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GENTRIFICATION Definition, Types of Intervention, Definition, ofofintervention, Concerns of Gentrification The EconomicTypes Diplomacy Small States A Case Study of the Grand Duchy of Luxembourg: Trade Concerns

and Services, Official Development Assistance (ODA), Foreign DirectByInvestment (FDI) Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student, Dr Helen Marie Christine Architect ADAM, ByKAVVADIA, Mr. George-Sp. C. ATHANASSOPOULOS Student of the Enrico School ofGIROTTO, Architecture Kimberly CLEMONS, Vivien DEVENYI, Technical of Crete Yuliya LISOVA, Fei MO andUniversity Zarja VOJTA

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1. Introductory approach: Defining the conceptUniversity of Luxembourg 1. Introductory approach: the concept (444 BC - 370 BC, Athens), ANTISTHENIS, the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established(444 a great the Abstract among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the In the contemporary globalised, and competitive conditions, acquisition of knowledge starts with themulti-polar the content of concepts.

Based, therefore, on this “principle” indefinition a first, if of not final, approach, the term small states, which count for more than half of the world’s states, through 1 Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term (and urban gentrification) area of Planning) (or gentrification 1 economic endeavours position themselves the best gentrification (and urban gentrification) isarea, indicated (in thefrom areathis, ofin Planning) (or Sociology asdiplomacy well), as the “refining” ofaim a cityto the removal (in various possible way, in order to assure their economic development and political Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, influence.

Being constrained bylow-income theiretc.size, in the terms of population and ways), of social groups, usually of and placement there of artists, the operation of art galleries, restaurants, However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless economy, small states follow different strategic choices in different regions ofof whatever other consequences has, results also rising of land prices (and the whatever otherspeculation). consequences results of land prices (and in the the world.

With an area totallinghas, 2,586 km2also andrising a population of 590,667 potential relative potential relative speculation).

2017, Duchy of Luxembourg one smallest countries Thethe termGrand gentrification is found at first inisthe UKofinthe early 1960s and it refers in to The term gentrification found first the UKindependent in early 1960s and itareas refers Europe, and ranked 179th in size atofpeople all in the states of the the then observed trend ofiswealthy to194 buy property in poor ofto the then observed trend of wealthy people to there buy property in poor areas world.

Despite itsthem, size the hassometimes been advocating openness, and enjoys aof London, upgrade staycountry themselves and thus old residents are London, upgrade them, stay themselvesdiplomacy. sometimes there thus old residents are successful track“squeezed”. record in economic Thereand are, however, no inbeing indirectly being indirectly “squeezed”.

A description of this phenomenon is included in theofwork of Sociologist Ruth depth academic studies to take a detailed account its parameters and to A description ofperiod, this isThe included inwere the recorded work Sociologist Ruth GLASS same while similar situations in other major identify at itsthe strengths andphenomenon weaknesses. present work usesofLuxembourg, as at the period, while situations were states. recorded in other cities Western countries, by othersimilar Researchers. aGLASS caseinstudy forsame evaluating economic diplomacy of small This is the major first cities in Western countries, by other Researchers.

Since then, the issue haseconomic preoccupied severalBased scholars and for itsdata, more study of the Grand Duchy’s diplomacy. on statistical it Since then, the issue has preoccupied several scholars and for its more comprehensive approach are being summarized below, from the various goes beyond a mere account, by critically evaluating Luxembourg’s economic comprehensive approach being summarized fromand the Official various interpretations of the phenomenon of gentrification, thebelow, following: diplomacy in terms of trade,are Foreign Direct Investment (FDI) interpretations of the phenomenon of thecategory following: In a sense, the phenomenon is dueWhile togentrification, a trend of a new ofinsocial groups Development Assistance (ODA). in need of imports trade and to “return” todue the to city,itsleaving theproduction purlieus forpossibilities several reasons: high money investment limited given itscosts sizeinand the and time to travel from purlieussociety, to downtown, where work placeshying is, lack away, of the consumption needs of the its affluent we claim that, without 1.of The termat comes from Sociologist GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense safety thetodistributed residencies outside town centres, the country dared compete in theRuth globalised markets using an efficient and Berlin, where she made her first studies. In 1932 she published an important study entitled: services ofwell health, education, entertainment “at the heart of the city”,movements (possibly) effective, developed economic diplomacy, inand order a) export its goodsfor Youth Unemployment.

The same year she left Germany afterto: continuous lower living cost “withdrawal” from private car easier access to markets, etc. studies and research in Geneva, Prague, London andc) New York she cameof back to London, where and services, b)of, attract inward FDI, while sharing part its wealth with in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and developing countries through the provision of ODA of 1.06% GNI, outreaching University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying most EU are countries and exceeding UN target of 0.7% GNI ENGLISH by 2015.DICTIONARY. Based on her work characterized by a passionthe for justice.

See also: COLLINS and selling real estate, etc., for the initially of partthat of the urban 10th edit. Wil. SONS AND London 2009.

WIKIPEDIA: The Free Encyclopedia: the results ofCOLLINS Luxembourg asCodepreciation aLtd. case study, we argue size is web, not in a G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually determinant of a state’s economic diplomacy success.

