Informations
E C N A L G A T A X LU GOVERNMENT
TOURISM
Commission de Surveillance du Secteur Financier
Banque Européenne d'Investissement
Ministère d'État
Philharmonie
BANKING HOTSPOT AND INVESTMENT FUND INDUSTRY Ranked 8th in the world, the Luxem bourg financial centre is not only the largest investment fund and captive reinsurance centre in Europe but also the largest private banking centre in the Eurozone. Its success is based on the country’s social and political stability, on its modern legal and regulatory framework. The Luxembourg financial centre is characterised by a strong culture of investor protection and rigorous anti moneylaundering policies, under pinned by a competent and proactive supervisory authority. A multilingual, multicultural workforce enables the financial industry to meet the require ments of their international clientele. The financial sector is one of the main employers in Luxembourg and contributes to over 30% of its GDP.
A STEEL GIANT AND SATELLITE PROVIDER The steel industry has constituted since 1850 the backbone of the Luxembour gish economy. Today, ArcelorMittal (formerly ARBED), the biggest steel company in the world, is still the biggest private employer in the country with 5,870 employees. Since the 1980s, the banking sector has come to play a predominant role in the economy, but other sectors have also expanded, such as the telecommunications sector with the RTL Group and the recent installa tion of the European headquarters of Amazon and eBay in Luxembourg. Satellite operator SES, whose global satellite fleet reaches 99% of the world population, is yet another star on the Luxembourgish business heaven.
IN THE HEART OF EUROPE An independent country since 1839, the Grand Duchy of Luxembourg is a constitutional monarchy with a parlia mentary democracy. The official head of state is HRH Grand Duke Henri. JeanClaude Juncker’s Christian Social People’s Party (CSV) has been the senior coalition partner in successive governments since 1979. After 2009 elections, Luxembourg is one of the six founding members of the European Coal and Steel Community in 1951, the precursor to the EU. The Luxem bourgish capital is home to a number of European institutions: the European Court of Justice, the European Court of Auditors, Eurostat, the Office for Official Publications of the European Communi ties, the European Investment Bank, and buildings for the European Com mission and the European Parliament.
A HUB OF CULTURE As the Capital of the country, Luxem bourg City offers a rich cultural life. The Museum of Modern Art (Mudam), designed by SinoAmerican architect I.M. Pei, the Philharmonie concert hall and the Grand Théâtre de la Ville de Luxembourg have turned the Luxem bourgish capital into one of the main cultural hotspots of the region. Luxem bourg City can also look back at a rich history of more than a thousand years that can be explored when visiting the underground tunnels “Casemates” or going for a walk along the fortress on the Wenzel path. However, Luxembourg as a country has more to offer. The south of the country, also known as “Minett”, gives you the opportunity to dig into Luxembourg’s industrial past at the site of EschBelval, where the Rockhal is the venue for the biggest names in Rock and Pop. The hilly Ardennes region in the north is home to a number of beautiful castles like Vianden or Clervaux, which houses Edward Steichen’s The Family of Man photo exhibition. The Moselle valley, which borders Germany, invites you to taste some good Luxembourgish white wines.
Photo : Wade Zimmerman
FINANCIAL CENTRE ECONOMY
IN NUMBERS Banks: 141 (Apr. 13) Employment in the financial sector: 44,000 (Dec. 12) Net assets in Luxembourg funds: 2,528.92 billion euros (Mar. 13) Growth in fund industry: +14.06% (Mar. 12 – Mar. 13)
USEFUL WEBSITES www.luxembourgforbusiness.lu Ministry of Economy: www.eco.public.lu Luxembourg Chamber of Commerce: www.cc.lu Statistics office: www.statistiques.public.lu Business Guide Luxembourg: www.index.lu
IN NUMBERS Population: 537,039 (Jan. 13) Foreign population: 44.5% (Jan. 13) Size: 2,586.4 km2 Official languages: German, French and Luxembourgish USEFUL WEBSITES Luxembourg Government: www.gouvernement.lu The Grand Ducal Family: www.monarchie.lu Luxembourg and Europe: www.ena.lu European Court of Justice: www.curia.europa.eu
IN NUMBERS Visitors per years: 907,531 (2009) Hotels and camping sites: 379 (2012) Accommodation for: 63,483 (2012) (hotels + camping sites) USEFUL WEBSITES Luxembourg National Tourist Office: www.ont.lu Restaurant guide: www.explorator.lu
Sources : Statec, CSSF
USEFUL WEBSITES General information: www.luxembourgforfinance.lu Banking Association (ABBL): www.abbl.lu Investment Fund Industry Association (ALFI): www.alfi.lu Luxembourg Stock Exchange/ Finesti: www.bourse.lu/www.finesti.lu CSSF (Commission de Surveillance du Secteur Financier): www.cssf.lu Commissariat aux Assurances: www.commassu.lu
IN NUMBERS Currency: euro GDP growth in 2012: 0.3% Unemployment rate: 6.6% (Mar. 13) Employment: 359,846 (Mar. 13) Crossborder commuters: 158,906 (Mar. 13) Inflation: 2.0% (Mar. 13)
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