On 18 May 2018, the European Commission published its annual Digital Economy & Society Index (DESI) report, the European index which measures the performance of the digital economy and society in the countries of the European Union. Luxembourg confirms its position of 5th place.
In March 2018, ECA International, a solution and information provider for international human resources professionals, released a new edition of its report on liveable cities for European expats across the globe: the 2018 Global liveability ranking. This year, Copenhagen, Bern and The Hague made it to the top of the global ranking. Luxembourg City is in 9th position worldwide.
In 2016, Eurostat recorded a GDP per capita, expressed in purchasing power standards, of €75,100 for Luxembourg. This represents 257% of the average of all regions in the 28 European Union Member States, which stands at €29,200. It places Luxembourg second in the ranking of EU regions, beaten only by Inner London – West, whose GDP per capita was 580% of the EU average.
According to a study by KPMG, Luxembourg is ranked in third place in terms of growth potential. The overall classification of the Growth Promise Indicators (GPI) is headed by the Netherlands, followed by Switzerland in second place and Norway in fifth place. The only non-European countries among the first ten on the list are Hong Kong, ranked fourth, and Singapore in seventh place.
The international business school INSEAD recently published the latest edition of its Global Talent Competitiveness Index (GTCI) produced in partnership with the Adecco Group and Tata Communications.
According to a study by the World Economic Forum (WEF), the Grand Duchy is one of the industrialised countries that offer the best living conditions. In the annual Inclusive Development Index for 2018, the Grand Duchy has moved into third place, out of the total of 103 countries included in the study. Among the countries with an advanced economy, the Grand Duchy is only beaten by Norway and Iceland; it is ahead of the G7 countries (Germany (12th place), Canada (17th place), France (18th place), Great Britain (21st place), USA (23rd place), Japan (24th place) and Italy (27th place).
In the latest edition of the "Paying Taxes" study, Luxembourg is ranked 21st out of 190, with a score of 87.37. The aim of the report is to gauge the complexity of the national tax systems for companies.
The 'Quality of work Index Luxembourg' (Qow) is a survey, carried out annually since 2013, that makes it possible to collect data on working conditions and the quality of employment in the Grand Duchy.
Since the advent of 4G networks, web surfing speeds are much higher than with 3G. The best benchmarks in terms of these networks are South Korea and Singapore, one for its coverage, the other for its speeds.
"The structure of a country’s tax code is an important determinant of its economic performance." This is the opening sentence of the International Tax Competitiveness Index (ITCI) for 2017 produced by the American Tax Foundation group, which looks at the tax systems of the countries that are members of the Organisation for Economic Cooperation and Development (OECD).
Le Luxembourg se classe en 4e position dans l’Union européenne dans le tableau de bord compétitivité 2017, élaboré par l’Observatoire de la compétitivité (ODC). Le nouveau tableau de bord, mesurant la compétitivité du pays en comparaison avec les 27 autres États
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 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 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 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.