Luxembourg is a country located in Western Europe, mainly composed of French and Germanic cultures and languages. Luxembourg has an area of ​​almost 2,586 square kilometers, making it one of the smallest sovereign states in Europe. In 2012, Luxembourg had a small population of 524,853, ranking it the 8th least populated country in Europe. Luxembourg ranks 179th out of 194 independent countries in the world. Luxembourg is bordered by Belgium to the west, Germany to the east and France to the south. The country being a representative democracy, it is led by Grand Duke Henri. Luxembourg has a highly developed and advanced economy, ranking among the highest gross domestic products per capita in the world. Luxembourg is made up of a high-income population. The domestic market is relatively small, but the country's financial center is mainly international. In 2009, there were 152 banks employing more than 27,000 people. Another great resource of Luxembourg is the steel industry, founded by the Arbed company in 1911. The steel industry is located on the French border. Steel accounts for almost 29% of all exports and 3.9% of the workforce. The relative decline of the steel sector occurred when Arbed became Arcelor, acquired by Mittal Steel, the world's largest steel producer. Tourism is another important element of the national economy, representing approximately 8.3% of GDP in 2009. Luxembourg welcomes more than 900,000 travelers per year. Luxembourg has a small agricultural sector, with most farmers working in dairy and meat production. Agriculture represents 0.3% of GDP, while industry represents 11.3% and services 88.3%. The products of the agricultural industry are grapes, barley, oats, potatoes, wheat and fruits. Some industries include banking and financial services, construction, iron, metals and steel, chemicals, engineering and tourism. Luxembourg's working population is around 265,800 people, which excludes foreign workers, with almost 150,000 workers from France, Belgium and Luxembourg. With one of the highest GDP per capita at around $80,000, you can imagine the amount of luxury items owned by Luxembourg individuals. They have a stable, lightly governed market system with freedom of interests and business. Steel accounting for most export markets, rubber, plastics and agriculture. Travelers come every year to experience the extensive banking and economic services used by the Luxembourg government, which also explains Luxembourg's large revenues. The country is a small populated area but as you can see its economy is very fluctuating and offers many things to foreigners looking for business and trading partners.