The industrial sector, dominated by steel until the 1960s, has since diversified to include chemicals, rubber, and other products. During recent decades, growth in the financial sector has more than compensated for the decline in steel production. Services, especially banking and finance, account for the majority of the economic output. Luxembourg is the world's second-largest investment fund center (after the United States), the most important private banking center in the eurozone and Europe's leading center for reinsurance companies. Moreover, Luxembourg's government has aimed to attract Internet startups, with Skype and Amazon being two of the many Internet companies that have shifted their regional headquarters to Luxembourg. Other high-tech companies have established themselves in Luxembourg, including 3d scanner developer/manufacturer Artec 3D.
The industrial sector, dominated by steel until the 1960s, has since diversified to include chemicals, rubber, and other products. During recent decades, growth in the financial sector has more than compensated for the decline in steel production. Services, especially banking and finance, account for the majority of the economic output. Luxembourg is the world's second-largest investment fund center (after the United States), the most important private banking center in the eurozone and Europe's leading center for reinsurance companies. Moreover, Luxembourg's government has aimed to attract Internet startups, with Skype and Amazon being two of the many Internet companies that have shifted their regional headquarters to Luxembourg. Other high-tech companies have established themselves in Luxembourg, including 3d scanner developer/manufacturer Artec 3D.