3FOOD

Third Industrial Revolution Consulting Group
Improvements in aggregate efficiency and productivity across all of the sectors that make up
the Luxembourg economy will have a significant impact on new employment opportunities.
Based on 2013 data from STATEC, energy services supported 4 jobs per million euro of valueadded,
compared to 5 in information and communication services, 14 in manufacturing, and 18
in construction and 10 on average throughout the economy (STATEC). Hence, for every one
million euro of value-added services generated through greater cost-effect energy efficiency
improvements, Luxembourg will gain a net increase of 6 new jobs (that is, instead of supporting
4 jobs, the economy will be supporting an average of 10 jobs, or a net gain of 6 jobs). A 5 billion
euro gain in GDP from higher productivity in the Luxembourg economy will lead to higher
employment of about 50,000 jobs (all else being equal).
It is important to note the key role that ICT will play in transitioning all of the other commercial
and industrial sectors into a digitalized Internet of Things economy. By establishing the critical
digital infrastructure to manage, power, and move economic activity across the value chains,
ICT becomes an enabler of new job creation throughout the Luxembourg economy.
The business at hand for Luxembourg will be to provide retraining for the existing workforce
and the appropriate skill development for students coming into the labor market to ease the
transition into the new job categories and business opportunities that come with a massive
build-out of an Internet of Things infrastructure.
In summary, the scale up of a smart digitalized Internet of Things infrastructure across
Luxembourg will generate new business opportunities, dramatically increase productivity,
employ thousands of people, and create an ecologically oriented post-carbon society. The
employment of thousands of workers will also stimulate purchasing power and generate new
business opportunities and additional employment to serve increased consumer demand.
Infrastructure investment always creates a multiplier effect that reverberates across the
economy as a whole.
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