About Luxembourg


Name: Luxembourg (long form: Grand Duchy of Luxembourg)
Capital City: Luxembourg (88,586 pop.)
Luxembourg Population: 514,862 (2013 est.)
Currency: Euro
Ethnicity: Luxembourger 63.1%, Portuguese 13.3%, French 4.5%, Italian 4.3%, German 2.3%, other EU 7.3%, other 5.2%
GDP total: $56.74 billion (2012 est.)
GDP per capita: $107,206 (2012 est.)
Language: Luxembourgish (national language), German (administrative language), French (administrative language)
Largest Cities: (by population) Luxembourg, Esch-sur-Alzette, Dudelange, 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 (includes Protestant, Jewish, and Muslim) 13%

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, Luxemburg’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 neighboring countries, based on a truly sustainable model.

Luxemburg’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 outpout. 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 member of the European Union, NATO, OECD, United Nations, Benelux 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 the seat of several institutions and agencies of the EU.

Luxembourgian 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.luxembourgforbusiness.lu/en http://www.luxembourgforfinance.lu/