Yves Maas

Despite a Brexit-inspired influx of banks to Luxembourg, the number of banks active in the country is dwindling. At the same time however, many of the remaining banks keep growing their revenue thanks to an increasing focus on ultra-high net worth individuals (UNHWI’s). But this success comes with a price.

Luxembourg’s recruiters have spoken about a war for talent for decades. Higher pay is the main attraction of the Grand Duchy for foreign workers, but housing costs and traffic congestion are growing out of hand. Is the country starting to lose the fight?