Why is LUXEMBOURG so RICH? – VisualPolitik EN
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Why is LUXEMBOURG so RICH? – VisualPolitik EN

August 14, 2019


Luxembourg is the only country in the World
whose Prime Minister is openly gay. We are talking about one of the most tolerant,
open minded, societies on the planet. In fact, having a population of around 500,000
inhabitants, 40% of them are immigrants. In other words, Luxembourg is the smallest
country in European Union but the one with the biggest share of immigrants. Nonetheless, what made Luxembourg famous can
be summarized in just one word: MONEY. Yes, my dear friends at VisualPolitik, the
Grand Duchy of Luxembourg is among the top 3 wealthiest countries on Earth. Here, the minimum wage is around 2000 euros
a month. And this is the minimum wage. Because the normal wage here is over 5000
euros a month. For comparison, Luxembourgish people have
a GDP per capita twice as big as that of Australians or the Danes. OK, OK, but now hold on just a second because
there is a little trick in this figure! You see… almost half of the workers in this
country live outside of it. Every day, around 160,000 commute to this
country and then, they go back to their homes in Germany, France or Belgium. In other words, they create wealth in the
country but they don’t live there. This is why, when we divide Luxembourg’s
GDP among their population, we get such an enormous number. But even with the statistical deviations,
no one can deny that Luxembourg is kind of a millionaire country. And this explains why its capital, Luxembourg
city, is among the cities with the highest quality of life. Many of you might think this can all be explained
because Luxembourg is a fiscal haven. But the truth is other countries like MALTA
and CIPRUS have low taxes too and they are not even half as rich as Luxembourg. So the big question here is… What does Luxembourg have that makes them
so incredibly wealthy? What did they do in this country in order
to enjoy such a great quality of life? Today we are going to answer this question. But before we do, let’s take a look back
at history. KINGS OF STEEL By the year 1815, the Grand Duchy of Luxembourg
became an “independent” country And I say “independent” because none of
its neighbours really recognized this independence. France and Prussia, what used to be Germany
back then, fought for control of the Duchy on several occasions. In fact, despite their government’s desire
for independence, the territory of Luxembourg was owned by King William the 3rd of The Netherlands. During these years, Luxembourg was far from
being a wealthy country. Most of its citizens survived thanks to agriculture
and iron mining. Back then, 1 out of 5 Luxembourgish people
was emigrating to America. Nonetheless, living between two rival countries
like France and Prussia had its advantages too. You see, during this time, Germany didn’t
exist as a country. Instead, there were a lot of republics, kingdoms
and duchies, united under a confederation. If you want to know what a confederation is,
do click on this video. The truth is… all the German states traded
among them. They had basically created a special free
trade zone, the so called ZOLLVEREIN. So… in 1942, Luxembourg became a member
of this ZOLLVEREIN. Since then, history would never be the same. As I said before, poor Luxembourg was based
on two main industries: agriculture and iron mining. And remember, we were in the times of the
industrial revolution. Steel was needed for, basically, everything,
from machines to buildings. And Luxembourgish citizens were sitting on
a pile of Iron. But not only that! We are talking about a tiny country, placed
in the intersection between Germany, France and Belgium. In other words, it was the perfect point to
have a railroad so they could send the iron to all three countries. Out of a sudden, Luxembourg became the zero
kilometre to all those trade routes. And also one of the biggest steel providers
on the planet. In fact, many of those New York skyscrapers
were built with beams from this country. This is why the biggest Steel companies are
Luxembourgish. Especially, the biggest of all of them, ARCELOR
MITTAL, which you might have seen in the financial newspapers. In other words, in just a few decades, Luxembourg
got to the same level as its neighbours. But still it was not the economic behemoth
it is today. They needed a special sauce. And that special sauce was this… 1929 This is the year when Luxembourg passed the
Holding Law. But wait just a minute! Because now you might wonder… What is a Corporate holding all about? Well… let’s take COCA-COLA as an example. On one hand, COCA-COLA is a beverage brand. But on the other hand there is the COCA-COLA
company. This is a big conglomerate that includes other
companies like FANTA, SCHWEPPES or COCA-COLA, the beverage brand, itself. OK, so this big conglomerate is called a Holding
Corporation. And the companies inside of it are called
SUBSIDIARY companies. These subsidiaries can be in different countries
and are the guys who produce and distribute the drinks. However, the role of the Holding Company is,
mainly, to manage the property of these other subsidiary companies. OK… so this 1929 law offered smoking good
tax conditions to those holdings. Basically, they paid around 1% tax. These were the 30s. Back then, there weren’t as many holdings
as there are today. Just remember that those were the years when
COCA-COLA was starting to expand to other markets. But they were not the giant they are today. In other words… Luxembourg was growing… but not much more
than other countries. LUXEMBOURG vs USA CHART 60-70s Nonetheless, the 70s were the times where
American companies conquered the European and Asian markets that, finally, had more
money to spend on consumer goods. During these years, many of the big corporations
we know today were born. In other words… a lot of holdings sprang
up. And their profit came from all around the
planet. So where did they go to set up their headquarters? Well… since they could choose, they went
