International benchmarks
Luxembourg's latest rankings:
Euro plus monitor 2011
The German Bank BERENBERG BANK and the Brussels think tank THE LISBON COUNCIL have released a new survey measuring the overall economic health and the development perspectives of the 17 eurozone countries, The 2011 Euro Plus Monitor. This survey analyses and ranks the eurozone countries according to two criteria: on one hand the overall health of the domestic economy (overall health indicator), and, on the other hand, the ability to adapt to the challenges that will be posed in the course of the next years (adjustment progress indicator). The analysis is based on four categories of indicators: long-term growth potential, competitiveness, fiscal sustainability and fundamental resilience to financial shocks. Countries have then been ranked by categories and sub-indicator, on a scale from 0 (very bad) to 10 (very good).
Generally, Luxembourg ranks much higher for the overall health of its economy (2nd, score: 7.3) than for its adjustment capacity to the forthcoming challenges (9th, score 4.0).
In the overall health indicator, Luxembourg ranks as follows:
• In relation to the long-term growth potential, Luxembourg ranks 2nd among eurozone countries;
• In terms of competitiveness, Luxembourg ranks 8th, (score: 6.4);
• In terms of fiscal sustainability Luxembourg ranks 2nd, (score 9.2);
• Luxembourg’s fundamental resilience to financial shocks ranks 6th, (score: 6.6).
In the adjustment progress indicator, Luxembourg ranks as follows:
• Luxembourg ranks 10th in terms of external adjustment (score: 3.3)
• Luxembourg ranks 15th in terms of fiscal squeeze (score 1.9)
• Luxembourg ranks 5th in real unit employment costs (score: 6.8)
Luxembourg owes its success to its external orientation and its important financial centre, which enable the country to have a high level of regulation in many markets (also in the labour market). The solidity of public finance, the strong growth potential in comparison to other eurozone countries and the low level of public and private consumption are considered to be Luxembourg´s strengths.
http://www.odc.public.lu/actualites/2011/11/euro_plus_monitor_2011/index.html
Global connectedness index 2011
The national product, capital and labour markets become increasingly integrated as a consequence of globalisation. Reducing custom barriers, the progress of technology, lower transportation and communication costs have been instrumental in this process. Today, direct international relations become more closely connected on a long-standing basis.
In this context, DHL has released its new report : Global connectedness index 2011, a comparative, international study of 125 countries across the world, measuring their global connectedness. The study starts from the ideas that countries open to globalisation get more important opportunities to seize, and that public policies promoting globalisation will have a major impact on future economic development. The index calculated by DHL in order to measure connectivity is entirely based on quantitative data from international flows in four categories: products and services, capital, information, and people) according to both its depth and breadth dimensions.
On top of the global ranking are: the Netherlands, Singapore, and Ireland. Luxembourg ranks 5th, Germany 13th, Belgium 8th and France 12th. Luxembourg has lost two places since 2005, when it was N° 3 in the list. Since 2006 the index value of Luxembourg has continually dropped.
In terms of global connectedness, Luxembourg’s depth position (world-wide N° 3) is much better than its breadth position (world-wide N° 29). Under the four pillar categories Luxembourg’s performances and rankings are the following: Luxembourg ranks 34th in terms of products and services flow. It is 1st in terms of capitals flow and 13th in terms of people flow (no data available in terms of information flow).
http://www.odc.public.lu/actualites/2011/11/DHL_-_global_connectedness_index/index.html
Mercer – Quality of living survey 2011
Mercer Consulting has released the 2011 edition of its annual Quality of living survey, which aims to review the quality of living for expatriate employees in their host cities all around the world. This survey is carried out to assist multinationals and governments in assigning hardships allowances for personal relocated abroad. The survey is based on factors that expats consider to have an important impact on their quality of living, in their host city.
The 2011 edition reviews 221 cities, using 39 indicators to analyse the quality of living. These indicators are grouped within the 10 following categories: political and social environment, economic environment, socio-cultural environment, health and sanitation, schools and education, public services and transportation, recreation, consumer goods, housing and natural environment.
In this year’s edition, European cities still rank among the top cities. Vienna, Zürich and Auckland are the first three cities world-wide. Luxembourg is N° 19 in the final ranking, its position remaining unchanged since the two last editions (2009 and 2010).
The 2011 survey also features a new ranking named “personal safety”. It is based on criteria of internal stability, crime levels, law enforcement effectiveness and host country international relations. In this section, Luxembourg ranks 1st, followed by Berne and Helsinki.
http://www.odc.public.lu/actualites/2011/11/Mercer_2011/index.html
IMD WORLD COMPETITIVENESS YEARBOOK
Fast forward your competitiveness!
The Swiss IMD Institute has released the 2011 edition of its annual report on competitiveness, the World Competitiveness Yearbook (WCY). In this new edition, 59 countries are analyzed along 300 criteria. These criteria are both quantitative and qualitative and gathered from an opinion survey from various business decision makers. Analysis of the WCY is based on four main criteria: economic performance, government efficiency, environmental performance and infrastructure. In Luxembourg, the IMD survey is coordinated by the Chamber of Commerce.
The 2011 ranking is led by Hong Kong, followed by the United States and Singapore. Luxembourg occupies position 11 in the overall ranking of the 59 countries analyzed. Luxembourg holds as such the same ranking as in the previous report.
In the 2011 edition, the neighboring countries of Luxembourg i.e. Germany ranks 10th, Belgium 23rd and France 29th.
http://www.odc.public.lu/actualites/2011/05/IMD2011/index.html (In French only)
http://www.imd.org/research/publications/wcy/index.cfm
Transparency international _ Corruption perceptions index 2011
Transparency international, a non governmental organization at the forefront of the fight against corruption, has released the 2011 edition of its annual Corruption perceptions Index (CPI). The institutional and regulatory framework in which economic activities take place affects the way in which resources are being shared, investments decisions oriented, and creativity and innovation stimulated. Corruption weakens countries and damages the stability and the security of decisions taken by economic actors.
The composite index CPI measures the perception of corruption in the public sector in 183 countries. It is calculated on the basis of information deriving from 17 surveys carried out by 13 international institutions among experts and corporate decision-makers. The CPI is measured on a scale from 10 (high level of integrity) to 0 (high level of corruption). The sources used to calculate the CPI contain questions on power abuse and focus on bribes paid to civil servants or paid in the context of public tenders, on the misappropriation of public funds, as well as on questions relating to the strength and efficiency of the fight against corruption in the public sector. Thus, these questions globally address the administrative and political aspects of corruption. The results are then used to rank the countries/territories according to the perceived level of corruption in the national public sector.
In the 2011 edition, New-Zealand, Denmark and Finland stay on top of the list. Together with Ireland, Luxembourg ranks on the 11th global position, with a score of 8.5. Germany is 14th, Belgium 19th and France 25th. Within Europe, Luxembourg ranks on place 7. Thus Luxembourg belongs to those countries in which corruption in the public sector is perceived as being less important.
http://www.odc.public.lu/actualites/2011/12/Corruption_perception/index.html