|
Just under a third of all jobs in Luxembourg directly or indirectly tied to the financial services industry, 26% of the value-added to the country’s GDP, as well as a significant portion of the country’s tax revenues stem from the sector. These are just a few of the findings of a recent report by LFF and Deloitte Luxembourg.
The sector’s added value saw a CAGR of 5.2% over the report’s examined period – 2011 to 2021. These largely stem from increases in the corporate banking, fund industry, and audit, consulting and legal services sectors over the period. In 2021, however, the banking sector remained responsible for the most significant contribution, representing over half of the financial services industry’s added value, with the fund industry following at just under...
|