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© 2016 Dwellworks

Page 5

Discovering Luxembourg

Economy

Luxembourg's stable and high-income

market economy

features 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 steel

until the 1960’s, has since diversified to include chemicals,

rubber, and a financial sector.

Banking

an

d finance

account 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