Economy

Luxembourg, the second richest region in Europe

According to the 2017 edition of the Eurostat regional yearbook, GDP per capita in Luxembourg is 257% of the European average.

07-pibIn 2016, Eurostat recorded a GDP per capita, expressed in purchasing power standards, of €75,100 for Luxembourg. This represents 257% of the average of all regions in the 28 European Union Member States, which stands at €29,200. It places Luxembourg second in the ranking of EU regions, beaten only by Inner London – West, whose GDP per capita was 580% of the EU average.

Huge regional disparities

In four regions, the GDP per capita was more than double the EU average: Inner London – West, Luxembourg, Hamburg and Bruxelles Capitale/Brussels Hoofdstedelijk Gewest (the Brussels region). This result is not surprising, since the regions are all characterised by a high number of commuters from neighbouring regions. Luxembourg is the most dynamic economic centre in the Greater Region, attracting more than 180,000 cross-border workers every day, according to the latest Statec figures.

Eurostat's statisticians note that Luxembourg is part of a band of wealthy regions which starts in northern Italy and runs through Austria and Germany before dividing in two, with one strand extending towards the Benelux countries, southern England and Ireland, and another towards the Nordic Member States. 

The EU also has 19 regions whose GDP per capita is less than 50% of the European average. The Bulgarian region of Severozapaden is the poorest, with just 29% of the EU average, followed by Mayotte in France (32%). Of these 19 regions, 5 are in Bulgaria, 4 each in Hungary and Poland, 3 in Romania, 2 in Greece and 1 in France.

(Article written by the editorial team of the luxembourg.lu portal)
  • Updated 12-03-2018