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

1. Introduction The era of globalization brought forward major changes in the functioning of world economies. Barriers have been eliminated or seriously lowered, and countries gain access to international markets which has had, forthe most part, beneficial effects on national and foreign economies, viewing the world as their market. Mohr, A (2018), claims that the globalized economy has had a positive impact on developing countries. A good number of these

By Mr. George-Sp. C. ATHANASOPOULOS countries are small states, in terms of the size of their population and/or Harvard University, Graduate School of Design, Student, economy. The present study investigates whether C. small states are also

By Mr. George-Sp. ATHANASSOPOULOS Architect benefiting from the globalised markets, despite the constraints of their size, Student of the School of Architecture through the lens of the economic diplomacy and taking Luxembourg as of a case Technical University Crete study.

1, Defining 1. Introductory approach: the concept Economic diplomacy as an integral part and “means by which states 1.

Introductory approach: Defining the concept pursue their foreign (Berridge 2002)can as a ANTISTHENIS, the policies” ancient Greek philosopher, (444 be BC -understood 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BCand -“principle”: 370 BC, Athens), among other wise heritage healeft us, he established a great constantly changing sphere of country’s external relations activities.

Itthe is other wise heritage leftthe us,definition he established aofgreat the acquisition of knowledge starts with of the content of“principle”: concepts. aamong manifestation of needs andhe preferences, the pursuit which is driven by acquisition of knowledge with theto the content concepts.

Based, interests therefore, on this “principle” indefinition a first, if of not final, approach, theMany term domestic and in starts accordance international rules andofnorms.

1 (and urban Based, therefore, on this “principle” in a first, if not final, approach, the term gentrification) is indicated (in the area of Planning) (or gentrification branches of diplomacy have developed throughout history, with economic 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various diplomacy developing as a front liner in the globalised world. This is especially Sociology as well), as the “refining” of a city area, removal fromthere this, (inartists, various ways), social groups, usually of market. low-income andthe the placement of true inoftoday’s integrated global Gaining access to foreign markets for ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, this “change”, of domestic companies can berestaurants, seen as oneetc. of However the primary objectivesregardless a country’s the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the economic diplomacy aims to achieve. Establishing good diplomatic ties withof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative foreign countries in order to internationalize one’s economy, strengthening potential relative speculation).

The term gentrification is found in the domestic UK in earlymarkets 1960s andtoit refers to relations between partners andat first opening foreign The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor investment, while sharing wealth with developing countries, is an integral the then observed trend of wealthy sometimes people to there buy property in poor areas of London, upgrade themselves and the thusGrand old residents objective of one them, of thestay world’s best known tax havens, Duchyare of London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

Luxembourg. being indirectly “squeezed”.

A description of this phenomenon included in the work of Sociologist Ruth the contemporary globalised,isismulti-polar and conditions, AIn description ofperiod, this phenomenon included inwere thecompetitive work of Sociologist Ruth GLASS at the same while similar situations recorded in other major small states, which count for more thansituations half of the world’s states, through GLASS at the same period, while similar were recorded in other major cities in Western countries, by other Researchers. economic diplomacy endeavours to position themselves in the best cities in Western countries, bypreoccupied other aim Researchers.

Since then, the issue has several scholars and for its more possible order to has assure their economic Sinceway, then,inthe issue severaldevelopment scholars andand forpolitical its more comprehensive approach arepreoccupied being summarized below, from the various influence.

Being approach constrainedarebybeing theirsummarized size, in terms of from population and comprehensive below, the various interpretations of the phenomenon of gentrification, the following: economy, small states follow different strategic choices in different regions of interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups the world.

In Europe, 20 of the 39 small states in this region have opted to join to “return” to the city, leaving the purlieus for several reasons: high costs in money the time European Union integration process, where whichwork has place been is, successfully and to travel from(EU) the purlieus to downtown, lack of the The term comes from Sociologist Ruth GLASS, 1912-1940. Ruth GLASS was born in sense1.of 1 safety at the distributed residencies outside town centres, search for better diplomacy canfirst be defined different ways ranging from economic statecraft to a Berlin,Economic where she made her studies.inIn 1932 she published important entitled: services of health, education, entertainment “at the heartan of the city”,study (possibly) Youth of Unemployment.

The same year she left Germany continuous process international economic decision making, as shown and in theafter different ways ofmovements its definition:for lower living cost of, “withdrawal” from private access to markets, etc. studies and research in Geneva, Prague, London and car New York she came back to London, where «Economic statecraft which is the strategic use of positive andeasier negative economic sanctions such as in 1943 she published studies regarding city planning.

In 1950 she became teacher in the According to another approach, the phenomenon is due to a systematic and trade embargoes as well as aid programs by states and other actors such as UN to coerce other University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying states to cooperate» (Baldwin, 1985), «Two forms of economic warfare – use of economic power for her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. political purposes…or the use of for political power for economic purposes…»(Arndt, 1991), «Aweb, process and selling realCOLLINS estate, etc., theCodepreciation initially of part of the urban in 10th edit.

Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: of international economic decision-making and negotiation»…. «much broader in scope than G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually classical diplomacy» (Bayne &Woolcock, 2007).

