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Article: Worries fluster prosperous Luxembourg.
- Article from:
- Market Europe
- Article date:
- May 1, 2006
CopyrightCOPYRIGHT 2006 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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What is Luxembourg's secret?
The International Monetary Fund (IMF) predicts that for 2007, Luxembourg's per capita income will-again-be the highest in the world, estimated at us$76,215. This is 68 percent higher than Norway with the world's second highest per capita income.
Luxembourg has long been known as a "tax haven" and the presence there of numerous offshore corporations undoubtedly contributes to its very high per capita income. Also, the population is small.
But as the Association of European Chambers of Commerce and Industry says, "geography and demographic size hardly reflect the present status of Luxembourg."
As if in answer ...