Luxembourg Business Compass 2014
Twelve-month outlook for the Luxembourg economy
What do you think, how will the economy in general develop here in Luxembourg in the next 12 months?
When the first survey wave was conducted in April 2009, the Luxembourg economy was
in the grip of the global crisis sparked by the collapse of the U.S. real estate market in 2007.
Subsequent surveys offered signs that the Luxembourg economy was on a steady path towards recovery.
However, since late 2011, against the backdrop of the escalating European currency and debt crisis,
economic expectations have again become more clouded.
In 2014, Luxembourg business leaders are increasingly optimistic about the economic outlook of the next
12 months (+0.9%). They anticipate perceptible economic growth over the course of the year, even if their
expectations are still considerably more cautious than they were in late 2010/early 2011.
Their expectations have however risen for the fourth time in a row, even if the increase since the
last survey in April 2014 is only slight (+0.1 points on the scale).
In addition to the core questions on the economic trend and Luxembourg's competitiveness,
this survey wave focuses on the perception business leaders have on the increase of the value-added tax,
the geopolitical instability and the Nation branding strategy.
KPMG conducts a biannual study with the Luxemburger Wort, the Luxembourg Business
Compass. The study aims to ascertain business leaders expectations regarding future
economic trends. The survey also zooms in on entrepreneurs plans for their own companies'
future development. These core elements are supplemented by varying questions pertaining
to topical issues in business or politics. The study is analyzed independently by
the Institut für Demoskopie Allensbach.