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GENTRIFICATION Definition, Types of Intervention, pursued for sixty years. In other parts of the world, small states also try to join Definition, Types of beyond intervention, Concerns Gentrification forces, but “the integration has of not developed the level of free-trade areas” (Kurecic, P. 2017). With an area totalling 2,586 km2 and a population of Concerns 590,667 in 2017, the Grand Duchy of Luxembourg is one of the smallest

98

countries in Europe, and ranked 179th in size of all the 194 independent states of the world.

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School Student, Despite its small size, however, Luxembourg belies of itsDesign, influence and Mr. George-Sp. ATHANASSOPOULOS Architect success in international matters. By “Luxembourg is aC.country where small Student of the School Architecture works. Smallness rarely hinders Luxembourg’s foreign policy; in of fact it often Technical University of Crete enhances it. The Grand Duchy is unique in its ability to define foreign policy goals clearly and to devise successful strategies 1. Introductory approach: Defining the conceptto pursue those goals” (Hey, J.K. 2003).

While Luxembourg strives for EU integrated policy objectives, it 1. Introductory approach: the concept ANTISTHENIS, the ancientDefining Greek philosopher, (444 BC - 370 BC, Athens), advocates its own policy interests, and especially those in of ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370the BC,area Athens), among other wise heritage he left us, he established(444 a great the economics and business, in the context of its successful diplomacy. among other wise heritage he leftthe us,definition he established a economic greatof“principle”: the acquisition of knowledge starts with of the content concepts.

Foresight, vision and consistency enabled Luxembourg to adapt its economic acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term diplomacy andthis increase rather than decrease its importance, interm an 1 (and urban Based, objectives therefore, on “principle” inindicated a first, if (in notthe final, approach, the gentrification) is area of Planning) (or gentrification 1 ever larger globalised world playfield.

From iron ore and steel before and just gentrification (and urban gentrification) indicated (in thefrom areathis, of Planning) (or Sociology as well), as the “refining” of a cityisarea, the removal (in various after WWII, Luxembourg’s prosperity kept increasing from headquartering a Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, number of EU institutions, a flourishing banking sector, and inward Foreign ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However this “change”, regardless of Direct Investment The restaurants, latter promoted strongly Grand Duke Henri, the operation ofconsequences art(FDI). galleries, etc.also However “change”, regardless whatever other has,isresults risingthis ofby land prices (and theof who as crown prince had led a campaign, involving numerous world travels to whatever other consequences has, results also rising of land prices (and the potential relative speculation). potential relative speculation). make the country known as a trade and services, as well as FDI destination, The term gentrification is found at first in the UK in early 1960s and it refers to The term iswealthy found at first the UK in early 1960s and itareas refersofto which lead togentrification a significant ofpeople the in Grand Duchy’s economic diplomacy the then observed trend ofincrease to buy property in poor the then observed trend wealthy people buy property in poor areas returns, making Luxembourg one of the mosttoimportant markets ofof London, upgrade them, stay of themselves sometimes there and financial thus old residents are London, upgrade them, themselves sometimes andinternational thus old residents are the world and, after the stay United States, the second there biggest centre being indirectly “squeezed”. being indirectly “squeezed”. for investment funds, while attracting among others global corporate giants A description of this phenomenon is included in the work of Sociologist Ruth ofAmazon this phenomenon is situations included workwith of Sociologist Ruth suchAasdescription Goodyear, Arcelor Mittal etc. Asinwere athe result, USD 107,708, GLASS at the same period, while similar recorded in other major GLASS at the same period, while similar situations were recorded in other major Luxembourg hascountries, the biggest GDP Researchers. per capita in the world, an unemployment cities in Western by other cities Western countries, bypreoccupied other Researchers.

Since then, issue has several scholars and forand its more rate ofin5.5%, a the general government gross debt of 17,5% of the GDP has a then, the issueinhas scholars andthe for various its more comprehensive approach arepreoccupied being from real Since GDP growth of 3.6% 2017 (IMF, summarized 2017).several below, comprehensive approach are being summarized fromfrom the various interpretations of the of gentrification, thebelow, following: This is due to phenomenon many interlaced reasons which set it apart other, interpretations the phenomenon of theposition following: In a sense, theof phenomenon is due togentrification, a trend a new category of the social groups similar countries.

Smallness and location of theofstate's in centre of to “return” to the city, leavingrole, the as purlieus foreffective several reasons: highand costs in money Europe plays an important well as governance a peaceful, and time to stable, travel from the and purlieus to downtown, where work lack of the politically social economic environment.

In place termsis,of foreign 1.of The term from Sociologist Ruth GLASS, 1912-1940.

Ruth GLASS for was born sense safety atcomes the distributed outside town centres, search investment, the Grand Duchyresidencies focuses mostly on the promotion ofbetter thein Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, entertainment “at thetechnology-oriented heart of the city”, (possibly) development of aeducation, sophisticated post-industrial servicefor Youth Unemployment.

The same year she left Germany and after continuous movements lower living cost of, “withdrawal” from private car easier access markets, studies and(financial, research in Geneva, Prague,and London and New York she came back to London, where economy technology business sector) andto boosts aetc. very in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and advanced communication infrastructure.

University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying Despite the country’s successful track in economic her work are characterized by a passion for justice.