to the places with the best fiscal conditions. And Luxembourg had everything they wanted
and more. You see, by the 60s and the 70s, the country
already had a big banking industry. The best lawyers, accountants and economists
were living there, ready to help those big companies in order to take the biggest advantage
of those business-friendly laws. And this is how this little country got into
their SILVER decade. LUXEMBOURG vs USA CHART 80-80s Yep, believe what you see… the economy of
Luxembourg became two times bigger in less than 6 years. Compared to this, China or Singapore’s growth
rate is a joke. And yes, you heard that right… I said the ‘SILVER DECADE’ because all
of this growth was nothing compared with what came after. Think about it, we are already talking about
the 2000s. The time of the online business boom. These brand new corporate juggernauts operated
all over the world, had dozens of subsidiary companies in every country and they were not
based in any specific territory because they sold everywhere. In other words… the technological companies
were made to love Luxembourg. So… if you thought a country that was already
astoundingly rich, couldn’t grow more… well… think twice. LUXEMBOURG vs USA CHART 2000s Amazing, isn’t it? I don’t know if you noticed this but…
in just 5 years, Luxembourg’s GDP per capita went from 50,000 USD, which is already a lot,
to over 100,000 USD. When you live in a country with a GDP per
capita of over 100,000 USD… well… you can fill your swimming pool with Champaign. *HERE YOU CAN PUT ANY FUNNY EXAGERATION TO
EXPRESS HOW RICH YOU ARE* In fact, the AUDI a3 is the 3rd best selling
car in Luxembourg. And yes, I know what you are thinking! You think that this country has made its fortune
by helping companies avoid paying their taxes, right? Well… the answer is a little bit more complex
than this. You see, the fact that a Holding corporation
is located in Luxembourg does not mean its subsidiary companies don’t pay taxes elsewhere. For instance, AMAZON has its headquarters
in Luxembourg. Nonetheless, its British subsidiary, that
is, the company that sells products and manages logistics in this country, has to pay their
taxes in the UK. Or… at least, this is the theory. In fact, the reality is way different… LUXLEAKS Let’s get back to the AMAZON example. As we said, the profits of its British subsidiary
are taxed in UK, right? Well… but what happens if they have no profits
whatsoever? Imagine that, right after they pay taxes,
Amazon UK gets a big loan: a big loan with a really high interest rate, so high that
the company takes losses. And who lends that money? Exactly! AMAZON HOLDINGS in Luxembourg. This way, the subsidiary companies have almost
no profits. One way or another, they manage to send their
Money to the Luxembourgish branch. And, as we said before, in Luxembourg, taxes
are really low for companies. Of course, all of this is perfectly legal. But in 2009, during the big financial crisis,
the American government realized this huge amount of money they were losing with all
of these big companies moving overseas. Since then, other governments have followed
Obama’s steps. Don’t forget Luxembourg is one of the European
Union’s founding members. This means the other club members were angry
and willing to lay on a lot of political pressure. But the biggest crisis in this country came
in the year 2014. This was the time when a group of accountants
released lots of private data from big corporations. Thanks to the so-called LUX LEAKS, we could
all see those tax evasion strategies made by thousands of companies. Do you remember what I told you about loans
between different subsidiary companies within a holding? Well… here is another way of improving the
deal. You see… all these big companies hire big
consulting firms so they can help them with their accounting. Consulting firms like PRICE WATERHOUSE COOPERS
with a big customer portfolio in Luxembourg. They had enough power to sit down with the,
back then, Prime Minister, Jean-Claude JUNCKER and arrange a special tax deal. “Juncker in spotlight after Luxembourg tax
revelations” The leaked documents demonstrate tax arrangements
negotiated by PricewaterhouseCoopers As you can imagine, the release of the LuxLeaks
is a total game-changer. In fact, this year, 2017, Luxembourg has passed
a brand new fiscal reform. And, probably, many of these arrangements
will have to change. But wait a minute because this does not mean
Luxembourg is going to stop being rich! In fact, the opposite is true. Actually, despite these political turbulences,
the country grew at a 4.2% rate last year. This is way faster than almost any other country
in Europe. Having so much savings, Luxembourg has invested
in many other industries. Of course, they have the steel, the banks
and… THE SPACE! “Luxembourg’s Bet On Space Industry Shows
Early Signs Of Success” You heard that right. In fact, Luxembourg and the United States
are the first countries to pass laws regulating Space mining. And this tiny country is expected to become
the Silicon Valley of the Aerospace industry. This explains, partly, some of the details
of this 2017 fiscal reform! Of course, the Government of Luxembourg doesn’t
want to keep helping big corporations avoid taxes. At least, this is what they say officially. Instead, they have reduced taxes for smaller
companies, and are actively trying to improve conditions in order to encourage more tech
startups.But… we will talk about this in another video. Now the question for you is… Do you think we will see another time of skyrocketing
growth in Luxembourg’s economy? Will this country become the World’s leader
in the Aerospace industry? Please, leave your answer in the comment section
below. Meanwhile, if you want to know more about
another super wealthy country, click here to check out this video about QATAR. And also visit RECONSIDER MEDIA.COM, the podcast
that provided the vocals in this video that are not mine. And don’t forget that we publish brand new
videos every week so hit that subscribe button. If you liked this video, give us a thumbs
up and, as always, I’ll see you next time.

