According to the 31st annual competitiveness report, the World Competitiveness Yearbook, the Grand Duchy is the 12th most competitive country in the world and far outstrips its direct competitors Germany (17th), Belgium (27th) and France (31st). The 2019 world ranking is led by Singapore, Hong Kong and the United States.
Within the European Union (EU), the ranking is led by the Netherlands, followed by Ireland and Denmark. Luxembourg ranks 5th in the EU.
Four pillars analysed
In this new edition, 63 countries are analysed using 235 criteria. These criteria are both quantitative and qualitative (opinion survey of company decision-makers). The report, which is published annually, analyses four sets of indicators:
- "Economic performance": Luxembourg is ranked 4th in the world. Luxembourg has a strong performance in international trade (5th) and international investment (2nd).
- "Efficiency of public authorities": Luxembourg ranks 10th. It is ranked 6th in public finance, 42nd in tax policy, 10th in its institutional framework, 13th in business legislation and 5th in the societal framework.
- "Business environment": Luxembourg ranks 12th. Luxembourg's performance is high in finance (5th) and productivity (11th).
- "Infrastructure": Luxembourg ranks 25th and is therefore the country's least efficient pillar.
(Article written by the editorial team of the www.luxembourg.lu portal)