Seerecord also: COLLINS ENGLISHdiplomacy, DICTIONARY. and selling real estate, etc., for the depreciation initially of part of the urban web, in 10th edit.

Wil. COLLINS SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: there are no in-depth academic studies to take a detailed account of its Gentrification: G. ALEXANDRI: Abstract. http://www.uncanny.net/ wetzel/gentry.htm aparameters variety of and ways, orderits tostrengths achieve the “voluntary”, (actually to in identify and“assisted”, weaknesses.

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

Which factors set Luxembourg apart from other tax havens and make it a desirable environment to invest in and attract foreign businesses? A business-friendly image of the country is mostly achieved due to low corporate taxes (to be 18% in 2018), having the lowest VAT in the European Union (at 17%), a stable and highly qualified workforce and state-given tax incentives to numerous sectors (small businesses, environment, innovation and development). Moreover, a strong rule-of law and a push towards greater

By Mr. George-Sp. C. ATHANASOPOULOS transparency have served to battle corruption practices on all governmental Harvard University, Graduate School of Design, Student, and bureaucratic levels, with regulations in place C. byATHANASSOPOULOS the FinancialArchitect Sector

By Mr. put George-Sp. Surveillance Commission. A politically stable environment and strong Student of the School of Architecture incentives towards innovation, especially in regards to University industrialof Crete and Technical technological sectors show the immense growth potential the country has, 1. Introductory approach: Defining the concept which is one of the main reasons foreign investors choose to conduct their 1.

Introductory approach: Defining the concept (444 BC - 370 BC, Athens), businesses here, U.S.the Department of State (2017).

ANTISTHENIS, ancient Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, (444 BCnot -“principle”: 370only BC,tries Athens), among other wise heritage he left us, he established a great the The present study will also show that the country to among foreign other wise heritage leftthe us,definition he established a great the acquisition of knowledge starts with ofpromotes the content of“principle”: concepts. attract capital, buthe the government and encourages acquisition of knowledge starts withLuxembourg theindefinition of the content of concepts.

Based, therefore, on this “principle” a first, ifshares not final, approach, the term investment in the outside world. values and principles 1 (and urban therefore, this “principle” is inindicated a first, notthe final, approach, the term gentrification) (in area of Planning) (or gentrification withBased, the rest of theonEU Member-States and if operates under a common 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various European normative framework. Promoting peace, development, economic Sociology as well), as the “refining” of a cityand area, the fromthere this, (inartists, various ways), ofhuman social groups, usually and theremoval placement of growth, rights, as well of as low-income freedom democracy leads the country to ways), of social groups, usually of low-income and the placement there of artists, the operation ofparts art galleries, restaurants, etc. However this “change”, of invest in other of the world with less-ideal circumstances andregardless conditions the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the for development. As a second largest donor and a member of Officialof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative Development Committee (DAC), Luxembourg has contributed 0.7% of its GNI potential relative speculation).

The term gentrification is found first in the UKAssistance in early 1960s refers of to (Gross National Income) to OfficialatDevelopment withand theitintent The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor helping Developing Countries fight poverty and achieve Sustainable the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof Development Goals (SDGs) the yearsometimes of 2030, as stated the Luxembourg London, upgrade them, stay by themselves there andin thus old residents are being indirectly “squeezed”.

Official Portal, (2017).

Most of it official assistance is directed towards being indirectly “squeezed”.

A description ofand thisdevelopment phenomenon cooperation. is included in In the2015 workalone, of Sociologist Ruth humanitarian aid Luxembourg A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major contributed more than 320 Million Eurossituations which were consequently managed GLASS at the same period, while similar were recorded in other major cities in Western countries, by other Researchers. by various Non-Governmental Organisations (NGOs), Luxembourg Official cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more Portal (2017).

Sectors thathas receive most donations are heavily focused-on Since then, the issue severaland scholars andthe for its more comprehensive approach arepreoccupied being summarized below, from various are mainly education, renewable energy and microfinance (ibid).

Thevarious latter comprehensive approach are being summarized below, from the interpretations of the phenomenon of gentrification, the following: has been hailed as one of the more suitable economic approaches to lessinterpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups developed economies whose main beneficiaries are mainly women, Yasuhiko to “return” to the city, leaving the purlieus for several reasons: high costs in money (2011). and time to travel from the purlieus to downtown, where work place is, lack of the The present uses residencies Luxembourg, as1912-1940. atown casecentres, study for evaluating The term from Sociologist Ruth GLASS, Ruth search GLASS wasbetter born in sense1.of safety atcomes the work distributed outside for Berlin, where she made her first studies.

In 1932 sheispublished an study important study entitled: economic diplomacy of small states.

This the first of the Grand services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same year she on left statistical Germany and afteritcontinuous Duchy’s economic diplomacy.

Based data, goes beyond aetc. mere lower living cost of, “withdrawal” from private car easier access to markets, studies and research in Geneva, Prague, London and New York she came back to London, where account, by critically evaluating Luxembourg’s economic diplomacy in terms in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and College of London, where she continued her social research.

Her public and ofUniversity trade, Foreign Direct (FDI) and Official Development Assistance long-term informal effortInvestment by organized groups, manufacturers, brokers ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. (ODA).

