With a 5% of unemployment in 2015, almost 2.000€ of minimum wage and a 3,5% growth of the GDP, macroeconomic figures of Luxembourg offer a clear optimism when investing in the country. Internal demand is the principal engine of economic growth in the country so we could say that the country possesses a good economic health when attracting foreign investment.
In addition to macroeconomic data, there are various factors that propitiate the establishment of foreign companies in Luxembourg:
- It is a small country, which means there are some advantages in the distribution and logistics: in one hour you can reach the whole country from north to south. Luxembourg has an entire surface of 2.586 km2, an extension just a little bit bigger than the province of Vizcaya.
- Furthermore, multiculturality and multilingualism of Luxembourg make it the appropriate country to start to internationalize. With a fee of almost 45% of foreign residents, Luxembourg is a country that receives multiple nationalities. Nonetheless, the 86% of expatriates come from the European Union (Source: Government of Luxembourg).
- In Luxembourg coexist three official languages: French, German and Luxembourgian. Start in Luxembourg will let you continue with new adjacent markets like German market, or the definitely powerful French market. Therefore, immersing in Luxembourg can make things easier and with higher perspectives and outcomes in the long term.
- The geographic position is excellent. Luxembourg is located at 250km from Frankfurt, 200km from Brussels and 400km from Paris. Undoubtedly the border situation with Germany, France and Belgium make this country an interesting spotlight where internationalize.
There are several organisms that serve as support when internationalizing:
- Official Spanish Chamber of Commerce in Belgium and Luxembourg: The Chamber can be responsible for the matters or procedures which may be needed when settling in Belgium and/or Luxembourg: legal assistance, research of possible franchisees, commercial accompaniment, recruitment, brand promotion, flight planning and accommodation, etc. In addition, we can contribute to strength their brand position and visibility thanks to our wide contact network and the prestige with which we count on.
- Dirección General de Pequeñas Empresas y emprendedores: This entity is responsible for the licenses acquisition of establishments, aids to the small businesses and simplification of the administrative procedures when settling in Luxembourg.
- Official Luxembourg Chamber: The Chamber, in its consultative role, supports businesses in legal and administrative procedures. In addition, through the House of Entrepreurship, the Chamber also promotes a point of contact which welcomes and supports projects in doubts of all kinds that they may have. Apart from the resolution of doubts, this entity is responsible for individual cases doing a detailed follow-up of the new entrepreneur.