IMD World Competitiveness Booklet 2023

Competitiveness Trends – Overall Luxembourg

OVERALL PERFORMANCE (64 countries)

BASIC FACTS

Rank

2019

2020

2021

2022

2023

Capital Land area (square km '000)

Luxembourg

3 2022

12

12

13

15

0,950 2022

Exchange rate (per $)

20

0,65 2022 63 82,3 2022 53

Population - market size (millions)

Gross Domestic Product (GDP) (US$ billions)

141.164 2022 01

CHALLENGES IN 2023

GDP (PPP) per capita (US$)

1,5 2022 61 8,15 2022 33 4,60 2022 28 0,53 2022 62 4,03 2022 17

• Strengthen the data-driven economy based on an appropriate regulatory framework that guarantees security and competitiveness. • Increase legislation working time flexibility to allow case by-case company management. • Ensure access to affordable energy and raw materials for companies and households. • Pursue sustainable spatial planning at the national and cross-border levels. • Reform the pension system to ensure its long-term sustainability.

Real GDP growth (%)

Consumer price inflation (%)

Unemployment rate (%)

Labor force (millions)

Current account balance (% of GDP)

1.013,9 2021 11 -267,84 2021 63

Direct investment stocks inward ($bn)

Direct investment flows inward (% of GDP)

PROVIDED BY: Luxembourg Chamber of Commerce

COMPETITIVENESS LANDSCAPE

Economic Performance Government Efficiency

Business Efficiency

Infrastructure

Domestic Economy

International Trade

International Investment Employment Prices

Public Finance Tax Policy

Institutional Framework Business Legislation

Societal Framework

Productivity & Efficiency Labor Market Finance

Management Practices Attitudes & Values

Basic Infrastructure

Technological Infrastructure Scientific Infrastructure

Health & Environment Education

6

7

11

12

12

14 12

14

14

17

22

22

28 26

30

32

41

43

55

57

PEER GROUPS RANKINGS EUROPE - MIDDLE EAST - AFRICA (41 countries)

POPULATIONS < 20 MILLION (37 countries)

2019

2020

2021

2022

2023

2019

2020

2021

2022

2023

10

8

11

11

9

9

12

10

15

14

92 Competitiveness Country Profiles