While in needetc., of for imports in trade and investment due to its limited and selling realCOLLINS estate, theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: production possibilities given its size and the consumption needs of its G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

affluent society, we claim that, without shying away, the country dared to compete in the globalised markets using an efficient and effective, well developed economic diplomacy, in order to: a) export its goods and services, b) attract inward FDI, while c) sharing part of its wealth with developing countries through the provision of ODA. Based on the results of Luxembourg as a case study, we claim we argue that size is not a determinant of a state’s economic diplomacy success.

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student, 2. Trade of goods and services

By Mr. George-Sp. C. ATHANASSOPOULOS Architect Trade has always been a fundamental factor toSchool determine state’s Student of the of Architecture influence. Together with other variables (finance, investments, environmental Technical University of Crete

100

and development policies, commerce and consular work) it is subject to the 1. Introductory approach: diplomacy.

Defining theWorld concept above mentioned economic trade boosted, in particular in 1.

Introductory approach: Defining the concept recent decades thanks to many driving forces(444 such new ANTISTHENIS, the ancient Greek philosopher, BCas - 370 BC,products, Athens), ANTISTHENIS, the Greek philosopher, (444 BC -“principle”: 370ofBC, Athens), among otherreduced wise heritage left us, he established a number great the innovation, costancient ofhetransportation, growing FTAs and among other wise heritage left us, he established a greatof“principle”: the acquisition knowledge startshe with the definition of the content concepts. emerging ofofnew actors.

Also, the way sovereign states promote their interests acquisition of knowledge starts with the the content of concepts.

Based,trade therefore, on this “principle” indefinition a first, if of not final, approach, term through has changed, going beyond bilateral agreements andthe simple 1 (and urban Based, therefore, on this “principle”bodies. inindicated a first, if is not final, approach, the gentrification) is (in the area ofevident Planning) (or gentrification involvement of1 countries’ institutional This even more at term the gentrification (and urban gentrification) is indicated (in the area of Planning) (or Sociology as well), as the “refining” of a city area, the removal from this, (in various European level, where trade policy is an exclusive EU competence that Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of complex social groups, usually of low-income and the placement of artists, requires negotiations within Institutions.

Indeed, with there the creation of ways), of social groups, ofand low-income and thethis placement of artists, the operation ofMarket art galleries, restaurants, etc. with However “change”,there regardless of the Common inusually 1960s later Single European Market, the the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the former Member States voluntarily delegated a big part of their power in thisof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative field to European Community. Luxembourg was part of them. Today, the potential relative speculation).

The term gentrification found at first the UK States in earlyin 1960s it refers to commissioner for Trade is represents all in Member the and international The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor trade fora and ensures the respect of vertical and horizontal coherence when the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof negotiating new agreements.

London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

The specificity of Luxembourg’s trade diplomacy is defined by its small being indirectly “squeezed”.

A description of thispotential. phenomenon in the work of Sociologist Ruth territory but great Theisisincluded Grand Duchy member of major A description ofperiod, this phenomenon included inwere the is work of Sociologist Ruth GLASS at the same while similar situations recorded in other major organizations such as EU, while WTO,similar OECDsituations and is were actively involved in major the GLASS at the same period, recorded in other cities in Western countries, by other Researchers. international trade arena.

Its high-level diplomats work worldwide promoting cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more commercial interests andhas shaping trade relations of the country.

Several Since then, the issue several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from national bodies are co-responsible for imports facilitation and exports comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: stimulation.

On the highest level these are Ministry of Economy and Ministry interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups of Foreign Affairs.

These operate through embassies, consulates andinvarious to “return” to the city, leaving the purlieus for several reasons: high costs money representation offices as well as national agencies like Luxembourg and time to travel from the purlieus to downtown, where work place is, lack of for the Business and Luxembourg Trade & Invest.

Together with Chamber ofin 1.of The termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruththe GLASS wasbetter born sense safety the distributed residencies outside town centres, search for Berlin, whereand she made her first studies. In 1932 she published an important study entitled: Commerce specific government departments, these agencies regularly services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same year she Germany and after continuous conduct trade missions around theleft globe.

According to to the Chamber of lower living cost of, “withdrawal” from private car easier access markets, etc.where studies and research in Geneva, Prague, London and New York she came back to London, Commerce Luxembourg (201), in addition, there also exist nine Luxembourg in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University College of London, where she continued her social research.

Her public action and Trade andinformal Investments worldwide to support and facilitate trade, in long-term effort offices by organized groups, manufacturers, brokers of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. India, China, Israel, Taiwan, South Korea, Japan, United Emirates and 2 in and selling real estate, etc., for theCodepreciation initially of Arab part of the urban web, in 10th edit. Wil. COLLINS SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: USA. Given the importance of Germany, France and Belgium for Luxembourg G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

foreign trade (Graph 1), the Chamber of Commerce and the Ministry of European and Foreign Affairs have, in close cooperation, established a Trade Department at the Embassies of the Grand Duchy of Luxembourg in Berlin, Paris and Brussels.

Effective trade and commercial diplomacy means providing information, building trust and public involvement both for imports and for exports.

