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DBRS views the ongoing diversification of Luxembourg’s small economy as favourable. Luxembourg remains both highly resilient
and attractive as an investment destination, supported by its highly skilled workforce, competitive tax and legal frameworks
and political stability. Although the country has a relatively limited degree of economic diversification, with the financial sector
accounting for 24% of gross value added (GVA), policy efforts to diversify the economy away from the financial sector to other high
value-added industries continue to advance.

Five key priority business sectors

The government began its policy of economic diversification in 2004, identifying five key priority sectors:

Investment in these areas helped Luxembourg develop a strong technological infrastructure. The country is the European leader in digital skills. In the satellite industry, Luxembourg is among the top ten countries in the world with an active space presence.

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ESRIC Start-up Support Programme welcomes the five new ventures

19-09-2023

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”

12-09-2023

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

05-09-2023

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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"Supporting the development of the start-up ecosystem in Luxembourg"

24-08-2023

Minister of the Economy, Franz Fayot, discusses the recent startup roadmap “From Seed to Scale” designed to support the ecosystem's continuous expansion as it navigates a new phase of maturity.
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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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