Luxembourgers have chosen the economic outlook for the country

In December 2022, Luxembourg Stratégie launched a campaign in which everyone was able to vote for three possible options for the development of the country by 2050. More than 600,000 questionnaires were received, and more than 60 people were able to discuss the prospects in person with the Minister of Economy Franz Fayot.

The most realistic scenarios seemed to be the first and the third with 30% of the votes each. The first scenario assumes a population of 1.1 million people and a strong attraction of skilled professionals from abroad. The third — is a population of 1.2 million people and emphasized technological efficiency and progress.

The second scenario seemed the most unrealistic (14% of votes) for people. It assumes that the population would stop growing as soon as it reached 770 thousand, yet the pressure on the housing and transport sectors would decrease because of the stagnating economy.

Nonetheless, the second scenario appears to be the most desirable for respondents: 71% believe this is the ideal scenario in 2050. Another 19% believe that technological progress is also quite reasonable. The smallest number of people voted for the status quo, like maintaining the current state of affairs.

The main threats to the economy are seen in poverty and the inability to cope with environmental disturbances. Respondents also expressed more down-to-earth fears, such as a shortage of food or the need to leave Luxembourg.