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Luxembourg vs Grenada (Standard of Living)

Published: Monday, 21th October 2024

Recently Updated: Sunday, 12th January 2025

The Standard of living in Luxembourg is 2.96 times better as compared to Grenada.

In this page, you will find side-by-side Standard of Living comparison between Luxembourg and Grenada. We have created 53 standard-of-living indicators. We average the values and ranges of all those indicators and take a mathematically calculated approach to determine which country has a better standard of living between Luxembourg and Grenada.

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Economic Factors Comparison

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Indicators
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Pictorial representation of map of luxembourg
Luxembourg
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Pictorial representation of map of grenada
Grenada
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Gross Domestic Product (GDP)(2023)
Image representing the total Gross Domestic Product of any specific country
$89.095 billion USD$1.3 billion USD
GDP Per Capita
(2023)
Image representing the total Gross Domestic Product Per Capita of any specific country
135,605 USD11,437 USD
GINI Ratio
(2023)
Image representing the total GINI Ratio or GINI Coefficient of any specific country
0.300.39
Inflation on Consumer Prices
(2023)
Image representing the Percentage of Inflation on consumer prices of any specific country
3.74 % annually2.7 % annually
Central Government Debt
(2023)
Image representing the Central Government Debt of any specific country
2.9 % of GDPYet to Update
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Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.


As per the statistics from the World Bank Data for the year 2023, the total GDP of Luxembourg is $89.095 billion USD and that of Grenada is $1.3 billion USD.


On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.


From the above data, we can say that a person living and working in Luxembourg contributes more to the country's economy compared to a person working in Grenada.

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Image representing an indicator
Indicators
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Pictorial representation of map of luxembourg
Luxembourg
Image illustrating the flag of luxembourg
Pictorial representation of map of grenada
Grenada
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Human Development Index (HDI) (2024)
Image representing the Human Development Index of any specific country
0.9270.793
Human Capital Index (HCI) (2024)
Image representing the Human Capital Index of any specific country
0.690.57
Literacy Rate
(2023)
Image representing the Literacy Rate of any specific country
100% (15 years+ above age)98.4% (15 years+ above age)
Life Expectancy Ratio
(2023)
Image representation of Life Expectancy Ratio any given country
82.8 years72.8 years
Healthy Life Expectancy Ratio
(2023)
Image representation of Healthy Life Expectancy Ratio any given country
71.2 years63.2 years
Poverty Ratio
(2023)
Image representing the Poverty Rate of any specific country
17.3% of total Population25% of total Population
Unemployment Rate
(2023)
Image representing the Unemployment Rate of any specific country
5.19% of total labor forceYet to Update

The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living.


From the above given statistics, we can see that the HDI of Luxembourg is [ 0.927 ] and the HDI of Grenada is [ 0.793 ].

The data shows that the people living in Luxembourg has better income, life expectancy and education level compared to Grenada.

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Government National Expenditure Comparison

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Indicators
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Pictorial representation of map of luxembourg
Luxembourg
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Pictorial representation of map of grenada
Grenada
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Gross National Expenditure
(2023)
Image representing the total Gross National Expenditure of any specific country
69.16 % of GDPYet to Update
Total Health Expenditure
(2023)
Image representation of total Health Expenditure of any given country
5.67 % of GDP5.7 % of GDP
Research and Development Expenditure (2023)
Image representing the Government Expenditure of any specific country
1.04 % of GDPYet to Update
Government Expenditure on Education (2023)
Image representing the Government Expenditure of any specific country
4.7 % of GDP3.93 % of GDP
International Tourism Expenditure (2023)
Image representing the International Tourism Expenditure of any specific country
2,458 million USD12 million USD
Number of International Tourists Arrivals (2023)
Image representing the Number of International Tourists Arrival in any specific country
525,000217,000
Military Expenditure
(2023)
Image representing the Military Expenditure of any specific country
0.7 % of GDPYet to Update
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Health System Facilities Comparison

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Indicators
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Pictorial representation of map of luxembourg
Luxembourg
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Pictorial representation of map of grenada
Grenada
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Number of Doctors
(2023)
Visual representation of number of Doctors in any specific country
29.85
(Per 10,000 People)
13.14
(Per 10,000 People)
Number of Nurses
(2023)
Visual representation of number of Nurses in any specific country
120.8
(Per 10,000 People)
57.5
(Per 10,000 People)
Number of Pharmacists
(2023)
Visual representation of number of Pharmacists in any specific country
6.98
(Per 10,000 People)
6.25
(Per 10,000 People)
Available Hospital Beds
(2023)
Visual representation of Available Hospital Beds in any specific country
4.26
(Per 1000 People)
3.57
(Per 1000 People)
Pregnant Women Receiving Prenatal Care (2023)
Visual representation of Pregnant Women Receiving Prenatal Care in any specific country
Yet to Update100 % of total Population

Luxembourg has 2.27 times more Doctors compared to Grenada (Per 10,000 People).

Luxembourg has 2.10 times more Nurses compared to Grenada (Per 10,000 People).

