45 million euro cash boost for Luxembourg Tourism sector

Luxembourg is to invest 45 million euros in tourism during the next five years in a bid to become more competitive and offer more jobs in this sector.

Tourism Minister Françoise Hetto-Gaasch outlined the five-year plan in a speech marking the opening of the Vakanzfoire at Luxexpo on Friday.

Ms Hetto-Gaasch stressed that tourism was a key pillar of the Luxembourg economy, citing that the country was currently ranked 15 out of 139 countries in the Travel & Tourism Competitiveness Report of the World Economic Forum.

The importance of tourism to Luxembourg has been growing steadily, she said, with an annual growth in international arrivals of 3.5 percent since 1990. In 2011 it was estimated that tourism contributed to 5.7 percent of Luxembourg GDP directly and indirectly, meanwhile the sector is responsible for 7.6 percent of jobs (the equivalent of 17,500).

With this in mind, the minister hopes to strengthen the country's position as a tourism destination of quality and at the same time diversify the country's economy and development.

“Its importance and potential is evident and the Grand Duchy must continue its efforts to develop and make it an even more important economic pillar,” she said.

According to the minister, as part of this strategy, the government has substantially increased funding for the National Tourism Office for 2013.

Concluding the minister called on stakeholders in the tourism sector to “evolve, improve and be responsive to customer expectations,” in order to improve its competitiveness.