Globally, Luxembourg ranks on place 18, out of 141 countries, climbing up one place compared to 2018. Within Europe, Luxembourg ranks 8th.
Luxembourg’s strengths and weaknesses
The strongest point is it’s macroeconomic stability (1st place), followed by its institutions (rank 9), the financial system (rank 10), and the markets for products (rank 11) and labour (rank 12).
According to the report a weakness of Luxembourg is it’s small market size (rank 77) and the business dynamism (rank 42).
About the Global Competitiveness Report
The 2019 edition of Global Competitiveness Report evaluates 141 countries. The report is made up of 103 indicators. These indicators are split up into twelve pillars with the most important including: institutions; infrastructure; ICT adoption; macroeconomic stability; health; skills; product market; labour market; financial system; market size; business dynamism; and innovation capability. The score ranks between 1 and 100, higher average score means higher degree of competitiveness.
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*Source: The Global Competitiveness Report 2019 (World Economic Forum)
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