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Environmental Factors Comparison

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Indicators
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Pictorial representation of map of luxembourg
Luxembourg
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Pictorial representation of map of grenada
Grenada
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Agricultural Land
(2023)
Image Depicting the total Agricultural Land available in any specific country
1,328.11 Sq Km80 Sq Km
Forest Area
(2023)
Image Depicting the total Forest Area available in any specific country
887 Sq Km177 Sq Km
CO2 Emissions
(2023)
Image Depicting the total CO2 Emissions from any specific country
0.1 kg per PPP $ of GDP0.19 kg per PPP $ of GDP
Access to Electricity
(2023)
Image Depicting the access of electricity in any specific country
100 % of total Population94.2 % of total Population
Access to Internet
(2023)
Image Depicting the access of internet in any specific country
98.24 % of total Population77.77 % of total Population
Annual Fresh Water Withdrawals (2023)
Image Depicting the annual freshwater withdrawals from any specific country
0.05 Billion cubic meters0.01 Billion cubic meters

100% of the total Population of Luxembourg has access to the electricity in their homes, whereas, in case of Grenada, 94.2% of the total Population has access to electricity.

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Business Registration Comparison

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Indicators
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Pictorial representation of map of luxembourg
Luxembourg
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Pictorial representation of map of grenada
Grenada
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Time Required to Start a Business (2023)
Image representing Time Required to Start a Business
16.5 Days12 Days
New Businesses Registered (2023)
Image representing New Businesses Registered
8,506 (New Businesses)217 (New Businesses)
New Businesses Registration Density (2023)
Image representing New Businesses Registration Density
18.9 (Per 1000 People)2.65 (Per 1000 People)
Cost of Business Start-Up Procedures (2023)
Image representing Cost of Business Start-Up Procedures
1.6 % of GNI Per Capita14.4 % of GNI Per Capita

In the year 2023, 8,506 new businesses got registered in Luxembourg and 217 new businesses got registered in Grenada.

It usually takes 16.5 days in Luxembourg and 12 days in Grenada to register a new business legally and systematically.

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Import & Export Factors Comparison

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Indicators
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Pictorial representation of map of luxembourg
Luxembourg
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Pictorial representation of map of grenada
Grenada
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Imports of Goods and Services (2023)
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181.69 % of GDPYet to Update
Total Fuel Imports
(2023)
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7.19 % of Merchandise Imports17.62 % of Merchandise Imports
Cost to Import Border Compliance (2023)
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Yet to Update1,256 USD
Time to Import Border Compliance (2023)
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Yet to Update37.33 Hours
Cost to Import Documentary Compliance (2023)
Image representing Cost to Import documentary Compliance
Yet to Update50 USD
Time to Import Documentary Compliance (2023)
Image representing Time to Import Documentary Compliance
0.5 Hour24 Hours
Image representing an indicator
Indicators
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Pictorial representation of map of luxembourg
Luxembourg
Image illustrating the flag of luxembourg
Pictorial representation of map of grenada
Grenada
Image illustrating the flag of grenada
Exports of Goods and Services (2023)
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212.53 % of GDPYet to Update
Total Fuel Exports
(2023)
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0.14 % of Merchandise Exports0.01 % of Merchandise Exports
Cost to Export Border Compliance (2023)
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Yet to Update1,034.44 USD
Time to Export Border Compliance (2023)
Image representing Time to Export Border Compliance
Yet to Update101.44 Hours
Cost to Export Documentary Compliance (2023)
Image representing Cost to Export documentary Compliance
Yet to Update40 USD
Time to Export Documentary Compliance (2023)
Image representing Time to Export Documentary Compliance
0.5 Hour13.33 Hours
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Tax Factors Comparison

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Indicators
Image illustrating an indicator
Pictorial representation of map of luxembourg
Luxembourg
Image illustrating the flag of luxembourg
Pictorial representation of map of grenada
Grenada
Image illustrating the flag of grenada
Gross National Savings
(2023)
Image representing the total Gross National Savings of any specific country
17 % of GDPYet to Update
Tax Revenue
(2023)
Image representing the total tax revenue collection of any specific country
25.97 % of GDPYet to Update
Taxes on Exports
(2023)
Image representing Taxes on Exports
Yet to UpdateYet to Update
Taxes on Goods and Services
(2023)
Image representing Taxes on Goods and Services
27.06 % of Tax RevenueYet to Update
Taxes on International Trade
(2023)
Image representing Taxes on International Trade
0.0005 % of RevenueYet to Update
Time to Prepare and Pay Taxes (2023)
Image representing Time to Prepare and Pay Taxes
55 Hours140 Hours
Customs and Other Import Duties (2023)
Image representing Customs and Other Import Duties
0.001 % of Tax RevenueYet to Update
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We hope you enjoyed the detailed guide on the standard of living comparsion between Luxembourg and Grenada.

For more side-by-side comparsion between Countries, States and Cities, you can use the search box above or click the links below.

The Comparedoo.com family sincerely appreciates your time with us. We look forward to seeing you on our other pages.

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