Luxembourg leads the ranking of the most competitive economy in the European Union

Luxembourg is ranked as the most competitive country in the EU, according to the latest IMD (International Institute for Management Development) annual world competitiveness ranking, which rates the ease of conducting business in various countries worldwide.

Moving up 5 places, from 11th to 6th worldwide, the ranking demonstrates Luxembourg’s strong track-record in cross-border business and ability to compete at a global level.

Business Efficiency

In addition, Luxembourg experienced one of the largest gains in business efficiency, moving from 14th to 4th, which greatly contributed to its ascendency in the ranking. This factor focuses on the extent to which the national environment encourages enterprises to perform in an innovative, profitable and responsible manner.

During the last years, Luxembourg has become the investment hub for many start-ups and innovative companies that wish to access the different national markets in Europe. Activities range from FinTech to R&D, Eco-Innovation technologies, Health Care and Biotechnologies, as well as Automotive and Space technologies.

The top-ranking Swiss business school judged 61 countries based on a combination of their economic performance, government efficiency, infrastructure and business efficiency.