Within the framework of the international programme 'Global Entrepreneurship Monitoring', Luxembourg's national institute for statistics Statec, in partnership with the Ministry of the Economy and the Chamber of Commerce, has just presented the results of a study on entrepreneurship in Luxembourg. According to this study, the proportion of new entrepreneurs has reached 9.2% and thus remains above the European average of 8.6%.
On 13 October 2016, rating agency Fitch Ratings confirmed the 'AAA' rating for the Grand Duchy of Luxembourg with a 'stable' outlook. The favourable situation of Luxembourg's public finances is a key element justifying this rating.
Le Forum économique international (WEF) vient de publier sa nouvelle étude comparative de la compétitivité de 137 pays. Une moyenne de 5,23 sur 7 Dans sa nouvelle édition de l’étude comparative de la compétitivité, publiée fin septembre, le Forum économique mondial
In September, the Organisation for Economic Co-operation and Development (OECD) published the latest edition of "Education at a Glance". This report, which assesses the education and training systems in OECD countries on the basis of several indicators, places Luxembourg first for gender wage equality and in the leading group for the share of 25 to 34-year-olds with a tertiary degree.
If you're looking for a better quality of life, less pollution, more space, silence, tranquillity and a sense of security, you're best off heading to Western Europe. Those are the findings of a study by the company Zipjet, which has recently "examined the overall mental health" of 150 cities around the world on the basis of the main factors associated with stress, including urban aspects, pollution, finance and personal well-being.
The S&P rating reflects the favourable momentum of the Luxembourg economy, with growth estimated at 3.4% for the period from 2017 to 2020. This positive trend can be explained by a recovery in consumption as a result of the implementation of the tax reform in 2017, as well as sustained growth in financial services.
At the start of July 2017, the International Chamber of Commerce (ICC) published a new edition of its Open Markets Index (OMI) study. The study makes it possible to compare the openness to international trade of 75 countries worldwide. The OMI has four main areas of focus which are further divided into 23 indicators in order to cover all openness factors.
Since 2007, Cornell University, INSEAD and the World Intellectual Property Organization have published an annual Global Innovation Index. This composite index is a precious tool for comparing and evaluating the ongoing progress made by different countries in the area of innovation. In the 2017 edition, Luxembourg came 12th with a score of 56.40.
The Eurostat indicator for actual individual consumption (AIC) confirms that Luxembourg is way out in front in the European ranking. The level of actual individual consumption per capita in the small country at the centre of the European Union (EU) stands at 132% of the EU average.
The European Innovation Scoreboard is published each year in order to compare the level of innovation of the different countries in the European Union. In 2017, the Grand Duchy is considered a 'strong innovator', and ranks 8th, above the European average.
The world's most expensive places for expats to live are not always the ones you think. Although there is a tendency to say that London and New York are the most expensive cities in the world, it's not true. The cost of living in a developing country can in fact be higher.
The 2017 edition of the World Competitiveness Yearbook, produced by Switzerland's International Institute for Management Development, analyses the competitiveness of 63 countries, using 260 different criteria. The criteria are grouped in four categories: economic performance, effectiveness of public authorities, business environment, and infrastructures.
The Grand Duchy is the leading centre of private banking in the euro area and the second most important centre worldwide for investment funds. The Grand Duchy's financial sector attracts private and institutional investors because of its political, economic and social stability, its modern legal and regulatory environment, and its international outlook. According to the latest figures published by Luxembourg's central bank and the ALFI (Association of the Luxembourg Fund Industry), financial activity in the Grand Duchy is tending to increase.
This index reflects the state of globalisation in 187 countries throughout the world, based on 23 variables grouped into 3 sub-categories: economic globalisation (36% ponderation in the KOF index), social globalisation (37% ponderation), political globalisation (27% ponderation).
ECA International, an HR solution and information provider, has recently published its annual ranking of the most favorable cities for European expats. Luxembourg comes 9th among more than 470 cities analysed throughout the world.
Luxembourg takes 62nd place among the 133 cities analysed. The cost of living has remained stable compared with last year. It shares its ranking with a number of other cities, including Dubai, Montreal and Istanbul. The large cities in the countries neighbouring the Grand Duchy are considered to be more expensive: Paris and Geneva are in 7th place, Frankfurt in 23rd place, Brussels in 39th place, and Amsterdam in 55th place.
The London consultants Z/Yen have just published their latest report on the competitiveness of the world's financial centres. The global ranking lists 88 centres; the Grand Duchy has held its position as leader in the euro area for the past four years.
In its analysis, S&P emphasised the flourishing character of Luxembourg's economy, the efficiency of its institutions and public governance, as well as the prudent budget policy pursued by the Government. The agency is anticipating average GDP growth of 3.4% for the period 2017-2020. In particular, it expects a strengthening of household consumption following the implementation of the 2017 tax reform.
The European Commission annually publishes a report on the digital economy and society:lDigital Economy & Society Index (DESI). The DESI is a composite index measuring progress of EU countries towards a digital economy and society. It is composed of five principal policy areas: Connectivity; Human capital; Use of internet; Integration of digital technology; Digital public services.
In the Global Gender Gap report 2016 produced by the World Economic Forum, the Grand Duchy achieves an overall score of 0.734 points, on a scale from 0 (absence of parity) to 1 (full parity).
In a country, digital technologies create new markets and business opportunities. The major challenge consists of making sure that these opportunities are seized by industrial companies and services so that digitalisation can become a job-creating lever for growth in the country.
In 2016, nearly every household in Luxembourg had access to the Internet (97%). The few "off-line" households either don't have any use for the Internet or are connected elsewhere. They are mostly homes without children or teenagers. 95% of the users log-on on a daily basis for the greater part via their Smartphone.
According to the latest figures published in the Legatum Prosperity Index report, the Grand Duchy's health system is the best in the world. According to the ranking in the study, the Grand Duchy takes first place, ahead of Singapore and Switzerland.
According to the World Economic Forum's 2017 report, the Grand Duchy ranks second in the IDI (Inclusive Growth and Development Index), a new index developed to provide more, and fine-tuned information on countries' economic development level, compared with other models that are based solely on the ratio of GDP to inhabitant.
At the end of 2016 the World Economic Forum (WEF) published a new edition of its report on international trade - the Global Enabling Trade Report 2016. The report, published every two years since 2008, features a composite index - the Enabling Trade Index (ETI) - which assesses the extent to which the 136 economies analysed have in place the factors facilitating the free flow of goods over borders and to their destination.
In a globalised world, a country's human capital is a key factor in its competitiveness. Most countries around the world not only want to grow and attract talent, but also to retain it. This is the idea developed by the INSEAD business school in establishing its annual report on countries' talent competitiveness (GTCI*).
At the end of 2016, Forbes drew up a list of "the best countries for business". Of the 139 countries analysed, the Grand Duchy ranks among the top 20, in a splendid 14th place. The ranking is headed by Sweden, New Zealand, and Hong Kong, in that order. Sweden ranked among the top 10 countries in seven of the eleven categories measured.
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.
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.
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.
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.