Benchmarks

Let words be words and bring in the numbers instead. Rankings, studies, statistical data – in this section you will get a solid overview of the latest facts and figures that define Luxembourg
Companies

Entrepreneurship remains attractive in Luxembourg

According to the international study 'Global Entrepreneurship Monitoring', the rate of entrepreneurs has reached 9.2% in the Grand Duchy.

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%.

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Cooperation and Humanitarian Action

Luxembourg recognised for its development aid

Following the peer review of Luxembourg carried out by the Development Assistance Committee (DAC) in Paris, the country was praised for its generous contribution to official development assistance.

Every five years, each DAC member is given a peer review designed to monitor the implementation of the country's commitments and make recommendations for improvement.

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Finance

Fitch confirms Luxembourg's AAA rating

The outlook is stable

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.

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Economy

Luxembourg ranks 19th worldwide in terms of competitiveness

The World Economic Forum (WEF) has just published its new comparative study of the competitiveness of 137 countries.

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

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Finance

DBRS confirms Luxembourg's 'AAA' rating with a stable outlook

On 22 September 2017, the credit rating agency DBRS confirmed the Grand Duchy of Luxembourg's 'AAA' rating with a stable outlook.

En date du 22 septembre 2017, l'agence de notation financière DBRS a confirmé la notation "AAA" du Grand-Duché du Luxembourg avec tendance stable.

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Education and training

OECD Education at a Glance 2017 – higher education under the microscope

Luxembourg excels in gender equality and percentage of graduates

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.

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Quality of life

Luxembourg makes people feel safe

In the ranking of least stressful cities, Luxembourg and Germany come out on top.

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.

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Finance

Standard & Poor's confirms Luxembourg's "AAA" rating with stable outlook

On 15 September 2017, the rating agency Standard & Poor's (S&P) once again confirmed Luxembourg's "AAA" credit rating and assigned the country a stable outlook.

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.

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Economy

Luxembourg ranks third in the ICC's Open Markets Index 2017.

The Grand Duchy beats over 72 countries in terms of overall openness

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.

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Research and innovation

Luxembourg – one of the world's most innovative countries

Luxembourg is ranked 12th in the tenth edition of the Global Innovation Index.

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.

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Economy

Luxembourg tops the European actual individual consumption (AIC) ranking

According to Eurostat figures, consumption levels in Luxembourg are 32% above the EU average

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.

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Research and innovation

The Grand Duchy of Luxembourg is a strong innovator

The European Commission has just published its annual report on innovation across the EU.

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.

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Economy

Cost of living - Switzerland leads the field in Europe

According to the Cost of Living study carried out by ECA International, the capital of Angola is the most expensive city to live in worldwide.

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.

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Economy

World Competitiveness Yearbook: Grand Duchy ranks 8th in the world

Having moved up from 11th to 8th position in the space of a year, the Grand Duchy is back in the top 10 of the world's most competitive countries.

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.

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Economy

The financial sector is booming

The Grand Duchy is consolidating its position as a top financial centre.

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.

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Economy

Luxembourg in 19th place on the 2017 globalisation index

The Swiss Federal Institute of Technology in Zurich (ETH) just published its 2017 edition of the composite globalisation index 'KOF'.

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).

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Quality of life

What are the most favorable towns for European expats?

ECA International has recently issued its annual "Global Liveability ranking". Luxembourg-City is listed among the Top 10 cities.

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.

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Quality of life

Luxembourg - nowhere near the most expensive city in the world

The EIU has just published its cost of living survey of more than 130 cities worldwide. Luxembourg City is far from being among the most expensive.

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.

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Finance

The Grand Duchy - a financial marketplace of choice

The 21st edition of the Global Financial Centres Index has just been published. The Grand Duchy ranks 18th worldwide, and 1st in the euro area.

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.

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Economy

Luxembourg's 'AAA' confirmed by DBRS

The Canadian rating agency is the number 4 among the big agencies

One week after S&P, the Canadian rating agency DBRS confirms the AAA rating of Luxembourg, the trend remaining stable.

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Economy

S&P confirms Grand Duchy's 'AAA' rating

On 17 March 2017, the rating agency Standard & Poor's (S&P) confirmed the 'AAA' rating of the Grand Duchy of Luxembourg, with a stable outlook.

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.

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Finance

Economy: the Grand Duchy is doing well

The investment fund sector remains the largest in Europe and the second largest in the world, after the USA.

In the field of the economy, finance and employment, the Grand Duchy is in a position well above the average for the countries of the European Union.

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e-Commerce

Digital Economy & Society Index 2017: Luxembourg among the best

The Grand Duchy, competitive in e-commerce

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.

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Economy

Grand Duchy's triple-A rating confirmed

On 3 March 2017 Moody's confirmed the Grand Duchy's triple-A rating

The Grand Duchy remains one of the very few countries awarded the top credit rating by the three main agencies - S&P, Fitch and Moody's - and the DBRS.

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Equal opportunities

Education - no gender gap in the Grand Duchy

The country's equal opportunities policy is paying off - in 2016, the Grand Duchy improved its score in the Global Gender Gap report.

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).

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Digital economy

Grand Duchy one of the ten top digital economies

At the end of January 2017, the European Commission published a new European study on digital transformation. The Grand Duchy occupies an honourable 6th place.

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.

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ICT

Luxembourg: a connected society

Only 3% of Luxembourg's households don't have access to the Internet

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.

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Health

The Grand Duchy is in good health

The Grand Duchy's health system is considered the best in the world.

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.

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Economy

Grand Duchy is world's second best economy for reducing inequalities

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.

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Trade

Grand Duchy takes 4th place in Enabling Trade Index

The World Economic Forum has certified that the Grand Duchy has excellent infrastructures.

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.

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Economy

The Grand Duchy ranks 7th in the Global Talent Competitiveness Index

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*).

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Economy

Which countries are the best for business?

The American financial magazine Forbes has published the eleventh edition of its study of the most attractive countries in the world for capital investment - the Grand Duchy ranks 14th out of 139 countries.

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.

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Economy

The Grand Duchy comes second in the list for EU countries with the best economic health

According to the 'Euro Plus Monitor 2016', the Grand Duchy stands in second place in the list of European Union countries in terms of overall health of the economy.

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.

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Quality of life

Grand Duchy one of the top three countries with the highest purchasing power

30,248 euros - that's the figure for average purchasing power per inhabitant in the Grand Duchy in 2016, according to the 'Purchasing Power Europe 2016' study published by the company GfK.

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.

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Economy

IMD World Talent Report 2016: Luxembourg in the Top 10

The Swiss institute IMD has published its third annual report entitled 'World Talent Report', which analyses talent — and thus also competitiveness — in over 60 countries worldwide.

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.

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Digital economy

No difficulties accessing ICT in the Grand Duchy

The Grand Duchy takes 11th place in the general ranking in the 2016 ITU report.

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.

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Finance

Luxembourg ranks a global 12th in the Global Financial Centres Index

In all, 87 financial centres were evaluated for the 20th edition.

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.

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  • Updated 30-10-2017