Despite the latter is more commonly used indicator to define state’s wellness,

By Mr. George-Sp. C. ATHANASOPOULOS imports require a detailed consideration too. Before proceeding, a brief word Harvard University, Graduate School of Design, Student, on definitions is needed. Are considered imports all C. goods Compared to its

By Mr. George-Sp. ATHANASSOPOULOS Architect neighbours (with the exception of France). Student of the School of Architecture Technical University of Crete

Graph 1: Luxembourg – trade imbalance 2006 - 2016 1. Introductory approach: Defining the concept 1. Introductory approach: the concept (444 BC - 370 BC, Athens), ANTISTHENIS, the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established(444 a great the among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term 1 (and urban Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term gentrification) area of Planning) (or gentrification 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various Sociology as well), as the “refining” of a city area, fromthere this, of (inartists, various ways), of social groups, usually of low-income andthe theremoval placement ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and theof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor the then observed trend wealthy sometimes people to there buy property in poor areas Source: WITS London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. being indirectly “squeezed”.

A description of thisdimension phenomenon is included in the work of Sociologist Ruth 2.1 The Export A description ofperiod, this is situations included the recorded workTrade, of Sociologist Ruth GLASS at the same while similar in particularly other major The promotion of phenomenon activities in the fields ofinwere Foreign GLASS at the same period, while similar situations were recorded in other major cities in Western countries, other Researchers. the Exports of goods and by services, is one of the priorities of the trade policy cities in Western countries, bypreoccupied otherand Researchers.

Since then, issue has several scholars and Duchy for its bases more and strategy at the both the European national levels.

The Grand Since then, the issue has preoccupied several scholars and for its more comprehensive approach are being summarized below, from the various this approach on the fact that, in the conditions of the increasing globalisation, comprehensive approach are being summarized below, from the various interpretations of the of gentrification, following: the high degree of phenomenon cohesion and coordination the (under the Single Market interpretations of the phenomenon of gentrification, thecategory following: social groups In a sense, the phenomenon is due to a trend of a new framework), combined with the increasing openness of market,of the prosperity to to the city, leaving the purlieus high costs in money of “return” Grand Duchy is highly dependent onfor itsseveral abilityreasons: to promote its economic and time to travel from the purlieus to downtown, where work place is, lack of the interests bilaterally, minilaterally and multilaterally. As a founding member of 1.of The termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense safety the distributed residencies outside town centres, varied international organizations like BENELUX, the EU, NATO, OECD and the Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, entertainment “at the heart of the city”,movements (possibly) UN, Grand education, Duchy has international cooperation andfor Youththe Unemployment.

The same yearadvocated she left Germany and after continuous lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research in Geneva, Prague, anddecades New York in sheorder came back to London, coordination in different fields in London the past to guarantee its in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to to another approach, the istrade due a systematic and sovereignty and enhance its economic diplomacy in and investment.

University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying Undoubtedly, foreign trade activities vital part her work are characterized by a passion for justice.of SeeLuxembourg also: COLLINSpossess ENGLISHaDICTIONARY. and sellingWil. realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in London 2009.

WIKIPEDIA: The Free Encyclopedia: of10th theedit. economic life. SONS MostAND of theLtd. Luxembourg production is for exports of G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually goods and services. With a dynamic and widely open economy, Luxembourg

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Table 1 : Luxembourg – Concerns Foreign trade indicators 2009-2016

exports are around 85% to 90% of its production during the recent years. The share of foreign trade in the State's GDP is more than 400%, and the exports contribute more than half around 228% (Table1).

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student,

By Mr. George-Sp. C. ATHANASSOPOULOS Architect Student of the School of Architecture Technical University of Crete

102

1. Introductory approach: Defining the concept 1. Introductory approach: the concept (444 BC - 370 BC, Athens), ANTISTHENIS, the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established(444 a great the among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term 1 (and urban Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term gentrification) area of Planning) (or gentrification 1WB, Source: gentrification (and urban gentrification) indicated (in thefrom areathis, of Planning) (or Sociology as well), asWTO the “refining” of a cityisarea, the removal (in various Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, Fully integrated into theof European economic landscape, theofGrand ways), of social groups, usually low-income and thethis placement artists, the operation of art galleries, restaurants, etc. However “change”,there regardless of Duchy is perfectly in line with the development of cross-border tradeof the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the activities.

According to the has, Chamber Luxembourg & whatever other consequences results of alsoCommerce rising of land prices (and the potential relative speculation).

International Affairs (2017), approximately 87% of these exports go to potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to European countries.

The main attrade regarding exports ofto The term gentrification found first in partners the UK in early 1960s and itareas refersof the then observed trend ofiswealthy people to buy property in poor Luxembourg’s goods & services are its three neighbouring countries, Germany the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof (USD 3.46bn; 26.9%), France (USD 1.9bn; 14.8%); there Belgium 1.51bn; 11%) London, upgrade them, stay themselves sometimes and(USD thus old residents are being indirectly “squeezed”. and then followed by the Netherlands (USD 727 m; 5.7%), and Italy (USD 499 being indirectly “squeezed”.

A description of this phenomenon is included in the work of Sociologist Ruth m; 3.9%).

