Luxembourg is once again among the top 3 performers in the 2024 IMD World Talent Ranking, which measures how economies around the world perform in sustaining their pool of talents. Switzerland ranks number on in the world, followed by Singapore.
Considerable investments, high quality of life
The study is built on three categories:
- Investment and development
- Appeal
- Readiness
Luxembourg ranks 2nd for its investment and development performance, mainly due to its total public expenditure on education per student (1st), the quality of education as measured by the pupil-teacher ratio in primary (3rd) and secondary (9th) education, and its strong health infrastructure (11th).
The country is in 4th place for its appeal factor, where it stands out for its statutory minimum wage (3rd), quality of life (8th) and remuneration of management (8th). The low exposure to pollution (13th) and good ability to attract and retain talent (15th) are also worth mentioning.
Luxembourg only ranks 23rd in the readiness category, facing some challenges in female labour force participation as well as in the availability of skilled labour and competent senior managers. However, it still stands out for certain parameters in this category such as the availability of language skills (5th) and the international experience of senior managers (9th).