On 16 December 2016, the financial rating agency DBRS analysed the prospects of the Luxembourg economy for the first time, and awarded the Grand Duchy a triple A rating, with stable prospects.
The Berenberg Bank and the Lisbon Council have just published the 6th edition of the study on the adjustment and overall health of the economies of the EU-28 countries, called Euro Plus Monitor 2016. The study analyses and ranks the countries on a scale of virtue ranging from 0 (the worst performance) to 10 (the best), basing its analysis on two composite indexes.
GfK, a company that specialises in market and consumer studies, has just updated its study on purchasing power in Europe. The Purchasing Power Europe 2016 study measures purchasing power per inhabitant in 42 countries, after deducting taxes and social charges, and including all benefits received from the State.
At the end of 2016, the International Telecommunication Union (ITU) published the new edition of its report entitled 'Measuring the information society'. The report analyses the introduction of information and communication technologies (ICT) in 175 countries and the potential for ICT-related development.
The objectives of this report are to evaluate how different countries of the world: develop; attract; retain talents in their territory. A study that makes sense to the extent that the talents of a country are resources every economy and every business needs to grow and create sustainable added value.
In the 20th edition of the half-yearly Global Financial Centres Index, the consultancy agency Z/Yen evaluated 87 financial centres from all over the world according to their competitiveness. In this ranking, Luxembourg comes in 12th position globally and in 3rd position of the European financial centres. In all, the index confirms the dynamism and the international outlook of the financial centre.
According to the third edition of the InterNations annual report, the Grand Duchy attracts a large number of expats. The ranking is based on a survey of expats who awarded marks to various aspects of expat life (quality of life, family life, cost of living, etc.) in 67 destinations worldwide.
In July 2016, the European Commission published a new edition of its European Innovation Scoreboard (EIS). According to the scoreboard, Luxembourg comes in 9th position among the 28 member states of the European Union, as far as innovation is concerned.
Due to its excellent strategic location, Luxembourg has established itself as an ideal intercontinental logistics operations hub for value-added logistics activities. And this is no news for a country that has been promoting the logistics sector for years. However, a recent World Bank study underpins Luxembourg's great achievements in this domain. While Luxembourg honorably ranked in eighth place in 2014, it arrives in second today.
In the 2016 edition of the Mercer Cost of Living Survey, Luxembourg City ranks 86th globally, together with Brussels. Compared with the 2015 edition in which Luxembourg City ranked 94th, costs of living have slightly grown for expats.
In the 2015 edition of the World Competitiveness Yearbook of the Swiss International Institute for Management Development (IMD), Luxembourg loses a few ranks and ends up 11th among the world's 61 most competitive countries. The Grand Duchy has to accept some harsh setbacks in some of the sub-indicators.
In the most recent edition of the Xpatulator ranking, published in April 2016, Luxembourg ranks 47th in the list of the most expensive countries in the world for expatriates. Belgium ranks 60th, Germany 75th, the Netherlands 83rd and France 86th.
It would seem that Luxembourg is a country where life is good. At least that is what a study on happiness, published by the 'Earth Institute' at Columbia University, reveals, the famous 'World Happiness Report'. In this study, conducted between 2013 and 2015 in 156 countries, the Grand Duchy is placed in 20th position (2014: 19th place).
At the beginning of March 2016, the Economist Intelligence Unit (EIU), part of the group The Economist, published a new edition of its bi-annual report about the cost of living in cities worldwide. The world ranking in March 2016 is led by Singapore, followed by Zurich and Hong Kong in the second position. Luxembourg comes in 66th place in the world ranking.
On 15 February 2016, fDi Magazine (belongs to the Financial Times group) published a new edition of its ranking 'European Cities & Regions of the Future 2016/2017', measuring the attractiveness of European cities and regions for foreign investors. In this 2016 edition, the City of Luxembourg ranks 9th in the overall ranking of European cities of the future.
The American 'Heritage Foundation', in partnership with The Wall Street Journal, has published the 22nd edition of the 'Index of Economic Freedom'. The Grand Duchy occupies 19th place in the ranking, which compares economic freedom in 186 countries, in part by analysing legal regulation.
The EU-SILC survey from 2013 shows that Luxembourgers are satisfied with their life in the Grand Duchy. The country therefore ranks in the top third of European countries, and well above the average of the 28 member states of the European Union. Especially the financial situation and use of time of the households speaks in favour of Luxembourg, but also the satisfaction with life in general, recreational areas and green spaces, and employment. In short, the study confirms that Luxembourg combines welfare and work.
As in 2014, the Grand Duchy ranks among the cleanest countries in the world in the 2015 edition of the Corruption Perceptions Index (CPI) drawn up by Transparency International, a non-governmental organisation fighting corruption. The country has even moved up two places.
On 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.