CNBC: How Luxembourg is Moving to Put Itself 'At the Heart' of Europe's Space Exploration Industry

©Michael Sheetz | CNBC

One of Europe's smallest countries now holds claim to being a giant in the space industry.

Luxembourg, with a population less than the state of Vermont, now generates nearly 2 percent of its annual gross domestic product from the space industry, according to Deputy Prime Minister Etienne Schneider. The country's economy checked in just shy of $61 billion in 2016, according to the CIA World Factbook.

"We have grown from nothing to the most dynamic in Europe," Schneider told an audience Saturday, in a speech at the New Worlds conference in Austin, Texas. He added that the country's space program was first launched just over 30 years ago.

via CNBC | Michael Sheetz@thesheetztweetz

Last update 

Space resources

Latest News

  1. Pioneering the NewSpace Frontier

    The Astropreneurs sat down with the Luxembourg Director of Space Affairs and the first Vice-Chairman of the ESA Council, Marc Serres, to discuss the pioneering New Space investment initiative