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Around 48,000 people are employed directly, and another 30,000 indirectly, by the financial services industry, of which around 23% are of Luxembourg nationality.
The remaining 77% are composed of foreign residents in Luxembourg and cross-border commuters from neighbouring France, Belgium and Germany.
It was not until 1839, with the Treaty of London, that the Grand Duchy took on its present day form.
The Grand Duchy of Luxembourg remained under the sovereignty of the House of Orange-Nassau, but acquired its own administration, and the Belgian part of Luxembourg became a province of Belgium.
The treaty also resulted in the second partitioning of Luxembourg, the first being in 1658 and a third in 1839.