Published: Monday, 21th October 2024
The Standard of living in Luxembourg is 2.14 times better as compared to Kuwait.
In this page, you will find side-by-side Standard of Living comparison between Luxembourg and Kuwait. 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 Kuwait.
 Indicators  | Luxembourg  | Kuwait  |
|---|---|---|
Gross Domestic Product (GDP)(2023)  | $89.095 billion USD | $159.687 billion USD |
GDP Per Capita (2023)  | 135,605 USD | 32,215 USD |
GINI Ratio (2023)  | 0.30 | 0.29 |
Inflation on Consumer Prices (2023)  | 3.74 % annually | 3.64 % annually |
Central Government Debt (2023)  | 2.9 % of GDP | Yet to Update |
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 Kuwait is $159.687 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 Kuwait.
Indicators | Luxembourg | Kuwait |
|---|---|---|
Human Development Index (HDI) (2024)  | 0.927 | 0.847 |
Human Capital Index (HCI) (2024)  | 0.69 | 0.56 |
Literacy Rate (2023)  | 100% (15 years+ above age) | 96.46% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 82.8 years | 79 years |
Healthy Life Expectancy Ratio (2023)  | 71.2 years | 67.8 years |
Poverty Ratio (2023)  | 17.3% of total Population | Yet to Update |
Unemployment Rate (2023)  | 5.19% of total labor force | 2.08% of total labor force |
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 Kuwait is [ 0.847 ].
The data shows that the people living in Luxembourg has better income, life expectancy and education level compared to Kuwait.
Indicators | Luxembourg | Kuwait |
|---|---|---|
Gross National Expenditure (2023)  | 69.16 % of GDP | 89.94 % of GDP |
Total Health Expenditure (2023)  | 5.67 % of GDP | 5.78 % of GDP |
Research and Development Expenditure (2023)  | 1.04 % of GDP | 0.08 % of GDP |
Government Expenditure on Education (2023)  | 4.7 % of GDP | 3.76 % of GDP |
International Tourism Expenditure (2023)  | 2,458 million USD | 6,696 million USD |
Number of International Tourists Arrivals (2023)  | 525,000 | 2,161,000 |
Military Expenditure (2023)  | 0.7 % of GDP | 4.53 (% of GDP) |
The total Gross National Expenditure of Luxembourg is 69.16% of its GDP and the total Gross National Expenditure of Kuwait is 89.94% of its GDP.
From the above data, we can say that Luxembourg spends 1.30 times less of its GDP on Gross National Expenditure compared to Kuwait.
Indicators | Luxembourg | Kuwait |
|---|---|---|
Number of Doctors (2023)  | 29.85 (Per 10,000 People) | 22.93 (Per 10,000 People) |
Number of Nurses (2023)  | 120.8 (Per 10,000 People) | 45.9 (Per 10,000 People) |
Number of Pharmacists (2023)  | 6.98 (Per 10,000 People) | 4.82 (Per 10,000 People) |
Available Hospital Beds (2023)  | 4.26 (Per 1000 People) | 2.04 (Per 1000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | Yet to Update | 100 % of total Population |
Luxembourg has 1.30 times more Doctors compared to Kuwait (Per 10,000 People).
Luxembourg has 2.63 times more Nurses compared to Kuwait (Per 10,000 People).
Indicators | Luxembourg | Kuwait |
|---|---|---|
Agricultural Land (2023)  | 1,328.11 Sq Km | 1,500 Sq Km |
Forest Area (2023)  | 887 Sq Km | 62.5 Sq Km |
CO2 Emissions (2023)  | 0.1 kg per PPP $ of GDP | 0.52 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100 % of total Population | 100 % of total Population |
Access to Internet (2023)  | 98.24 % of total Population | 99.7 % of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.05 Billion cubic meters | 0.77 Billion cubic meters |
100% of the total Population of Luxembourg has access to the electricity in their homes, whereas, in case of Kuwait, 100% of the total Population has access to electricity.
Indicators | Luxembourg | Kuwait |
|---|---|---|
Time Required to Start a Business (2023)  | 16.5 Days | 19.4 Days |
New Businesses Registered (2023)  | 8,506 (New Businesses) | 10,603 (New Businesses) |
New Businesses Registration Density (2023)  | 18.9 (Per 1000 People) | 3.24 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 1.6 % of GNI Per Capita | 1.7 % of GNI Per Capita |
In the year 2023, 8,506 new businesses got registered in Luxembourg and 10,603 new businesses got registered in Kuwait.
It usually takes 16.5 days in Luxembourg and 19.4 days in Kuwait to register a new business legally and systematically.
Indicators | Luxembourg | Kuwait |
|---|---|---|
Imports of Goods and Services (2023)  | 181.69 % of GDP | 44.08 % of GDP |
Total Fuel Imports (2023)  | 7.19 % of Merchandise Imports | 0.55 % of Merchandise Imports |
Cost to Import Border Compliance (2023)  | Yet to Update | 633.73 USD |
Time to Import Border Compliance (2023)  | Yet to Update | 72 Hours |
Cost to Import Documentary Compliance (2023)  | Yet to Update | 331.82 USD |
Time to Import Documentary Compliance (2023)  | 0.5 Hour | 96 Hours |
Indicators | Luxembourg | Kuwait |
|---|---|---|
Exports of Goods and Services (2023)  | 212.53 % of GDP | 52.33 % of GDP |
Total Fuel Exports (2023)  | 0.14 % of Merchandise Exports | 96.04 % of Merchandise Exports |
Cost to Export Border Compliance (2023)  | Yet to Update | 665 USD |
Time to Export Border Compliance (2023)  | Yet to Update | 84 Hours |
Cost to Export Documentary Compliance (2023)  | Yet to Update | 227 USD |
Time to Export Documentary Compliance (2023)  | 0.5 Hour | 72 Hours |
Indicators | Luxembourg | Kuwait |
|---|---|---|
Gross National Savings (2023)  | 17 % of GDP | 34.72 % of GDP |
Tax Revenue (2023)  | 25.97 % of GDP | 1.49 % of GDP |
Taxes on Exports (2023)  | Yet to Update | Yet to Update |
Taxes on Goods and Services (2023)  | 27.06 % of Tax Revenue | 0.03 % of Tax Revenue |
Taxes on International Trade (2023)  | 0.0005 % of Revenue | 2.4 % of Revenue |
Time to Prepare and Pay Taxes (2023)  | 55 Hours | 98 Hours |
Customs and Other Import Duties (2023)  | 0.001 % of Tax Revenue | 70.34 % of Tax Revenue |
The taxes charged by Luxembourg on international trade is 0.0005% of the total revenue and the taxes charged by Kuwait on international trade is 2.4% of the total revenue.
The Taxes charged on International Trade by Luxembourg is 4800.00 times less of its total revenue than of Kuwait.
We hope you enjoyed the detailed guide on the standard of living comparsion between Luxembourg and Kuwait.
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