Dear Friends of Luxembourg,
Luxembourg plays an important role as a business hub in Europe thanks not only to its strategic geographic location but also to its political, fiscal and economic stability, its business-oriented regulations and its skilled and talented multicultural workforce.
The business attractiveness of the country is regularly supported by several global rankings.
Luxembourg has once again been identified as a leading European and global financial center according to the latest edition of the Global Financial Centers Index 28 that establishes a ranking between 111 major financial centers around the world. Number 1 in Europe and #12 in the world, the Grand Duchy is comforting its position year after year.
Moreover, the Global Innovation Index 2020 ranked Luxembourg as the 18th most innovative economy worldwide. Co-published by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO), the 2020 edition featured the annual innovation rankings of 131 countries, based on 80 indicators. Innovation is indeed a key component of the country’s economic strategy towards a knowledge-based, data driven and sustainable economy as all the concerned stakeholders and institutional as well as private actors strive to promote and foster it. One key element to achieve this goal is to attract global talents and innovative solutions from all over the world and Luxembourg recently hosted the global tech conference ICT SPRING during which several international startups have been selected to pitch, learn and engage with the Luxembourg startup ecosystem. The thousands of participants at this year edition of ICT Spring held virtually in September because of the world pandemic witnessed the continuous success year after year of this major event dedicated to new technologies and startups.
Recently, the country made the acquisition of the HPC supercomputer, which will bear the name MeluXina and will drive the Luxembourg’s economy one step further to being one of the most advanced EU data driven economy. Its many practical applications will provide benefits to a wide range of industrial and business sectors, as well as to users from academia, scientific communities and the public sector. Furthermore, the Grand Duchy has also been chosen as the seat of the managing entity of the new European network of supercomputers, putting the country at the center of an European network of supercomputers.
Luxembourg is extending its economic development beyond European borders with the support of the Trade and Investment Offices -LTIO- located in several countries to support national companies to expand their business in foreign markets. The latest addition to this international network is the LTIO Casablanca that will allow easier access to the North African region, while our Abu Dhabi office supports Luxembourg companies in the GCC region.
The LTIO team remains available if you wish to learn more about Luxembourg business environment and the business opportunities in the region.
Loïc Bertoli
Executive Director
LTIO Abu Dhabi