The Luxembourg Index of Well-Being goes beyond economic statistics and figures linked to the country's GDP, instead focusing on the factors that determine individual quality of life. The index has been drawn up in close cooperation with the country's Economic and Social Council and High Council for Sustainable Development.
The State Secretary for the Economy, Francine Closener, spoke about the new index at the opening of the latest Home Expo at Luxexpo The Box on 14 October: "In general, the country's well-being index reflects the trends in the country's GDP. It fell between 2010 and 2012, but since then it has been on the rise again. But it is increasing at a much slower rate than GDP. This index took much longer to get back to its initial 2009 level, whereas the GDP level is now much higher than 2009 figures. (...) It takes people a lot longer after a low point to start experiencing higher levels of well-being again."
A similar study conducted by the OECD
In its 2016 study, the Organisation for Economic Co-operation and Development (OECD) noted that, in general, Luxembourg scores highly in terms of material living conditions. The average wage and job security are the highest of the 35 OECD member countries. In 2016, just 3.3% of employees in Luxembourg worked longer hours than the OECD average. In terms of human relationships, 93.4% of Luxembourgers say that they have close friends and family on whom they can rely. The average stands at 88%. The homicide rate in Luxembourg remains the lowest of any OECD country.
A "child-friendly" country
In the same report, the child mortality rate and teenage suicide rate are well below average. The illiteracy rate for children under 15 is the third lowest of all member countries. Finally, just 4.8% of children live in jobless households.
The future Luxembourg Index of Well-Being will provide more detailed information about all these figures and many more.
(Article written by the editorial team of the luxembourg.lu portal/ Sources: Press release from the Ministry of the Economy/ Ministry of Housing/ OECD Better Life Index)