THE GRAND DUCHY OF LUXEMBOURG IN ONE PAGE!
One of the world`s best kept secrets (like the local Diekirch and Bofferding Beers)!
- Population: 590,667 (1 Jan 2017): up from 576,247 on 1 Jan 2016. Planned to reach 1 million by 2060. Average age 39.3, (EU average 42.4).
- Foreigners: 47.7% of population, of whom most are Portuguese (16.4%) and French (7.5%), followed by Italian (3.6%) and Belgian (3.4%) – also 4.4% ex-EU
- Surface Area: 2.586 km2 (approx. size of Derbyshire UK, Rhode Island USA)
- Budget/Debt (2016): €13 billion. Debt 24% GNI. Deficit 2015 0.6% GNI. Triple A. €13 billion. Debt 24% GNI.
- GDP: Luxembourg recorded a Government Budget surplus equal to 1.60% of the country's Gross Domestic Product in 2016. Government Budget in Luxembourg averaged 1.89% of GDP from 1995 until 2016.
- GNI 2016: + 4.2%. 2017 est. + 5.0%
- GNI per capita/PIB: 45% above EU average (residents only); PIB 2011: +1.7%
- Competitivity: 20th WEF rankings 2017, an increasing problem for future
- Inflation: 1.9% p.a. (August 2017), (EU1.6%, EZ 1.3%)
- Property: 73% residents property owners.
- Minimum salary €1,998.59 per month for unqualified adult workers; €2,398.30 per month for qualified employees (index 794.54; January 2017) – both for 18+ (highest in EU). 40 hours /week.
- Non-resident workers: 180,223 (45% of total workforce of 399,968; Mar 2017) made up of 44,001 (BE), 43,701 (DE), 92,521 (FR) – see graph
- Unemployment rate: 6.1% (June 2017); (EU average 7.7%, EZ average 9.1%) – see graph
- Constitutional Monarchy since 1815
- Grand Duke Henri and Grand Duchess Marie Thèrese since 2000.
- Prime Minister Xavier Bettel since December 2013.
- Coalition Government of Liberal, Socialist and Green parties. Next national elections in October 2018.
- Single Chamber Parliament elected for 5 years in 2013. 60 MPs
- Founder Member of European Union 1957. Capital city: LUXEMBOURG (Pop.110.000)
Economy and Taxes
- Luxembourg is hub of La Grande Region of 11.2 million people (Saar, Lorraine, Rhein-Palatinat, Wallonie ). Multimodal logistics freight hub for air, rail, fluvial, trucks.
- 25% of GNI is Financial Services – banking, fund management, insurance, etc.
- Banking secrecy: for residents only. Automatic information exchange within EU for non-residents´ bank data. 142 Banks.
- EU is largest employer after the State – circa 15,000, provides solid economic base. The Luxembourg state is the largest employer with 26,720 staff on its books at 1 January 2017. The Ville de Luxembourg has 3,996 staff employed.
- Largest private sector & semi-state employers: 1. Group Post Luxembourg (4,350); 2. Groupe CFL (4,170) - railways; 3. Groupe ArcelorMittal (4,160) - industry; 4. Groupe Cactus (4,030) - retail; 5. BGL BNP Paribas (3,700) - finance; 6. Groupe Dussmann Luxembourg (3,650) - cleaning services; 7. Goodyear Dunlop Tires Operations SA (3,410) - industry; 8. Groupe PricewaterhouseCoopers (2,840) - tax, audit, consulting; 9. Luxair SA (2,630) - air travel; 10. Fondation Hôpitaux Robert Schuman (2,210) - medical care.
- Economic sectors: Media (RTL, SES Astra, film production), steel (Arcelor Mittal), tyres (Goodyear), consulting (PWC, KPMG, EY, Deloitte); others: Cargolux, Amazon, Skype, Du Pont Nemours, Guardian glass…
- Standard VAT 17% (lowest in EU), cheaper petrol, alcohol, cigarettes, no TV licence, no wealth tax, no inheritance tax (direct heirs), average income, corporation taxes.
- Official languages: Luxembourgish, French and German.
- Schools: EU (European Baccalaureate), British (St George’s - offer GCSE / A-levels), International (ISL - International Baccalaureate), French, in addition to good national schools, some of which now also offer GCSE / A-level curriculum (Lycée Lucius) and the International Baccalaureate (Athenée).
- Multinational and easy lifestyle of high standard for majority. Low crime rate.
- Excellent but expensive housing, restaurants, wines, vibrant nightlife, walking, cycling
- Transportation: 2 hours from Paris (TGV), Brussels, Strasbourg, Koln. Important Ryanair hubs at Hahn (D) and Charleroi (B).
- Luxembourg Old City Fortress, a UNESCO World Heritage Site since 1994.
- World class Philhamonie concert hall, theatres, cinemas, good healthcare. Pompidou Centre and opera in Metz (F).