A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at (Table2) the same while similar in other major GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

Table 2 : Luxembourg –other Exports geographical distribution2016 cities in Western countries, bypreoccupied Researchers.

Since then, the issue has several scholars and for its more Since then, the issue has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups to “return” to the city, leaving the purlieus for several reasons: high costs in money and time to travel from the purlieus to downtown, where work place is, lack of the termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Youth Unemployment. The same year she left Germany and after continuous movements for lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University informal College of London, where she continued her social research. brokers Her public and long-term effort by organized groups, manufacturers, ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually Source: Comtrade

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student,

By Mr. George-Sp. C. ATHANASSOPOULOS Architect 2.1.2 Exports of goods and services Student of the School of Architecture Due to the Grand Duchy’s territorial and population constraints, a deficit Technical University of Crete

of trade balance always consistently in the last years, mainly in merchandise 1. Introductory trade.

(Graph 1) approach: Defining the concept 1.

Introductory approach: the concept According statistics dataDefining from WTO & WB, the Duchy ANTISTHENIS, the ancient Greek philosopher, (444Grand BC - 370 BC,exported Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -5.46 370 BC, Athens), among other wiseresulting heritageinhe left us, he established aofgreat “principle”: the USD 9.46 billion, a negative trade balance USD billion.

The among other heritage he leftthe us,definition he established a great the acquisition of knowledge starts with of the content of“principle”: concepts. main exports ofwise goods are Iron Blocks (USD 753M; 5.9%), Rubber Tires (USD acquisition of knowledge starts with theindefinition the content of429M; concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the3.4%) term 524M; 4.1%), Cars (USD 505M; 3.9%), Iron Sheet Piling (USD 1 (and urban onIron this “principle” in a first, if (in notthe final, approach, the term gentrification) indicated area of Planning) (or gentrification and Based, Coated therefore, Flat-Rolled (USD 396M;is 3.1%).

(Table3) 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various Sociology as3: well), as the “refining” of a city area, removal fromthere this, of (inartists, various ways), of social groups, usually low-income andthe the placement Table Luxembourg –of Exports of goods sectoral distribution 2016 ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and theof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. being indirectly “squeezed”.

A description of this phenomenon is included in the work of Sociologist Ruth A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers. cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more Since then, the issue has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: Source: Comtrade interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups to “return” to the city, for several reasons: costsexports in money Luxembourg is leaving one of the the purlieus top 20 global players in thehigh world of and time toThe travel from the purlieus to downtown, where workare place is, lack of the services. main exports of services of Luxembourg Travel (4.6%), 1.of The termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for born in sense safety the distributed residencies outside town centres, better Transport (4.5%), Goods-related (0.1%), and remaining other was services Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly)for including Financial (64.6%), Business related (19.7%), and Personal Youth Unemployment.

The same year she left Germany and after continuous movements& lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research inAccording Geneva, Prague, and New YorkCommission she came back to London, Cultural (5.0%). to London the European (2014), the in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and outstanding services exported are the result of a long-standing tradition in University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying innovation, industrial by excellence, know-how in theENGLISH services sector, her work are characterized a passion forand justice.

See also: COLLINS DICTIONARY. and selling real estate, etc., for theCodepreciation initially the urban web, in 10th edit. Wil. COLLINS SONS AND Ltd. London(Table 2009.

WIKIPEDIA: The Free Encyclopedia: particularly business and financial services.

4)of part of G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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2016

GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

Table 4: Luxembourg – Exports of services sectoral distribution

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student,

By Mr. George-Sp. C. ATHANASSOPOULOS Architect Student of the School of Architecture Technical University of Crete

104

1. Introductory approach: Defining the concept 1. Introductory approach: the concept (444 BC - 370 BC, Athens), ANTISTHENIS, the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established(444 a great the among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term 1 (and Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term Source: WTOurban gentrification) area of Planning) (or gentrification 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various Sociology as well), as the “refining” of a city area, fromthere this, of (inartists, various 2.1.3.

Luxembourg’s Market Share ofthe Exports ways), of social groups, usually of low-income and theremoval placement ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, “change”, regardless of The Grand Duchy isrestaurants, classified etc. as However a small this open economy since it the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever consequences has, rising of land pricesin(and theof accountedother for around 0.007% of theresults world also population and 0.097% the EU. whatever other consequences has, results also rising of landfocusing prices (and the potential relative speculation).

According to Peter H. K. & Schuller, G. (2009), however on its potential relative speculation).

The term gentrification is found first in theEuropean UK in early 1960s and it refers to contribution to GDP or exports onat world and level, a different scene The term gentrification is found at first in the UK in early 1960s and it refers the then observed trend of wealthy people to buy property in poor areas of appears. The share of the Luxembourg GDP & share of exports of goods isto the then observed trend of wealthyshare. peopleUnfortunately, to there buy property in poor London, upgrade them, stay themselves sometimes and thus old residents areof 1300% larger than its population exports of areas goods London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. contributed less than one quarter to Luxembourg’s total exports in the last being indirectly “squeezed”. description of thiseconomic phenomenon included in the work of Sociologist fiveAyears.