100 Comments

  • Reply Pippie5555 January 15, 2019 at 5:29 am

    So how many ILLEGAL immigrants does Luxemburg have?

  • Reply Tao Zam January 16, 2019 at 11:01 pm

    Shittiest soundtracks ever! Good video otherwise though!

  • Reply Bill d January 17, 2019 at 7:18 am

    How many synagogues? How many African immigrants?

  • Reply Derek Inniss January 20, 2019 at 8:39 pm

    Great info.

  • Reply fingerhorn4 January 24, 2019 at 10:31 pm

    For those claiming that Luxembourg real individual wealth is low because of high rents and taxes, that is partly true, but this is also offset by four factors. It has possibly the best free health system in Europe, and very high quality (and free) primary, secondary and most tertiary education. University fees are a fraction of for example the UK's and many University courses are either free or relatively very cheap. Luxembourg has one of the lowest crime rates in the world and is 11th in the world for life expectancy. So there are many advantages despite the cost of living being high. The problem here, as with many European countries, is that the wealth divide between the average salary earner and the super rich is very large. Nearly a quarter of all Luxembourg households are lived in by millionaires and while it has a relatively low number of billionaires, the rich/poor divide is significant because of the high cost of basic living, including food, clothes, transport and rent which adversely affects even middle wage earners but is insignificant to the 22.5% who are very rich.

    While corruption within Luxembourg is reported as being low, that completely discounts the low tax regime which itself is fundamentally corrupt even though technically "legal". As this video states, it enables extremely wealthy corporations to funnel income into Luxembourg at spectacularly low rates of corporation tax, while their creative accounting still enables almost tax free income in countries where they operate. So Luxembourg gives the EU a very bad name, while the media and common perception is that Greece, Italy, Spain etc are the villains. But they don't hold a candle to the immense wealth that Luxembourg syphons off for itself.

  • Reply leo ali January 28, 2019 at 3:50 am

    You for got Slavery! why would you leave that out.

  • Reply sarah June January 28, 2019 at 6:42 pm

    The music put me off. Love your content.

  • Reply Bengt Eklund January 30, 2019 at 7:57 am

    Junker was suggested of the biggest group in the EU-parliamet to be the chairman of the commission. The parliament is choosen by the voter in every European country. So I suggest that you all vote in May, when a new parliament i elected. I hope we press for a more democratic way of electing "topmanagers" in EU.

