Let’s talk about living on the expensive side of life. Today shall we because the country we’re bringing you to is anything but cheap and boring. So sit back and let us make you fall in love with today’s destination. Luxembourg is small as it is with an area of only 2.5 square kilometers. More than half of Luxembourg’s population is composed of foreigners and the economy is flourishing back to the 10th century. Luxembourg was a small castle that later developed into a city in the country that we know it is today. Despite its small size Luxembourg is a part of the European Union and plays a major role in the region’s political involvement.
1. It Is Of The Smallest Sovereign States In Europe
Luxembourg takes the eighth place in Europe when we’re talking about the smallest of sovereign states. The only ones to top that are the Vatican, Monaco, San Marino, Liechtenstein, Malta Andorra, and Georgia without the Asian part. With the size of about two thousand five hundred and eighty-six square kilometers or 998 square miles. It also takes one hundred and seventy-ninth place in the size of all. The 194 independent countries of the world. Even if the state only measures eighty-two kilometers and 57 kilometers wide during the 20th century. Its population increased dramatically due to the big mass of immigrants that came from France, Italy. In Germany in 2017 Luxembourg had a population of approximately five hundred and ninety thousand 329 people which when you think about it it’s kind of a small amount for anything you’d consider a country.
2. Luxembourg City Is One Of The Most Relaxed City In The World
If you live in a big and busy city we’re sure it can become difficult to find a place to relax and run away from the buzz. Even if you cuddle up in a cozy spot at home and your favorite coffee shop. However when it comes to Luxembourg City the country’s capital things are a bit different with the lowest population density for a state capital. Luxembourg City is the best choice if you’re into quiet places and avoiding people while going out for dinner. On top of all that the work-life balance is great with lots of holidays and laid-back mindsets. Imagine five paid weeks of vacation and thirteen national holidays plus with more than half of the population being immigrants. This city is a multicultural one and the diversity of mentalities will be very beneficial to your well-being.
3. Luxembourg’s The Second Richest Country In The World
It may come as a surprise to you but the smallest countries are the richest ones according to global finance magazine only Qatar gets in. Luxembourg sway of becoming the richest nation in the world. In 2017 Luxembourg had a GDP or gross domestic product per capita of 100 1936 dollars. The economy is constantly growing because of the industrial sector and the agricultural field more than constant growth and economy. There is low inflation and the unemployment rate is below 10%. Moreover, the Luxembourg government attracted Internet start-ups with Skype and Amazon being two of the. Many Internet companies that have shifted their regional headquarters to Luxembourg.
4. Luxembourg Actually Means “Little Castle”
If you love castles and fairy tales this is your paradise in the medieval years there were more than 100 castles in Luxembourg. As we already mentioned the country itself started off like a castle. Sadly only half of them are still standing with a majority being privately owned like burg Castle. Where the Grand Duke of Luxembourg has his residence. If we do a little math the result is that you’ll find a castle every 100 square miles which is impressive. If you’re into medieval architecture if you’re also a fan of walking you can choose the hiking trail into the valley of the seven castles and visit. Some of the most impressive castles the country has to offer.
5. Mansor Akram Ojjeh Is The Richest Person Luxembourg With A Net Worth Of $3.2 Billion
The technique to the vom card company is a private holding with its headquarters in Luxembourg. That offers products and services in the business of aviation with interests worldwide. Its CEO Mansor Akram Ojjeh is the wealthiest man in Luxembourg. He was born in Saudi Arabia in 1952 with French citizenship. Graduated in 1974 with a degree in Business Administration from Menlo College in California. Now rules over the tag empire that also owns 25% of the McLaren Technology Group. The most important asset of McLaren is at the moment the McLaren Formula One team. Mansor owns a part of that as well he also owns 10% of the upmarket jewelers brand Osprey and Gerrard. His net worth is at this point 3.2 billion dollars and besides an impressive home and luxury car collection. He also owns an 80 million dollar yacht.
6. Luxembourg Can Be A Model For Hong Kong’s Workforce
Hong Kong is facing a serious problem regarding its workforce, especially in construction and catering. First of all, they need to facilitate the borders passing so foreigners can come to work there. This is the most important thing that Luxembourg turned into an advantage. Luxembourg facilitated taxes and regulations for foreigners especially for them to come workforce. They also have to secure an area where new companies and startups will set up their headquarters. In order for the number of workplaces to rise all of these issues have been addressed and fixed by Luxembourg in very efficient and practical ways. Hong Kong could definitely learn a thing or two from them.
7. They Face An Espionage Scandal In 2017 Involving Their-Prime Minister
Luxembourg had to hold new elections after a scandal involving Jean-Claude Juncker a Luxembourgish politician serving as president of the European Commission since 2014 had come to light. Everything started back in 2013 when their Prime Minister announced his resignation. After a Secret Service scandal where the Luxembourg intelligent Chiefs were
accused of having made unauthorized taping of phone conversations. Keeping around 13,000 secret files on the state’s politicians. The case was brought back and fresh evidence emerged. The judges launched a new criminal investigation into other government officials working for Mr. Juncker. Deliberately falsified crucial evidence during the 2013 preliminary investigation but Mr. Younker denied having any knowledge of illegal activities.
