The minimum monthly wage in Luxembourg is 2342 USD. Luxembourg has a government debt of 53.2% of the country's Gross Domestic Product (GDP), as assessed in 2012. With regard to consumer prices, the inflation rate in Luxembourg is 1.8%. The currency of Luxembourg is euro. There are several plural forms of the name 'euro'. These are euro, euros. The symbol used for this currency is €, and it is abbreviated as EUR. The euro is divided into cent; there are 100 in one euro. Each year, consumers spend around $17,998 million. The ratio of consumer spending to GDP in Luxembourg is 0.03%, and the ratio of consumer spending to the world consumer market is 5.19%. The corporate tax in Luxembourg is set at 29.22%. Personal income tax ranges from 6% to 52.45%, depending on your specific situation and income level. VAT in Luxembourg is 17%.
Gross Domestic Product
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Luxembourg is $53,672 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Luxembourg was last recorded at $90,920,025. PPP in Luxembourg is considered to be very good when compared to other countries. Very good PPP indicates that citizens in this country find it easy to purchase local goods. Local goods can include food, shleter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with very good PPP are safe locations for investments. The total Gross Domestic Product (GDP) in Luxembourg is 60,131 billion. Based on this statistic, Luxembourg is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in Luxembourg was last recorded at $101,861,530. The average citizen in Luxembourg has very high wealth. Countries with very high wealth per capita have an extended life expectancy and very high standard of living. Highly skilled workers can be found in many industries, and labor is very expensive in these countries. Countries with very high wealth offer opportunities for safe investments, as they are often supported by a diverse and thriving financial sector. GDP Annual Growth Rate in Luxembourg averaged 2.7% in 2014. According to this percentage, Luxembourg is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly.