  • Reply World123 CC January 31, 2019 at 3:29 am

    🌏🌎🌍😎😎😎

  • Reply World123 CC January 31, 2019 at 3:39 am

    WCC

  • Reply Perseus ius February 1, 2019 at 5:11 pm

    0:10 he is not the most famous one we ever had. Jean-Claude junker is the best one in my opinion

  • Reply damen whelan February 3, 2019 at 7:19 pm

    Ireland is a place Simon.

  • Reply damen whelan February 3, 2019 at 7:20 pm

    Ireland has an openly gay head of government.
    You call "prime minister".

  • Reply John Miranda February 8, 2019 at 7:51 pm

    DIFFERENT MUSIC – LESS DISSONANT please

  • Reply build a dyson sphere now! February 10, 2019 at 9:33 am

    you are wrong. trump and the united states of shit are also gay.

  • Reply Al Ex February 15, 2019 at 9:34 am

    Isn‘t Switzerland richer?

  • Reply Clarice Xalxo February 16, 2019 at 4:49 pm

    very good 👏 video

  • Reply Never Mind February 17, 2019 at 9:59 am

    Openly gay…??? so it mean they are free to give blow job in public :??? or are they also allowed to jerk their dick off in front of a cop : ??? : is Marxist Socialist Macron, Trudeau and Left Wing Albino Obama also openly Gay…??? : them aliens will be very surprise if they found out that the planet they have colonized is now the Gay Capital of Universe…rainbow v

  • Reply Ian Martin February 17, 2019 at 9:58 pm

    Luxembourg public transport is all totally free. Also no mention of Radio Luxembourg from 60s and 70s, pioneer of pirate radio

  • Reply Joseph Stokes February 26, 2019 at 6:26 pm

    Dude! Someone has hacked into your video and put in horrible, loud, intrusive shit music! Sorry about that and deal with them severely!

  • Reply drshoexu February 28, 2019 at 4:51 am

    Mindgeek is based in Luxembourg. My favourite company.

  • Reply Marc Liuzza March 2, 2019 at 5:03 pm

    DID YOU KNOW THAT THE BIBLE SAYS THAT IT'S NOT OK TO BE GAY? IT'S A SIN TO ACT GAY. HOMOSEXUALITY IS VILE.

  • Reply Daan van Dalen March 3, 2019 at 12:01 am

    You showed jardin du luxembourg in Paris, that is not luxembourg

  • Reply Dongseong Hwang March 5, 2019 at 5:13 am

    Shameful parasite hidden behind safe Europe security

  • Reply Alex Gia March 9, 2019 at 2:05 pm

    By "immigrants" he means rich foreign investors. Usually from within the EU. Not just anyone.

    I know because my fiance has family there.

  • Reply James River March 11, 2019 at 8:31 am

    I bet they did not take 3th world war criminals as refugees?

  • Reply MOMO RAYO March 11, 2019 at 9:24 pm

    that intro never gets old

  • Reply Max Ant March 13, 2019 at 3:37 pm

    8:38 and what so special about Audi A3 ?

  • Reply Vinay Martin March 14, 2019 at 1:49 pm

    Looks like your video clips of the place Lux were shot on the 5 days there was sun here!

  • Reply Paulo Oliveira March 15, 2019 at 12:34 pm

    Do you think that the policy on gas and tabaco cheap prices does not have enough impact to be on the video?

  • Reply a .a March 15, 2019 at 7:58 pm

    Only country in the world where their prime minister is openly gay? Well in Moldova the president is gay we call him "Pidar".

  • Reply Mr.dubby duck March 17, 2019 at 1:07 pm

    Just to help 2000 euros equals 2,268.90 US dollars or 1,703.64 pounds

  • Reply Matthew Melange March 18, 2019 at 2:23 pm

    I'd love to see a version of this video where he doesn't quick zoom to his face mid-sentence

  • Reply Matthew Melange March 18, 2019 at 2:29 pm

    6:29 your y axis has no information. HahahaHahaha

    Are these numbers or percentages you want to show?

  • Reply Omar Sharif March 19, 2019 at 7:48 pm

    Qatar is the richest country on the world

  • Reply téMéRaiRe marketing Luxembourg March 21, 2019 at 3:19 am

    🇱🇺🙂

  • Reply Sanja Đorđević March 26, 2019 at 8:58 am

    Serbia too have openly gay prime minister. She now haves a son.

