Amazon disclosed its investment and economic impact figures for Luxembourg at the company’s annual meeting today.
Addressing thousands of Luxembourg-based employees gathered at the European Convention Center and virtually, Jorrit Van der Meulen, Vice President, European Stores, said: “The figures we announced today demonstrate the significant, positive impact Amazon has in the countries where we operate, including Luxembourg – our European home for more than 20 years now. I am proud of the contributions we have made so far and am excited for what’s to come.”
In 2023 alone, Amazon invested over €1 billion in the country, taking the investments made in Luxembourg to more than €9 billion since 2010. These figures include over €3 billion in employee compensation and benefits since 2010 and contributions that have boosted the local economy more widely.
Amazon's investments in 2023 indirectly supported more than 6,000 jobs in Luxembourg across sectors such as construction, logistics, and professional services, according to estimates by Keystone Strategy, a third-party consultancy. These investments contributed to more than €758 million to Luxembourg's GDP in the same year, with a cumulative contribution of over €3.5 billion since 2010, according to the estimates.
Amazon’s economic impact in Luxembourg, our European headquarters, has been substantial and far-reaching. Keystone Strategy also found that for each and every euro invested by Amazon in Luxembourg since 2010, an estimated €0.77 has been generated in value-added effects (GDP contributions), underscoring the company's role as a significant driver of economic growth in the country.
Commenting on the economic analysis and investment data, the Prime Minister of Luxembourg, Luc Frieden said: “Amazon’s decision to set up its European headquarters in Luxembourg more than 20 years ago, has allowed it to expand its presence in the country and become one of the biggest employers today, building on its investment and innovations and creating thousands of jobs in the process. Private sector investment is vital for driving innovation, creating high-quality jobs and substantially contributing to the economy. The Luxembourg government is committed to ensuring Luxembourg’s competitiveness, in the interest of a modern economy as a bedrock for a strong social model.”
Amazon in Luxembourg
As Amazon’s European headquarters, Luxembourg has played an important role in our regional and wider international operations for more than 20 years. We opened our first office in the Grund in 2003 and later relocated to Kirchberg, which now hosts our entire campus, comprised of seven buildings. The move was necessary to accommodate our growing workforce, which now includes more than 4,250 employees, making us one of the country’s largest employers according to STATEC, the national statistics agency. A range of business teams are based in Luxembourg, from Amazon Stores to Operations, Devices and Amazon Web Services (AWS).
Learn more about our local and regional community engagement efforts here.
A cornerstone of the EU economy
Our investments in Luxembourg are part of a broader commitment to the European Union. Since 2010, we've invested more than €180 billion across EU member states, including over €30 billion in 2023 alone. This substantial investment has had a significant economic impact: Keystone Strategy estimates that Amazon contributed more than €25 billion to the GDP of EU countries in 2023, and more than €140 billion since 2010.
Read more about how we’re driving economic growth and opportunities across the European Union here.
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