At the end of 2016, Forbes drew up a list of "the best countries for business". Of the 139 countries analysed, the Grand Duchy ranks among the top 20, in a splendid 14th place. The ranking is headed by Sweden, New Zealand, and Hong Kong, in that order. Sweden ranked among the top 10 countries in seven of the eleven categories measured.
In comparison, the Grand Duchy's neighbours are mostly further down the list (Belgium in 17th place, German in 21st place, and France in 26th place), except for the Netherlands, which ranks 7th in the list.
In establishing the ranking, the study looks at a number of different factors: property rights, innovation, taxes, technology, corruption, freedom, red tape, investor protection, and stock market performance.
For most of these criteria, the Grand Duchy is well-placed: 1st place worldwide for personal freedom, 2nd place for technology, 3rd place for property rights, and 7th place for trade freedom.
Forbes sums up the Grand Duchy in the following terms: A "small, stable [...] economy [which] has historically featured solid growth, low inflation, and low unemployment, [...] below the EU average. The financial sector, which accounts for about 36% of GDP, is the leading sector in the economy. The country continues to enjoy an extraordinarily high standard of living - GDP per capita ranks among the highest in the world".
(article written by the editorial team of the portal luxembourg.lu)