8. The Lux Leaks Revealed Tax Rulings Done By PWC
A journalist investigation conducted by the international consortium of investigative journalists revealed. In November 2014 a financial scandal named Luxembourg leaks sometimes shortened to Lux leaks. Luxembourg is named a tax haven because PricewaterhouseCoopers or PwC had helped multinational companies obtain at least 548 tax rulings or legal secret deals. In almost eight years a lot of confidential information about Luxembourg stacks rulings set up by PricewaterhouseCoopers were exposed alongside. The tax rulings of nearly 340 international companies such as Pepsi, IKEA, AIG, Coach, Deutsche Bank, and Abbott Laboratories. The government looked into this but Luxembourg still works like this as the tax haven.
9. Luxembourg Succeeded In Steadily Reducing The Number Of Fatalities On Roads
Luxembourg took initiative into reducing the number of fatalities on roads. A few years ago they introduced more police controls, traffic cameras and increased penalties regarding driving issues. All of these measures contributed to reducing the number of fatalities to 47 per 1 million inhabitants in 2017. Instead of two hundred and sixteen per 1 million inhabitants in 1991. Luxembourg is the only European country with no road death increase even if Luxembourg still has a long way to go in order to improve road security. It’s estimated that 19 percent of road fatalities and 22 percent of seriously injured casualties are due to drinking and driving. Forty-eight percent of all fatalities are due to speeding.
10. Studio Apartment In Luxembourg Go High As $935 A Month
Last year the rents for accommodations in Luxembourg had gone mad only for a studio apartment people had to pay approximately nine hundred and thirty-five dollars a month. It’s important to mention that we talk about the price in the most important areas. Since the country is as small as it is almost all of it counts as important also. If you think of buying a house in Luxembourg you’re also going to need approximately seven hundred thousand euros. Which is about eight hundred and thirty-four thousand dollars. The best advice we can give you is to start with a renting apartment. If you want to move to Luxembourg or maybe work as hard as you can and buy your dream house there.
11. They Have Blood Banks From Donors
It’s been more than five years since the Red Cross was organizing events for blood donation in Luxembourg. April is their donation month and at some point, they had a record of 180 donations in a single day. In total, they managed to collect blood from nearly 13,000 people. Given the fact that transfusion recipients are only given the blood components needed in their treatment. One donation could be used for several patients. There’s no urgent necessity for blood and Luxemburg but having a blood bank is very important. In the case of a catastrophe, they can manage the blood problem. On the other hand, there is a limited shelf life for blood from five days for platelets to two years for albumin.
12. Uber Is Having A Tough Time In Luxembourg
Uber might be forced by the European courts to get the necessary licensing like any other taxi company. Since at the moment they are in a legislative gray zone at the moment. Uber faces the risk to be banned out of Luxembourg after some sad incidents taking place in Barcelona and London. The scandal began when a few women were raped during their ride with an uber while others were sexually harassed. People all over Europe started protesting against uber especially taxi drivers. In its defense uber said that more than 7.5 million people and 120 thousand drivers in the European Union use their app. They do their best to ensure a high level of safety during their rides.
13. Luxembourg Is A Tax Haven Country
Luxembourg has been a tax haven of choice for many corporations and rich individuals around the world. Since the 1970s the taxes are extremely low in Lux and this gives the private businesses a chance to grow and contribute to the economy of Luxembourg. While avoiding paying higher taxes in their home countries. Many of the US corporations such as PepsiCo, American International Group and Walmart stores are well known for creating branches and offshore tax havens such as Luxembourg in order to cut taxes. In 2013 Luxembourg was ranked as the second safest tax haven in the world right behind Switzerland.
14. SpaceX Launches Luxembourg’s Communication Satellite
On January 31st, 2018 Falcon 9’s launch of gov sat.1 – a geostationary transfer orbit was SpaceX’s sixth mission with a flight-proven rocket that carried. Luxembourg made communication satellite into space. This satellite will circle the earth for 15 years at a height of about 36,000 kilometers. For the launch, the Prime Minister and Deputy Prime Minister of Luxembourg along with a prince and princess of Luxembourg went to Florida to take part in the event. This is a very important step for the European community because it will provide better communication services and better NATO protection. Last year the same Falcon 9 booster was used to launch a top-secret payload into space for u.s. government.
15. Half Of Luxembourg’s Workforce Commutes To Work From The Surrounding Countries
As we mentioned before most of the workers in Luxembourg come from surrounding countries making Lux a multicultural environment. Most people travel across the border from France about seventy-eight thousand five hundred workers as well as Belgium and Germany. Today approximately 43 percent of the total workforce in lux comes from outside of the country. As an upside to this situation provides the best example of no language borders. Almost any foreigner can find a workplace in Luxembourg. The main reason foreigners do not move to Luxembourg if they found a job there is because of the high price of accommodation.