Luxembourg Ranked 9th in the IMD World Talent Ranking 2016

Written by: Bridgewest

Workforce is one of the most important factors in the success of a company and Luxembourg is no exception when it comes to successful businesses. Considering one of its best investment industries is financial services, no wonder Luxembourg ranked among the 10 best countries in the world at retaining talent in 2016. Our lawyers in Luxembourg can offer full information on the Employment Law in the Grand Duchy.

What are the sectors Luxembourg ranked best in?

The IMD World Talent Ranking 2016 report was released in December last year and it is one of the most prestigious international surveys, considering many foreign investors rely on it when choosing to open companies and considering the workforce an important factor for their success. The good news is that Luxembourg is one of the best countries in the world when it comes to retaining talented employees in 2016. The Grand Duchy ranked 9th in the survey last year.

According to the study, Luxembourg ranked 3rd when it comes to appeal: highly-skilled workers consider the country one of the most attractive countries to work in. The Grand Duchy ranked first when it comes to primary education and 5th in terms of international experience and language skills, according to the report. In 2016, Luxembourg companies registered a significant number of female employees which was commended in the report.

Why do foreign workers and companies come to Luxembourg?

Talented individuals and foreign companies have a tight link in Luxembourg because this country is considered the largest financial center in Europe. The high demand of foreign investors convinced the government to offer the necessary infrastructure for them to employ skilled individuals from outside the country while investing the education of its own workforce. Now, the ratio between foreign and local employees is disproportionate only because of the small size of the country and thus foreign companies employing foreign employees because of the lack of local workers. A recent survey showed that the number of jobs exceeded twice the number of the population ready to work.

If you are interested in opening a company in the Grand Duchy, you can contact our law firm in Luxembourg for assistance with the company registration procedure.