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Luxembourg has been part of the eurozone since 1999.. Banking is the largest sector in the Luxembourg economy. In the 2019 Global Financial Centres Index, Luxembourg was ranked as having the 25th most competitive financial center in the world, and third most competitive in Europe after London and Zürich. [27]
The steel industry exploiting the Red Lands' rich iron-ore grounds in the beginning of the 20th century drove Luxembourg's industrialization. [87] After the decline of the steel industry in the 1970s, the country focused on establishing itself as a global financial center and developed into the banking hub it is reputed to be.
Luxembourg's cuisine reflects the country 's position between the Latin and Germanic countries, influenced by the cuisines of neighbouring France, Belgium and Germany. Recently, it has been influenced by the country's many Italian and Portuguese immigrants. As in Germany, most traditional, everyday Luxembourg dishes are of peasant origin, in ...
Most citizens are trilingual, speaking French and German in addition to the Germanic national language of Luxembourgish. Although its contributions to the arts are not largely known outside its borders, Luxembourg has a rich cultural history, especially in music, painting and photography.
The following is an overview of the demographics of Luxembourg. Demographic topics include basic statistics, most populous cities, and religious affiliation. The population of Luxembourg as of 1 January 2024 was 672,050 (52.7% Luxembourgers and 47.3% of foreign nationality). [3] The people of Luxembourg are called Luxembourgers. [4]
The history of Luxembourg consists of the history of the country of Luxembourg and its geographical area. Although its recorded history can be traced back to Roman times, the history of Luxembourg proper is considered to begin in 963. Over the following five centuries, the powerful House of Luxembourg emerged, but its extinction put an end to ...
Main article: Economy of Luxembourg. International Monetary Fund: Income per capita in purchasing power parity ranked 1 out of 182 (2009) United Nations Development Programme: Human Development Index ranked 24 out of 169 (2010) Gallup World Poll: happiness ranked 28 out of 155 (2009)
Luxembourg has the highest average wage in the European Union and eurozone as well as the highest monthly minimum wage in the entirety of Europe. Russia has the largest surplus of those European countries not a member of either (or both) the EU or eurozone. Ukraine has the smallest average wage in Europe, mostly as a result of the ongoing war.