Business in Luxembourg Essay Example | Topics and Well Written Essays - 3000 words

business organisation in capital of Luxembourg - Essay ExampleBut over the last few decades the steel sedulousnesss importance has come down while fiscal and banking function have taken the battlefront seat. The financial services sector constituted more than 80% of the countrys GDP. In 2006, Luxembourg had 156 banks. Some of the key points which have helped the economy to perform well are educated labour persuasiveness adept in diverse languages, state of the art communications system, easy admittance to surrounding European economies, and a stable government. The government has also taken the initiative to showcase the country as a communications and audio visual hub. The government has promoted satellite technology in this context. The country with its stable semipolitical background has attracted considerable amount of FDI or foreign direct investments in small, medium and large industrial projects. Though the agricultural sector constitutes of 1% of the economy the countr y is famous for high quality whiteness wines (Country profile Luxembourg, January 2009 Luxembourg Economy, September 2008).The country holds a strategic location in Europe world surrounded by or rather landlocked by three big European economies of Germany, France and Belgium. organism one of the most prosperous countries in the world, it has an open culture and is hospitable to people and business from different areas. Moreover, the highly educated workforce is an asset to the countries economy and has attracted many foreign multinationals to set up their IT and financial clusters there. The country offers numerous tax rebates which has acted as an impetus for its growth, especially in the arena of financial services and banking. It has very high level of telecommunication, satellite and basic infrastructure. It believes in liberal policies and has been a proponent of the alike at the European Union level also. This has assisted it in becoming one of the best performing economies not only in Europe but all over the world. It has been able to leverage