Still cited among the richest countries in Europe, Luxembourg nevertheless has a very high proportion of people at risk of poverty: one in five residents is affected.
Some paradoxes are very cruel. Luxembourg, European champion in purchasing power, is also among the countries with the highest poverty rate.
According to a Eurostat study, the Grand Duchy had a poverty rate of 18.8% in 2023. That is to say almostone in five people living in great difficulty, with an income of less than €2,518 in 2023. A sum that the minimum pension does not allow to reach either. A recent study by the Chamber of Employees also mentioned another alarming figure: one in seven employees is poor in Luxembourg.
Economically prosperous, Luxembourg comes 11th in this ranking of European countries. Behind more fragile countries (Romania, Bulgaria, Türkiye) but ahead of its neighbors. So, Luxembourg does less well than Portugal (17%), France (15.4%), Germany (14.4%) and Belgium (12.3%).
Not unlike a paradox, Luxembourg therefore has one of the highest GDP per capita in the world. Its inhabitants manage to save more money than their European neighbors. And from 2025, taxes for all workers and retirees will fall. Which does not prevent the Grand Duchy from living with its demons. In particular a real estate market in crisis, which has become unaffordable for a large part of the population.
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