General

Luxembourg – an economic powerhouse

Amazing city

It is easier than ever before to move to another country, to explore its culture, its lifestyle as well as its landscapes. Accept the challenge!

The world is interconnected and open to everyone. However, if you are looking for new challenges, these challenges should be fruitful for you – as a professional as well as an individual. Therefore, it is essential to start your new life in a place of economic and political success! Choose wisely every step of your upcoming exciting journey. Moving to a new country will be a life changing event.

Luxembourg, the tiny country landlocked by Germany, Belgium and France, might be the perfect fit for you. First of all: It is open and welcoming to foreigners. And although Luxembourg has already the highest GDP per capita in Europe and one of the highest in the world, its GDP has continued to grow by 3,9% in 2018. Hence, it is one of the fastest growing economies’ in Europe and the gap related to wealth between Luxembourg and other countries is only widening.

Ready for take off!

Positive economic development

Such a positive economic development has positive effects on the job market too. On the one hand, the unemployment rate is still one of the lowest in the European Union with about 5% of people being registered as unemployed. On the other hand, Luxembourg is having a very dynamic job market, which is offering a lot of new job opportunities for highly qualified specialists. These specialists are not only required in Engineering but also in IT, Science, such as Mathematics, Physics, Biology but also in the Medical Sector. 

Immigration to Luxembourg

Continuing success and its consequences!

Luxembourg is not perfect, in fact it is a victim of its continuing tremendous success. Luxembourg’s labor force is way too small to fill all the vacancies. In addition, the local population is growing slower than the economy as well as the job market. It is obvious that in the current times of full employment the country is lacking highly qualified personal. Up to now, Luxembourg was lucky enough to rely on cross border workers from Germany, France and Belgium to flow on a daily basis to Luxembourg. But the resources are becoming more and more limited and the country has to attract highly qualified people from all over the world.

Are you interested in Luxembourg?

Qualitative growth 

In this event, the Government is pushing hard to transform its economic growth to a purely qualitative one. New initiatives have been started, such as the Third Industrial Revolution (Rifkin Process), continued expansion of the space sector by creating a legal framework for space companies to realize space mining. Furthermore, Luxembourg will be one of the first countries in the world to install a 5G network to fully unleash the opportunities of the Third Industrial Revolution and the country will be hosting the greatest European Super Computer.

The competitiveness of a country in the modern world is increasingly reliant upon effective innovation networks. That is why Luxembourg has build up Clusters in the following sectors:

AutoMobility, BioHealth, Creative Industries, EcoInnovation, information and communication technologies (ICT), Wood Cluster, Materials & Manufacturing. For more information about the different clusters visit https://www.luxinnovation.lu/innovate-in-luxembourg/luxembourg-cluster-initiative/

Immigration to Luxembourg

 

Fit for the future!

As a result, Luxembourg is a highly developed country, figuring regularly in one of the top positions in international surveys. The country is open and through its numerous projects and clusters it is offering a lot of exciting opportunities to expats. Moreover, although already welcoming to foreigners, the country is adapting itself more and more to the international labor force by building for example international schools.

The success of Luxembourg is visible in the social benefits and in the safety of the country as well as in the political stability, all of which are important arguments for investors to settle in Luxembourg.

Don’t miss other articles of MSK Group : https://lux-visa.com/blog/

Kind regards,

Your MSK Group team.

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