Luxembourg ranked 3rd best talent centre in the world
The IMD 2024 World Talent Ranking assesses how economies around the world are maintaining a talent pool*. Compared to last year, Luxembourg has dropped one line leaving the second place to Singapore. While Switzerland has held the top spot since the ranking was created in 2014.
In 2024, the top 10 most competitive countries in terms of human resources are:
- Switzerland 🥇
- Singapore 🥈
- Luxembourg 🥉
- Sweden
- Denmark
- Iceland
- Norway
- Netherlands
- Hong Kong
- Austria
Luxembourg's neighbours were less competitive in terms of maintaining a talent pool. According to the IMD 2024 World Talent Ranking, Belgium ranked 12th, Germany 15th and France 24th.
Notably, the Grand Duchy has held a consistently high position for the past 5 years when assessing the country's potential as a centre of talent in the world. Like this year, the country ranked 3rd in 2020 and 2021, 2nd in 2023, and only dropped to 7th in the top 10 in 2022.
*The IMD 2024 World Talent Ranking takes into account three factors:
- Investing in domestic talent
Tracking a) the amount of public investment in education and b) the quality of education
- Attractiveness of the country for talents
Not only the potential of the local labour force is assessed, but also the country's ability to attract a foreign talent pool based, among other things, on such parameters as quality of life and cost of living
- Availability of sufficient skills and competences in the talent pool
The growth of the labour force, the quality of the skills available to it, its education, and the experience and competencies of the existing pool of top managers all affect a country's valuation.
However labour and productivity measures are not included in the assessment as the creators consider this to be a minor factor compared to the above. Labour and productivity measures are not included in the assessment as the creators consider this to be a minor factor compared to the above;
