Luxembourg is the most competitive economy in the European Union

Luxembourg is ranked as the most competitive country in the EU, according to the latest IMD (International Institute for Management Development) annual world competitiveness ranking, which rates the world’s best performing economies.

Luxembourg has moved up 5 places, from 11th to 6th worldwide, thanks to Luxembourg’s strong track-record in cross-border business and ability to compete at a global level.

During the last years, Luxembourg has become the investment hub for many start-ups and innovative companies that wish to access the different national markets in Europe. Activities range from FinTech to R&D, eco-innovation technologies, biotechnologies, as well as automotive and space technologies.

The index ranks countries based on a set of factors including economic performance, government efficiency, business efficiency and infrastructure.

                                               Source: IMD

Read on for further information on the IMD world competitiveness ranking 2015.