to retain talent installed in the country, proof of the high quality of living the Grand Duchy provides. The same applies regarding the qualifications of employees in the Grand Duchy, with the Index indicating a level that is well above the average. A final element contributing to this exemplary ranking is the Grand Duchy's degree of openness to other countries and the large community of international employees.

Mobility is the challenge of the 21st century.

Some of the lessons learned from the report:

  • Mobility has become a major element in developing talent: it is not possible to develop creative talent without encouraging international mobility and 'brain circulation'.
  • Management practices make a difference: alongside financial incentives and the level/quality of living, another important element of differentiation with regard to attracting talent is the professionalism of management and investment in employee development.
  • In a world marked by the circulation of talent, towns and regions become important players in competitiveness with regard to global talents: the agility and image of cities appear to be more strategic elements of differentiation than size, although a growing number of large cities are adopting creative policies for attracting international talent.

The GTCI (Global Talent Competitiveness Index) is a global index intended for use by national governments, businesses and individuals that makes it possible to identify the different countries' capacity to attract, develop and retain talent.

(Source: Adecco press release)

  • Updated 30-09-2016