  • Reply Change Seeker March 27, 2019 at 1:08 pm

    4:36 Lakshmi Mittal (steel tycoon) spotted 💪💪🇮🇳🇮🇳

  • Reply Marius Bubutanu March 31, 2019 at 5:24 pm

    BUBUTANU Marius intr-dradevar Luxembourg si Elvetia si Monaco intr-dradevar suntetii tari de Hotii si Pirating Va Supara Adevarul Spanzurati-va MAFIA Monaco ADEVARAT REALLY ???????????????

  • Reply Marius Bubutanu March 31, 2019 at 5:26 pm

    Beaucoup pedofiliii la Luxembourg

  • Reply Marius Bubutanu March 31, 2019 at 5:27 pm

    Beaucoup pedofiliii la Luxembourg Gay Bisexual beaucoup MAFIA POLITIK

  • Reply Marius Bubutanu March 31, 2019 at 5:30 pm

    Yes MAFIA LUXEMBOURG

  • Reply OSRS Top April 4, 2019 at 2:26 am

    These war mongering countries don't deserve tax revenue anyway.

  • Reply DP ie April 10, 2019 at 7:13 am

    Its spelled: "tax-doging"

  • Reply Rory Lenihan April 11, 2019 at 8:51 pm

    Leo varadkar is also gay and an immigrant

  • Reply Michael Ktona April 11, 2019 at 11:27 pm

    Label People what a joke be who you are the heck with the rest! Live your own life!

  • Reply D Man April 17, 2019 at 4:13 pm

    I don't believe in taxing big corporations. They pay people who are then taxed, or buy things so the money flows back into the world, tourism and retail, more jobs. It's just a pity ordinary people get taxed so much, everything and everyone should just be flat taxed at 10% , when is tax counter productive ? When there is too much tax, I don't get angry about low tax rates, I'm angry that I can't be in la ower tax rate too as a worker. Workers face over 50% tax if they start to make more money which is just counter productive, it punishes success

  • Reply Unknown Soldier April 17, 2019 at 5:08 pm

    Luxembourg is more like Qatar of Europe

  • Reply uberpaulywauly April 20, 2019 at 6:34 pm

    Ireland's leader is also openly gay.

  • Reply PathisNarrow April 21, 2019 at 12:32 pm

    what do you mean rich? it has the huges debt per capial every and could ever exists. its the brokests……

  • Reply Madi Sampi April 27, 2019 at 1:00 pm

    Luxurious Burg?

  • Reply Paul Bellew April 27, 2019 at 6:14 pm

    price waterhouse cooper have their greedy little hands in everything in ireland in a governmental sense ?

  • Reply blag6666 April 30, 2019 at 1:50 pm

    Luxemburg is a whore country.

  • Reply FriponTv April 30, 2019 at 11:09 pm

    So funny when you watch a video about your country, well anyways its so goood to live here. Oh and btw, yes we have our own language :p

  • Reply Bazil Bazil May 1, 2019 at 9:55 pm

    Because of Juencker?!! He took all money from East Europe and brought it to Luxemburg!?!

  • Reply Bazil Bazil May 1, 2019 at 9:56 pm

    The quality of life is not better than in Germany, but better then France and Belgie…

  • Reply Rotulino Rolon May 4, 2019 at 2:14 pm

    Luxembourg sounds like luxurious

  • Reply Sherwin Buydens May 12, 2019 at 2:30 pm

    So, the place to work is Luxembourg, and then you reside in say Belgium, France or Germany, depending on their taxes? It sounds like Germany would be the big winner.

  • Reply saket bhojane May 19, 2019 at 8:06 pm

    They ran out of Iron in 1980s bro… Luxembourg is no more dependant on Iron industry.

  • Reply JzarTrinity May 20, 2019 at 1:56 am

    Luxembourg= luxery

  • Reply Paolo Santos May 23, 2019 at 6:32 pm

    good intro haha.

