Luxembourg has been ranked #14 out of the 60 'Best Overall Countries', according to a report launched at the World Economic Forum's Annual Meeting in Davos in January 2016.

The analysis, conducted by US News & World Report, BAV Consulting and the Wharton School of the University of Pennsylvania, evaluated 60 countries based on a survey of 16,000 global citizens.

"Best Countries is a product of the most extensive data set ever collected on how nations are perceived globally," commented John Gerzema, CEO of BAV Consulting. "These perceptions contribute to a greater narrative about future drivers and deterrents of economic prosperity in nations, and shape powerful brands that impact a country's bottom line."

Luxembourg's neighbour Germany took pride of place in the rankings for its strong economy, leadership role in crises and corporate innovation. Meanwhile, the Grand Duchy itself was placed 14th, but the most business friendly country overall for its favourable tax environment and transparent government practices. With a GDP per capita of $92,049, Luxembourg is the second-wealthiest country after Qatar and was seen by the report to be the 5th best country to headquarter a corporation.

Luxembourg also fared well in 'Citizenship' (#10), particularly with regards to its care for human rights; and 'Quality of Life' (#10), wherein it was perceived as safe, economically and politically stable, and with a well-developed public education and health system. The country was also ranked #10 Best Country for raising kids, #9 for women and #16 for a comfortable retirement.

However, the Grand Duchy appeared to perform poorly in terms of 'Power' (#32), as it was seen to hold a weak military and a lack of political influence despite stronger international alliances. With regards 'Heritage' (#45), it was pulled down the rankings for a low score on food, cultural attractions and rich history, whilst the 'Movers' sub-category poorly reviewed the country for distinctive, different, unique and dynamic attributes.

In the rankings, Luxembourg lay just behind Italy and just ahead of Singapore. The Grand Duchy also ranked just in front of the Asian nation with regards to capital per worker in the 2015 Legatum Prosperity Index, which ranked Luxembourg 13th out of a total 142 countries.

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