A report launched at the World Economic Forum's Annual Meeting in Davos earlier this year has found Luxembourg to be the 16th Best Country to Start a Career out of a total of 60 countries.

The survey, compiled by US News & World Report, BAV Consulting and the Wharton School of the University of Pennsylvania, placed Luxembourg at #14 in Best Countries overall and #16 in terms of the best place to launch a career.

According to US News & World Report Data Reporter Deidre McPhillips, "Behind a country's wealth and success are the policies that create possibilities, the people that drive the effort and the history that shapes the environment and perspective".

The report was therefore generated through a survey of more than 16,000 people from across the globe who gave their opinion on their country's ties to a set of 65 attributes, classified into the nine subrankings of Adventure, Citizenship, Cultural Influence, Entrepreneurship, Heritage, Movers, Open for Business, Power and Quality of Life.

The Grand Duchy holds a GDP per capita of $92,049, with the report explaining: "Luxembourg is the wealthiest country in the European Union, per capita, and its citizens enjoy a high standard of living. Luxembourg is a major centre for large private banking, and its finance sector is the biggest contributor to its economy."

This is reflected in the country's number one position in terms of "Open for Business", in which it achieved ten out of a maximum of ten. Luxembourg's multi-cultural population meant that it also fared well in terms of "Citizenship" (7.3 score, #10 rank) and "Quality of Life (6.6 score, #10 rank). However, it ranked low down with a score of 0.6 for "Power" and 1.1 for "Movers".

For the Best Countries to Start a Career topic, countries were scored by 6,000 millenials on the following criteria: job market, economic stability, entrepreneurial atmosphere, income equality, innovation, progressiveness and willingness to live there.

China, which ranks lower than the Grand Duchy in Best Countries at #17, claimed top of the tier for Best Countries to Start a Career, followed by Germany (#1 in Best Countries) and then the US (#4 in Best Countries).

 

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