  • Reply Hass An May 27, 2019 at 5:37 pm

    who tf gives a damn if a PM is gay? obviously this whole community…

  • Reply Mr Cruzih2000 May 29, 2019 at 4:13 pm

    Dubai is better

  • Reply sudeep Gurung May 29, 2019 at 6:17 pm

    You really make everything so interesting. Kudos to you for making us wiser. Keep it up

  • Reply just me May 30, 2019 at 2:52 am

    Jóhanna Sigurðardóttir became the world's first openly gay prime minister in 2009

  • Reply NoOB Plays May 30, 2019 at 1:20 pm

    So Louxemburg is so rich because it "steals" other countrys taxes… Wow what a genius economic strategy…

  • Reply Tomás Nunes May 31, 2019 at 11:26 am

    Malta is the smallest country in the EU

  • Reply GafanhotoGamer June 2, 2019 at 5:16 pm

    Let's hope it grows after I go to university there 😂🎓

  • Reply Bill Suree June 13, 2019 at 12:50 pm

    Very video I’m moving there right now

  • Reply alanski2005 June 23, 2019 at 11:44 pm

    This presenter is so irritating… and the music sucks.

  • Reply LAWS OF UNIVERSITIES July 1, 2019 at 3:57 pm

    im so glad i subscribed to this channel

  • Reply Rocky July 1, 2019 at 7:10 pm

    There is also lots of money laundering going on in Luxembourg

  • Reply Clement Philippe July 2, 2019 at 3:13 pm

    In 1942 Luxembourg was a Gau of the 3. Reich. The Zollverein was 100 years earlier.

  • Reply Hella Boumakhla July 3, 2019 at 11:07 am

    Why is this legal ?

  • Reply No problem just bully it July 3, 2019 at 11:41 am

    My parents are americans but they moved to Luxembourg
    I was born Luxembourg and grew up in Luxembourg

  • Reply a bc July 4, 2019 at 1:13 am

    Et gëtt kee Gott awer Allah, Muhammad ass de Messenger vu Allah

  • Reply Zeno D July 7, 2019 at 3:05 pm

    Unpleasant people and country. Nothing to see or do there. Money isn't everything.

  • Reply Tom Zeimet July 12, 2019 at 9:20 pm

    Hi from Luxembourg. The GDP per capita is misleading because a lot of people come from the neighbouring countries to work, but they are not counted towards the population, therefore the GDP per capita is high. The average salary is a lot lower than Switzerland. Also because revenue from companies is accounted for in Luxembourg but not actually made in Luxembourg it skews the GDP per capita, same with Malta, Ireland etc. https://en.m.wikipedia.org/wiki/List_of_European_countries_by_average_wage

  • Reply David McQuire July 15, 2019 at 8:06 pm

    well regardless make this calculation . A small flat studio (45 SM ) goes for around 0.5M Euro and a house around 1.0M Euro , no pools , no Jacuzzi 🙁 So if I take a loan for 30 years and earn 2K Euro per month gross what is the cost of the monthly mortgage ?

  • Reply atomiswave1971 July 16, 2019 at 2:24 pm

    Everything in this video is absolutely disgusting. Humanity at its absolute worst level. The UK's longest standing brands and shops are going out if business because of this place and nobody is doing anything productive about it. Shocking.

  • Reply Steve 1000000 July 17, 2019 at 3:58 pm

    Spoiler alert:

    It's in Western Europe

  • Reply Dimitris Papadi July 17, 2019 at 9:00 pm

    Quite accurate except those pictures from the Gardens of Luxembourg, which are actually in Paris.

  • Reply X Gamer 2016 July 19, 2019 at 9:30 pm

    Luxembourg 🇱🇺

  • Reply Balázs Sebestyén July 25, 2019 at 9:19 pm

    1. You explained the extremely high GDP per capita in the first few minutes: Half of the workforce doesn't live in Luxembourg, so we should divide the GDP/capita by two to get a realistic number, which reflects the development of the economy. And if we do that, we get back the GDP/capita of Germany or Sweden. So, Luxembourg is one of the most developed countries in the EU, but not more developed than Germany, Netherlands or Scandinavia, and surely not twice as much.

    2. You forgot to mention Luxembourg's real economic advantage: multilingualism. To graduate from high school you have to speak the three official languages: Luxembourgish, French, and German. They sit in the middle of the block of German/French-speaking countries with a total population of cc. 170 million. All of them can make business in Luxembourg in their own mother tongue. This is why Luxembourg is a business center, but Malta, Cyprus, and other tax havens are not.

