According to the 32st annual competitiveness report, the World Competitiveness Yearbook, the Grand Duchy is the 15th most competitive country in the world and far outstrips its direct competitors Germany (17th), Belgium (25th) and France (32st). The 2020 world ranking is led by Singapore, Denmark and Switzerland.
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 8th in the world. Luxembourg has a strong performance in international trade (6th) and international investment (10th).
- Efficiency of public authorities: Luxembourg ranks 12th. It is ranked 7th in public finance, 9th in its institutional framework and 9th for its business legislation.
- Business environment: Luxembourg ranks 17th. Luxembourg's performance is high in finance (13th) and productivity (15th).
- Infrastructure: Luxembourg ranks 25th and is therefore the country's least efficient pillar.