Belgium is one of the major banking and financial centres of the European Union. The Belgian banking sector is known for its stability, liquidity and profitability. Banks typically receive large amounts of deposits, in excess of lending requirements. This is advantageous as Belgian banks typically don’t have to engage in risky capital market funding to meet lending needs. As a result, confidence in the Belgian banking sector is high.

Belgium has more bank branches per head of population than any other country in the world. Banking is a painless and convenient process, and most everyday transactions can be done online.

Belgium is an advanced and highly developed economy. Belgium has a high rate of GDP - at around $50,000 per capita -, high labour productivity and high exports per capita. Although Belgium is highly industrialised, the service sector accounts for the lion’s share of national product. Industries include engineering and metal products, motor vehicle assembly, transportation equipment, processed food and beverage, chemicals and others.

By most measures, Belgium has a very high quality of life, and ranks above average in terms of income and wealth, work-life balance, housing, civic engagement, education and skills, subjective well-being, health status, jobs and earnings, and personal security.

The Belgian healthcare system is divided into private and public, with fees payable under both systems. In order to access healthcare services, residents or citizens require private or state health insurance. Patients generally pay costs up front and are then refunded a portion of the costs of medical fees, hospital care, dental fees, maternity costs and prescriptions. Healthcare is of a high standard in Belgium; in the Euro Health Consumer Index 2016, Belgium was ranked 4th, and was noted as having the best accessibility and fastest access to services in Europe.

Belgium boasts a highly-developed transportation network, with a modern road infrastructure and excellent domestic and international bus and rail connections. Light rail and tram systems complement bus services in major cities. There are five commercial airports in Belgium, the largest of which is Brussels International Airport, which has connections to major European cities, as well as destinations including Russia, the USA and China.