    3. Regarding the salaries and quality of life: the average salary for a software engineer is almost exactly the same as in Germany (cc. 55000 EUR/year). But a high school teacher earns around 75000 EUR/year. In general, public servants and financial workers earn pretty well, but the others earn around the German average. The price level is 30% higher than in Germany, so if you spend all your money in Luxembourg, your purchase power can be lower than the German.

    4. I'm a software developer from Hungary living in Luxembourg. When my friends ask where I live and work, and I tell them: Luxembourg, they are surprised and enthusiastic: Oh, you must be very rich! Ehm, not so much. My financials are better, but if I spent all my money here, my purchasing power would be exactly the same as it used to be in Budapest, in the barbarian East. Although, Luxembourg is a nice and liveable country, but not because of the money.

  • Reply IRoXXI July 27, 2019 at 3:50 am

    Correction: 3:40 Luxemburg became a member of the German "Zollverein" in 1842

  • Reply cabete19jo July 27, 2019 at 7:53 am

    living between germany and france has his advantage. oof

  • Reply Jimin‘s Jams July 30, 2019 at 1:59 pm

    The language is super easy tho, like so easy… I’m gonna say”what’s your favorite music genre?” “Wat as Deng lieblings music genre?” Lol it’s that easy, i know that bc i live in Luxemburg 🇱🇺

  • Reply someone no one July 30, 2019 at 5:37 pm

    So basically Capitalism

  • Reply Gilles E August 1, 2019 at 3:53 am

    Please also tell the people that a 60m2 Appartment in the city can cost you up to 800000 euro and I'm talking small shitty appartment, you can't affort that with 5000 euro a mounth trust me…

  • Reply Bosnian Anonymous August 3, 2019 at 4:27 pm

    Make video for Bosnia and Herzegovina 🇧🇦

  • Reply Martin Bennett August 8, 2019 at 12:08 pm

    A key factor you barely touch on is immigration a result of which is that Luxembourg has the most advantageous are dependency ratio of the European Union. This is excellent for older people and social welfare in Luxembourg generally. The massive rate of growth is palpable with new buildings, huge towers full of offices springing up continuously. Perhaps Brexit is another stimulus for relocations.

  • Reply Roman Soiko August 8, 2019 at 5:39 pm

    Luxembourg est tres riches luxembourg is die rechtenland

  • Reply Marques Paquete Tiago August 11, 2019 at 12:07 am

    There are two types of salaries in Luxembourg, the first one is the Qualified salary (+/-2000) and the other one is the Unqualified salary (+/-1600) but good luck surviving in Luxembourg where an one room appartment doesn't cost less than 300000€ (and that NOT in the centre)
    You people just make videos from what you read and hear
    Some things r right but u r far away from the truth

  • Reply ٍScience is the best! August 11, 2019 at 2:29 am

    Liechtenstein is much richer! Hope to make a video about it.

  • Reply Billy Bob John August 11, 2019 at 6:23 pm

    Luxembourg has a history rich in mining, nothing more natural than willing to carry on with that tradition in space.

  • Reply luis marques August 11, 2019 at 6:56 pm

    In other words Luxembourg is dumping other countries…taxing less than 1%…. F#$&%$%) Bastards

  • Reply Wolfgang Kohn August 12, 2019 at 2:01 pm

    I am a German and I have ancestries from Luxembourg and I have the right to get a passport of Luxembourg and I'm really thinking about if I should do it

  • Reply mukashibanashi123 August 12, 2019 at 4:37 pm

    There are the wealthy, the rich (way above 3500 Euro/month), then …there are us,the medium class and there's a large gap in between each. Of course,we also got homeless people here … unfortunately for them. 🙁

  • Reply Ludig Olivier August 12, 2019 at 6:44 pm

    I live in Luxembourg and I am not a millionnaire, neither do I bathe in champagne. We Luxembourgish citizens pay taxes, a lot, living in Luxembourg is very expensive, basic foods are about 20-50% over our neighbours prices. Housing is also very expensive(400-600k Eur for appartments and over 1 million Eur for a house) and lots of young people cannot afford to live in Luxembourg anymore. But that are untold stories

  • Reply Céline Anne-Sophie Molitor August 13, 2019 at 9:38 pm

    Anyone else from Luxembourg here? 😀

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