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2022 IMD World Competitiveness RankingDenmark comes out on top in the 34th edition of the IMD World Competitiveness Ranking, followed by Switzerland and Singapore. Luxembourg is in 13th position, losing one place compared to 2021 when it ranked 12th.

Strong economic performance

In terms of economic performance, Luxembourg ranks as the most competitive country in the world. This is a considerable improvement from 2021, when it ranked 10th. The country ranks 13th for government efficiency, 20th for business efficiency and 24th for its infrastructure.

2022 challenges

The World Competitiveness Ranking is based on statistical analyses as well as on an opinion survey answered by 5,500 executives in the 63 countries covered. The opinion survey indicates that the three most important trends impacting business in 2022 are inflationary pressures, geopolitical conflicts and supply-chain bottlenecks.

Mitigating the effects of the rising inflation on business profitability and household purchasing power is also one of the challenges that Luxembourg needs to rise to in 2022 according to the Luxembourg Chamber of Commerce, which cooperates with IMD in the realisation of the study. Other Luxembourg challenges listed by the Chamber of Commerce include accelerating the green transition towards a sustainable and decarbonised economy, moving from an extensive economy to an economy characterised by more qualitative growth, addressing difficulties faced by companies to find and retain talent and significantly increasing the housing supply to meet the high demand.

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Luxembourg’s population is one of the youngest in the entire EU

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According to the EU’s statistics agency Eurostat, the average age is under 40 surpassed only by Cyprus and Ireland.
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EU innovation performance continues to improve

26-09-2023

In the 2023 edition of the EU’s Innovation Scoreboard, Luxembourg maintains its position as a strong innovator performing above the EU average with a score of 117.2% and with a 1% improvement compared to 2022. The country is placed in the category of strong innovators.
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Luxembourg among the world's top 20 most liveable cities

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In the 2023 edition of the Global Liveability Index of the most liveable cities, Luxembourg came out 19th worldwide and 8th within the European cities cited.
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Inflation in Luxembourg continues to rank among the EU’s lowest

22-08-2023

Luxembourg recorded the second lowest annual inflation rate in the EU, according to the latest July figures shared by the statistical office of the European Union, Eurostat.
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CO2 emissions drop by -12% in Luxembourg: second best record in the EU

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Eurostat’s latest estimates indicate that in 2022, the EU collectively achieved a 2.8% decrease in CO2 emissions from fossil fuel combustion compared to the previous year. Luxembourg recorded the second biggest reduction in CO2 emissions among EU countries.
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