

© 2016 Dwellworks
Page 5
Discovering Luxembourg
Economy
Luxembourg's stable and high-income
market economyfeatures moderate
growth,low
inflation,a high level of innovation, and relatively low unemployment. According to the
IMF,Luxembourg was the second richest country in the world in 2011. The industrial sector,
which was dominated b
y steeluntil the 1960’s, has since diversified to include chemicals,
rubber, and a financial sector.
Bankingan
d financeaccount for the majority of economic
output. The favorable corporate tax climate has attracted several, large tech companies to
continue increased growth in Luxembourg.
Public Holidays
Holiday
Date
New Year’s Day
1 January
Good Friday
Friday before Easter
Easter Monday
Monday following Easter
Ascension
40 days after Easter
Whit Monday
7th Monday after Easter
Labour Day
1 May
Luxembourg National Holiday 23 June (unless the 23rd is a Sunday, then its moved to the 24th)
Assumption
15 August
All-Saint’s Day
1 November
Christmas Eve
24 December
Christmas Day
25 December
St. Stephen’s Day/Boxing Day 26 December
Time Zone
Local Time Zone
Luxembourg coincides with the Central European Time Zone (GMT +1). Luxembourg
observes Daylight Savings Time.
Telling Time
Luxembourg generally uses the 24-hour clock to tell time rather than the 12-hour clock.
Weather
Luxembourg has a mild, humid, temperate climate with no dry season. Waterproof outerwear
is advisable at all times of the year, as there is no discernible wet or dry season. The warm
season has an average daily high temperature above 19°C (66 F). The cold season has an
average daily high temperature below 7°C (44 F); snow is not uncommon.
Climate
: Oceanic Climate; summer (June to September); winter (November to March)
Natural Hazards:
Storms and flooding