People are drawn to little Luxembourg for a variety of reasons, including the nation’s multicultural mix and low crime rate. Additionally, there is one of the greatest standards of life in the world as well as simplicity in interacting with the government.
With a land area of only 2,586 square meters and a population of about 560,000, the Grand Duchy of Luxembourg is one of the smallest countries in the world. It is bordered by Germany, France, and Belgium on all sides. It is a Parliamentary Democracy-based Constitutional Monarchy.
One of the safest places in the world to raise a family is Luxembourg (the 6th safest place according to the World Economic Forum).
The population is multicultural
Almost 47% of the population of Luxembourg is made up of immigrants from more than 170 different countries. They are primarily from the EU (86%). Additionally, more than 180,000 commuters from nearby nations travel to Luxembourg each day for work.
A unique multilingual place
You have Luxembourgish, German, and French as your three official languages. The inhabitants of Luxembourg are accustomed to hearing multiple languages being spoken simultaneously in the same location. English is widely spoken and is regarded as the business language. The workforce’s multilingualism is regarded as a major advantage in luring new enterprises to Luxembourg. The average Luxembourgian child can speak four languages by the time they graduate from school.
The transportation and communication systems in Luxembourg are first-rate. The best communications infrastructure in the world has contributed to the expansion of the banking and financial industries. In terms of international internet bandwidth, Luxembourg is placed first in the Network Readiness Index 2015 (NRI). One of the primary ways to carry goods to and from Luxembourg is via rail. Due to its convenient access to the rest of Europe via air, rail, and road, Luxembourg is becoming a more sought-after location for extended weekends away from home.
One of the centers of the European institutions
You have the European Investment Fund, the European Investment Bank, the European Stability Mechanism, the Consumers, Health, Agriculture, and Food Executive Agency, the European Parliament, the European Commission, the European Court of Justice, and the European Court of Auditors. In Luxembourg, there are about 11,000 persons employed by the institutions.
Business-friendly & strong economy
The country offers a distinctive route into Europe and direct access to a significant EU market. Its government is pro-business and reaching decision-makers is simple. According to the World Economic Forum, the Grand Duchy has one of the most competitive economies in the world. In important industries like automotive, health, information and communications technology, finance, production technologies, space, and logistics, the government promotes research and collaboration between the public and private sectors. Luxembourg has been able to handle the challenges of economic transition over the past few decades thanks to pro-business policies. Businesses have a wide range of options when using a free market strategy. Luxembourg is home to several important industrial companies, including ArcelorMittal, Goodyear, Guardian, Dupont, Ferrero, etc.
For a long time, the country’s economy was based on the manufacturing and financial sectors. However, it is now increasingly positioning itself as a technology hub and data center location (Companies like Skype, Amazon, and Paypal have their European Headquarters in Luxembourg). The government makes significant investments to maintain low taxes and a hospitable financial climate for investors. The country’s favorable political and economic climate, along with its advantageous location in the center of Europe, have all contributed to the expansion and diversification of Luxembourg’s service sector as a whole.
Since 1994, the Old City of Luxembourg and its historic neighborhoods have been recognized by UNESCO as cultural treasures. The Grand Duchy has several beautiful sceneries that make it a wonderful tourist destination. It is well known for its many old, medieval castles, beautiful valleys, and some of the world’s best wines.