Luxembourg’s residential and business broadband segment continues to be dominated by the incumbent POST Luxembourg despite market liberalisation in 1998. Regulatory measures during the last years have stimulated broadband competition through local loop unbundling, yet the proportion of unbundled lines still remains relatively low. In April 2015, the Belgian and Luxembourg telecom regulators announced an agreement to create a more unified telecoms market. Mobile operators will be able to offer consumers in Belgium and Luxembourg the chance to call, text and surf at their usual national rate in both countries, effectively removing roaming charges. The move towards a more unified telecoms market in the BeLux region will undoubtedly be closely monitored by regulators and mobile operators alike, as it provides a testing ground for the removal of roaming charges at EU level.
Luxembourg has a small, stable, high-income economy has historically featured solid growth, low inflation, and low unemployment. The industrial sector, initially dominated by steel, has become increasingly diversified to include chemicals, machinery and equipment, rubber, automotive components, and other products. The financial sector, which accounts for about 36% of GDP, is the leading sector in the economy. The economy depends on foreign and cross-border workers for about 39% of its labor force. Luxembourg experienced economic turmoil in the aftermath of the global economic crisis that began in late 2008, but recovered in 2014. Unemployment has steadily remained below the EU average. The country continues to enjoy an extraordinarily high standard of living, with a GDP per capita that ranks among the highest in the world and is the highest in the euro zone.