According to the 2021 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 (15th), Belgium (24th) and France (29st). The 2021 world ranking is led by Switzerland, Sweden, Denmark, the Netherlands and Singapore.
Four pillars analysed
In this new edition, 64 countries are analysed using 334 criteria. These criteria are both quantitative and qualitative (opinion survey of company decision-makers). The report, which is published annually, analyses 4 sets of indicators:
- Economic performance: Luxembourg is ranked 10th in the world. Luxembourg has a strong performance in international trade (7th) and national economy (11th).
- Efficiency of public authorities: Luxembourg ranks 10th. It is ranked 6th in public finance, 6th for its business legislation and 7th for its societal framework.
- Business environment: Luxembourg ranks 13th. Luxembourg's performance is high in productivity (6th) and finance (10th).
- Infrastructure: Luxembourg ranks 25th and is therefore the country's least efficient pillar. However, the Grand Duchy scores very competitively in basic infrastructure (9th) and education (11th).