Luxembourg is internationally renowned for its strong financial and economic performance, its sustained job creation and its social and political stability. Recent figures confirm that this is indeed true.

Strong growth in 2021

Although considerably hit by the COVID-19 pandemic in 2020, the Luxembourg economy came out relatively unscathed with a decrease in GDP of only 1.3% – far below the initial estimates, and significantly less than most other EU countries. In 2021, the wind turned radically. The first estimates by national statistics office STATEC indicate a growth of no less than 6.9% during 2021.

The population grew as well by 1.7%. This is slightly less than before the pandemic, when annual levels varied between 2% and 2.5%, but more than in 2020 (1.4%). The country is now home to 645,000 inhabitants. 47% of the population is made up of foreign nationals.

Less unemployment, more jobs

Unemployment has been steadily decreasing since June 2020, when it peaked at 7%. In March 2022, the unemployment rate was 4.7%. A level that Luxembourg had not experienced since late 2008 and early 2009.

Compared to March 2021, the number of job seekers decreased by 22% and the number of people receiving unemployment benefits decreased by 23.4%. During the same period, the number of job offers increased by 49.1%.

Growing workforce

The number of people working in Luxembourg grew as well. In March 2022, the country counted for the first time more than 500,000 people working on its territory. 58% of them are Luxembourg residents, while the remaining 42% – over 210,000 workers – commute from neighbouring countries.

Read more

Webasto invests in new production line in Luxembourg


Automotive supplier Webasto has been present in Luxembourg since summer 2022 and is turning the facility here into its global centre of competence for smart glazing. The company is now investing in a new Luxembourg-based production line for high-tech glass. The ground-breaking ceremony was held on 24 May 2023.
Read more

House of Sustainability opens in Luxembourg


The House of Sustainability, which officially launched on 21 April 2023 as a one-stop shop for all sustainable development solutions in Luxembourg, offers and guides companies toward an all-inclusive service offering available in Luxembourg to support their sustainable transition. Companies of all sizes and from all sectors can benefit from a vast ecosystem of sustainable solution providers based in Luxembourg.
Read more

Two Luxembourg start-ups supported by WomenTechEU


In the framework of the WomenTechEU programme dedicated to innovative deep-tech projects led by women, two Luxembourg companies, supported by Luxinnovation, have received European financial aid.
Read more

Luxembourg: Exceptionally open to business


In April 2023, Adrian Trömel, Luxembourg’s Foreign Trade Advisor in Texas, co-organised a visit to Luxembourg for a group of Houston-based venture capital, private equity and real estate firms to explore how the Grand Duchy could help them reach the European market. The similar economic interests, including Luxembourg’s openness to business, services and resources for funds and companies looking to grow left a lasting impression on the delegation.
Read more

Innovative companies in Luxembourg are supported by “a strong network”


Maxime Delmée, Belgian CEO and co-founder of AM 4 AM, a startup specialised in the development of new materials for additive manufacturing and a graduate of the Fit 4 Start acceleration programme in Luxembourg, discusses his entrepreneurial experience in Luxembourg. He explains that Luxembourg’s openness to innovation and its support for startups was crucial to his company’s development.
Read more

Resources all news