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.

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EU innovation performance continues to improve


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


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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ESRIC Start-up Support Programme welcomes the five new ventures


Launched in 2021, the Luxembourg-based Start-up Support Programme is the first worldwide incubation programme, entirely dedicated to the field of space resources utilisation.
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“Luxembourg exceeds my expectations”


Korean start-up Posture AI addresses a common health problem: backpain. After developing its artificial intelligence solution using smart posture devices from its base in South Korea, the company has now chosen Luxembourg as its base for targeting the European market and moving forward with the data dimension of its products and services.
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New law introduced in Luxembourg to facilitate the hiring of skilled labour


The new law simplifies the hiring of non-EU nationals and grants family members of third-country nationals holding a residence permit access to the labour market as soon as they arrive in Luxembourg.
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