About Luxembourg


Name: Luxembourg (long form: Grand Duchy of Luxembourg)
Capital City: Luxembourg (110.499 pop.)
Luxembourg Population: 590,667 residents (as of 1 January 2017)
Currency: Euro
Ethnicity:Luxembourger 53.3%, Portuguese 16.2%, French 7.2%, Italian 3.5%, Belgian 3.5%, German 2.2%, other EU 7.3%, other 5.2%
GDP total: $59.95 billion (2016 est.)
GDP per capita: $102 019 (2016 est.)
Language: Luxembourgish (national language), German (administrative language), French (administrative language)
Largest Cities: (by population) Luxembourg, Esch-sur-Alzette, Dudelange, Differdange, Schifflange, Bettembourg, Pétange, Ettelbruck, Diekirch, Strassen
Name: The prefix luxem- is derived from the Celtic word Lucilem, meaning “small,” while the suffix -bourg is from the Germanic burg, meaning “castle.” Together, lucilemburg means “little castle.”
National Day: June 23
Religion:Roman Catholic 87%, other 13% (includes Protestant, Jewish, and Muslim)


Background

Luxembourg, officially the Grand Duchy of Luxembourg is a landlocked country in Europe, bordered by Belgium, France and Germany. It has two principal regions: the Oesling in the north as part of the Ardennes massif and the Gutland (“good country”) in the south. A representative democracy with a constitutional monarch, it is ruled by a Grand Duke, it is now the world’s only remaining sovereign Grand Duchy.Reflecting its geographic position, Luxembourg’s culture is a fusion of Romance and Germanic Europe, borrowing customs from each of the distinct traditions. Luxemburg is a trilingual country: Luxemburgish, French and German are official languages.


Economy

Luxembourg is one of the smallest member states within the European Union but the dimensions of its economy are by far exceeding the size of its national territory. The country has a highly developed economy, with the world’s highest GDP (nominal) per capita according to the IMF. With an average GDP growth of 5% over the last 20 years, the Luxembourgian economy is characterized by higher economic performance compared to its neighbouring countries, based on a truly sustainable model.

Luxembourg’s stable and high-income market economy features moderate growth, low inflation, and a high level of innovation. The industrial sector, which was dominated by steel until the 1960s, has since diversified to include chemicals, rubber and other products. During the past decades, growth in the financial sector has more than compensated for the decline in steel production. Services, especially banking and finance, account for the majority of economic output. Luxembourg is the world’s second largest investment fund centre (after the USA), the most important banking centre in the Eurozone and Europe’s leading centre for reinsurance companies. Moreover, the Luxembourg
government has aimed to attract internet start-ups, with Skype and Amazon being two of the many internet companies that have shifted their regional headquarters to Luxembourg.


Luxembourg Today

Luxembourg is a founding member of the European Union, NATO, OECD, United Nations, Benelux, World Trade Organization and the Western European Union, reflecting the political consensus in favour of economic, political, and military integration.

The city of Luxembourg, the largest and capital city, is home to:

  • the Secretariat of the European Parliament;
  • a Directorate- General and services of the European Commission, in particular the statistical office Eurostat and a large part of the translation service;
  • the Court of Justice of the European Union, the General Court and the Civil Service Tribunal, with an Appeal Court for the European Unitary Patent due to take up residence in the near future;
  • The European Court of Auditors
  • the European Investment Bank and the European Investment Fund;
  • the Consumers, Health, Agriculture and Food Executive Agency;
  • the Publications Office of the European Union, official publisher of the publications of the institutions of the EU and in particular of the Official Journal of the European Union, which contains legislation in the form of regulations, directives and decisions.

Luxembourgish companies in the UAE are among others involved in clean energy and alternative fuels as well as power efficient construction.


More information about Luxembourg:

http://www.luxembourg.public.lu/en/le-grand-duche-se-presente/luxembourg-tour-horizon/index.html

http://www.inspiringluxembourg.public.lu

https://www.luxinnovation.lu/

http://www.luxembourgforfinance.lu/

More information about Luxembourg in the UAE:

http://abudhabi.mae.lu/en

https://www.investinluxembourg.ae/