Despite its small size, Luxembourg is a genuinely multicultural nation with more than 46% of its people coming from outside the country. More foreigners reside in Luxembourg than any other nation in Europe. About 100,000 of Luxembourg’s 571,000 residents reside in Luxembourg City. Another perplexing fact is that there are three official languages in the nation: Ltzebuergesch, French, and German (Luxembourgish).
High quality of living
According to international rankings and surveys, Luxembourg is one of the top 20 nations in the world for living standards. This is because of the country’s safety, political stability, and cozy small-town charm in addition to its beautiful natural surroundings. The total affluence of Luxembourg and the level of happiness of its citizens with their quality of life are said to be related to the country’s high level of safety and security as well as its low rate of crime.
Attractive employment market
Working in the country has long been a desirable option for expats seeking to capitalize on the country’s low unemployment rate, low inflation, and strong economic growth, particularly for those with a university degree, a trade qualification, specialized skills, and/or extensive work experience. The robust, high-tech service sector, higher wages than the rest of Europe, and the recently implemented 5-year tax exemption for expats working in Luxembourg are the main benefits for expats. The biggest steel manufacturer in the world, ArcelorMittal, is based in Luxembourg. Technology and the financial services industries have grown and risen to the top. The Luxembourg financial sector employs a sizable number of people from both domestic and foreign countries and has roughly 150 banks.
Fertile business environment
In terms of GDP per capita, Luxembourg is the second-richest nation in the world, behind Qatar. Although the manufacturing and banking sectors of its diversified economy have long been strong, it is increasingly pitching itself as a technological hub and data center location. For instance, the European headquarters of Skype and Amazon are located in the country. This may also be related to Luxembourg’s relatively low tax rates, which make it a tax shelter for the wealthiest people in Europe. Investing in the country is made even more appealing by the nation’s superior telecommunications infrastructure, economic stability, and accessibility to major European financial centers. Not to mention, Luxembourg offers tax benefits to attract foreign investors.
Multilingualism Is the norm
In Luxembourg, it’s vital to speak multiple languages. Its roots are in the Romanic and Germanic ethnic groups that coexisted and had a significant impact on the nation’s growth. The two most widely used spoken languages in the fourteenth century were Walloon and Ltzebuergesch. However, at the time, the two main administrative languages were German and French. French occupation had a marginally bigger impact than German occupation in the years that followed, but both solidified that bilingual heritage. Since 1843, it has been legal for residents of Luxembourg to speak any of the three official languages: French, German, or Ltzebuergesch.
Efficient healthcare system
The public health system in Luxembourg is mandated and provides 98% of the population with universal coverage. You are free to pick any hospital or physician of your choice if you have access to public health insurance. There is a private health sector, but it is mainly supplemental and usually just fills in the reimbursement gap for medical expenses. About 60% of Luxembourg residents choose this extra complimentary mutual insurance. No matter their wealth or social background, all patients are guaranteed equal treatment under the public system.
Good education model
The bachelor’s degree awarded by Luxembourg’s educational system, which is modeled after the French educational system, is internationally recognized. Students have the option of enrolling in the University of Luxembourg or attending a university in a neighboring European nation when they graduate. The university, which was established in 2003, collaborates with universities and research institutions all around the world and provides a broad range of courses. There are numerous foreign schools available for the numerous expat families residing in Luxembourg. Their courses are created expressly to accommodate and meet the demands of children from abroad. Many expat parents choose to send their children to an international school for a variety of reasons, including the multilingual faculty and the foreign curricula.