With 47% of the population made up of foreign nationals, Luxembourg is the EU’s most international country. Its international orientation is frequently highlighted in various rankings. The 2021 Global Financial Centres Index, for instance, globally ranks Luxembourg 8th, and considers it the most international financial centre in the world. The country also scores 3 times the EU average for the number of foreign doctoral students in the 2021 European Innovation Scoreboard.
Competitiveness and innovation
According to the 2021 IMD World Competitiveness Ranking, Luxembourg is the 12th most competitive economy in the world – an increase of three places compared to the previous year, although it has been ranked even higher in the past. The 2020 Global Innovation Index considers Luxembourg as the 18th most innovative economy in the world, while the 2021 European Innovation Scoreboard classifies it as a “strong innovator”.
We are looking to diversify the economy and bring in companies that can add to the digital and sustainable development of the country.
“Innovation is definitely a priority in Luxembourg,” says Jenny Hällen Hedberg, Head of International Business Development at Luxinnovation. “We are looking to diversify the economy and bring in companies that can add to the digital and sustainable development of the country. This is a small, tightly knit country where company executives can get personalised and professional help to establish their business.”
Luxembourg’s outstanding IT infrastructure is also highlighted. According to the 2020 Digital Economy and Society Index (DESI), published by the European Commission, Luxembourg is well above the European average in the digital field and has the third best connectivity in the EU.