Luxembourg is the highest paid country in the world (Image: Getty)
Just an hours flight away from the UK you’ll find yourself in the .
is located between Belgium, and France, It may be one of the smallest countries, but that doesn’t stop people their earning top dollar (or euro).
The average person earns around £70,000 according to the Organisation for Economic Co-operation and Development. As a result, the country not only has the in Europe, but the highest in the entire world.
But why are people in Luxembourg so well paid?
Luxembourg has a highly propserous enconomy which is mainly driven by its finance, international and the information technology industries – sectors where the average salaries tend to be higher.
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Luxembourg’s economy is mainly driven by the finance sector (Image: Getty)
The financial sector makes up one-third of the country’s GDP economy which is a large portion. Many factors including political stabliltiy, good communication, easy access to other European centres and skilled multilingual employees, have contributed to the growth of the sector over the years.
Whether people work in those sectors or not, bonuses, benefits and additional compensation packages are quite common across Luxembourg’s labour market which would also contibute to the average monthly salary.
However, high wages also means high prices, so while the average earnings for Luxembourg’s labour market of 515,000 people may sound nice, living in the country isn’t cheap.
According to , Luxembourg’s prices are 52% higher than the EU average, making it the country with the highest prices in the EU.
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Luxembourg has an extremely high living standard (Image: Getty)
The country’s monthly is also far up the list of the most expensive in the world. The webiste places it at number 11, with an average monthly living cost of $2,200 (£1856.25).
Though the country is recognised for having a high standard of living, good social care and welfare systems, which contributes to the expensive living cost.
It also has excellent infrastructure, including travel connections and on top of that all public transport in the country is actually free which definitely makes the commute to work better.