In a globalised would, human capital is a key factor for local competitiveness. The Global Talent Competitiveness Index (GTCI) has established itself as a global benchmark for issues related to talent competitiveness and the future of work.
In the 2019 edition, Luxembourg is in the 10th place in the overall ranking among the 125 countries studied. The country ranks 6th in Europe, after Denmark, Finland, Sweden, the Netherlands and the United Kingdom.
Luxembourg’s good ranking is, according to the study, due to the following factors: “Luxembourg (10th) owes a great part of its position in the top 10 of the GTCI to its excellent performance in Attract (2nd), which itself is the result of combining strong External Openness (3rd) with good Internal Openness (8th). As a small country that has built an international reputation as a centre of finance and industry, Luxembourg also excels at retaining its domestic talent (8th in this pillar). It also has a competitive pool of Global Knowledge Skills (9th) that rests on it being a highly innovative and entrepreneurial country. There are many areas that need improvement, however – notably strengthening Formal Education (55th) in the Grow pillar and ensuring the Employability (32nd, in Vocational and Technical Skills) of domestic talent in the private sector.”
Image credit: Global Talent Competitiveness Index 2019