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Economy

Competitiveness

Luxembourg has placed fifth worldwide in the 2008 IMD World Competitiveness Scoreboard. The United States tops the list, followed by Singapore, Hong Kong and Switzerland. Luxembourg is the highest-ranked member of the European Union.

The IMD World Competitiveness Yearbook is the world’s most renowned and comprehensive annual report on the competitiveness of nations, ranking and analyzing how a nation’s environment creates and sustains the competitiveness of enterprises. 

Economic freedom

Luxembourg ranks eight out of 41 countries in Europe in the 2008 index of Trade Freedom Ranking. According to the Heritage Foundation, "Luxembourg has high levels of investment freedom, trade freedom, financial freedom, property rights, and business freedom".

Smart economy

In the Smart City Ranking, published in 2007 by the Technical University of Vienna (Austria) in cooperation with the University of Ljubljana (Slovenia) and the Technical University of Delft (The Netherlands) Luxembourg-city tops the overall rankings. It is followed by Aarhus (Denmark) and Turku (Finland). Six characteristics were analyzed: economy, environment, governance, people, mobility and living. Luxembourg ranks first in the category "smart economy" and is second in the rankings for "smart people".

Regional GDP per inhabitant

Luxembourg is among the leaders in the ranking of regional GDP (Gross Domestic Product) per inhabitant, expressed in terms of purchasing power standards, according to a study by the European statistical office Eurostat published in 2008. Luxembourg, with 264%, is at the second place, after Inner London in the United Kingdom (303% of the average).

Workforce

According to a report issued by the Conference Board in 2010, Luxembourg workers are the most productive in the world. The average hour of work in Luxembourg generates 83,3$ .