Credit: MECO
The Observatory of Competitiveness (Observatoire de la compétitivité - ODC) within Luxembourg's Ministry of the Economy has just published its 2021 competitiveness and resilience report.
Faced with the COVID-19 health crisis, this assessment has been supplemented with the dimension of resilience. The report devotes a chapter to the notion of resilience based on the European Commission's “resilience dashboards”. It also offers an analysis of the relevance of the resilience approach to the Luxembourg case.
This new edition also assesses Luxembourg's competitive position in the European Union (EU) following an atypical year and provides an overview of the economic, social and environmental situation for 2020. In the national competitiveness scoreboard, Luxembourg ranked 3rd among EU Member States and thus gained a place in the general ranking. In particular, the Grand Duchy has strengthened its position in the economic field, where it now ranks 8th. It also maintained its 2nd position in social matters and progressed slightly in the environmental aspect, ranking 5th in this area.
As in previous editions, this assessement analyses a series of international benchmarks. Overall, Luxembourg was found to still perform fairly well in the territorial competitiveness rankings, despite its position having deteriorated slightly over the past five years. This also applies to digitalisation and innovation, two key factors of competitiveness for which Luxembourg's performance remains above the EU average. In addition to the benchmarks traditionally presented, this edition offers a look at the attractiveness of the financial centre. Here, Luxembourg has succeeded in ranking among the world's leading financial centres and is considered a leading international platform for sustainable finance.
In addition to the competitiveness analysis, the 2021 competitiveness and resilience report provides a look at the main national indicators and objectives of Luxembourg in the context of the European Semester.
Finally, the report gives an overview of various studies carried out by the STATEC Research team, in particular on the role of trust in health policies. A second contribution presents the method used for very short-term forecasts of GDP growth. A study based on the latest Global Entrepreneurship Monitor (GEM) survey focuses on the responses and reactions of Luxembourg entrepreneurs to the COVID-19 crisis.
The 2021 competitiveness and resilience report is available (in French) at https://odc.gouvernement.lu/en/publications.html.