The world crisisishit Luxembourg’s exports of goods,Ruth but A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major the intensity and the degree of shock is same as the rest of the world and GLASS at the same period, while similar situations were recorded in other major cities in Western countries, other Researchers.

Europe.

In comparison tobythe export of services, Luxembourg’s exports of cities in Western countries, by other Researchers.

Since thesmall issueinhas severalUp scholars andLuxembourg’s for its more goods arethen, rather thepreoccupied European context. to 2008, Since then, the issue has preoccupied several below, scholars andthe for various its more comprehensive approach are being summarized from exports of goods to EU greware at the approximately same ratefrom as the intra-EU comprehensive approach being summarized below, the various interpretations oftrade the phenomenon of gentrification, the following: and Euro Area of goods, but then progressively lost power in the interpretations of the phenomenon of gentrification, thecategory following: In a sense, the phenomenon is due to a trend of a new of social groups following years. On the other hand, the market share of exports of services is to “return” to the city, leaving purlieus for several reasons: high costs has in money getting more remarkable andthe distinguishable.

The European market been and time to travel from the purlieus to downtown, where work place is, lack of the deemed as the main arena for Luxembourg’s exports of services.

According to termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, statistical data of WTO, IMF, STATEC and Eurostat, more than 70% of Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same year she left Germany and after continuous Luxembourg’s exports of services go to the EU (28 Member States) and more lower living cost of, in “withdrawal” from private access to markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she back to London, than 60% to the Euro Area.

Merely, around 12% --came 15% are exported in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and externally outside Europe.

While world level, theresearch. degree brokers of Luxembourg’s University informal College of London, where sheat continued her social Her public and long-term effort by organized groups, manufacturers, ofaction buying her workshare are characterized by a passion for justice. also: driven COLLINSby ENGLISH DICTIONARY. market inestate, worldetc., exports ofdepreciation services is See mainly the development and selling realCOLLINS for the initially of part of the urban web, in 10th edit. Wil. SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: of global financial markets.

Its contribution to the world’s exports of financial G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Graph 2: Luxembourg’s share of major economical indicators Concerns

services is significant, the ratio of these contributions is approximately 2500% larger than its population share. (Graph 2)

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student,

By Mr. George-Sp. C. ATHANASSOPOULOS Architect Student of the School of Architecture Technical University of Crete

1. Introductory approach: Defining the concept 1. Introductory approach: the concept (444 BC - 370 BC, Athens), ANTISTHENIS, the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established(444 a great the among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term 1 (and urban Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term gentrification) area of Planning) (or gentrification 1WTO, Source: IMF, Eurostat, gentrification (and urban gentrification) indicated (in thefrom areathis, of Planning) (or Sociology as well), as the “refining” ofSTATEC, a cityisarea, the removal (in various Luxembourg's weak performance in exports of goods highlights Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, competitiveness issues both in terms ofetc. geographical orientation and product ways), of social groups, usually of low-income and thethis placement of artists, the operation of art galleries, restaurants, However “change”,there regardless of specialization.

The exportation of raw materials and manufacturing products the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and theof has also relative been steadily until the but showed whatever otherexpanding consequences has, results alsocrisis risinginof 2008, land prices (and the potential speculation). persistent losses in overall export market shares in the recent decade.

It to is potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers associated with comparatively real wage increases the The term gentrification foundhigh atpeople first in the UK in early 1960s and itareas refers the then observed trend ofiswealthy to buy property inindicating poor ofto the then observed trend wealthy sometimes people to there buy property in poor areas existence of labour market rigidities.

Unit labour costs Luxembourg have London, upgrade them, stay of themselves andinthus old residents areof London, upgrade them, stay sometimes andcountries, thus old residents are been rising much faster thanthemselves in European trading there partner driven to being indirectly “squeezed”. indirectly “squeezed”. abeing certain extent by the wage setting mechanism.

However, exports of services A description of this phenomenon is included in the work of Sociologist Ruth description ofperiod, thisthe phenomenon is situations included inwere the recorded work of Sociologist Ruth haveAmore than offset bad performance in exports of goods, GLASS at the same while similar in particularly other major GLASS at the same period, while similar situations were recorded in other major the financial Grand Duchy has been the main growth cities in Westernservices countries,inbythe other Researchers. cities in Western countries, bypreoccupied otherthe Researchers. momentum for the decades. economy’s reliance on financial Since then, issue Although has severalstrong scholars and for its more Since then,with the issue has several scholars andthe forhowever its more services comes an inherent risk, the exports of financial services comprehensive approach arepreoccupied being summarized below, from various comprehensive approach are being summarized below, from the various interpretations thetophenomenon of gentrification, the following: has turned thisof risk a new opportunity for the Grand Duchy. interpretations the phenomenon thecategory following: In aFurthermore, sense, theof phenomenon is dueof togentrification, a trendofofForeign a new of social Affairs groups Luxembourg's Ministry and European to “return” to the city, and leaving the purlieus for several reasons: high in money holds apermanent regular Diplomatic Conference in costs Luxembourg, and time to travel from the purlieusand to downtown, where work place lack of the bringing together ambassadors consuls-general, heads of is, cooperation 1.of The term comes from Sociologist RuthofGLASS, 1912-1940.

Ruthand GLASS wasbetter born in sense safety the distributed residencies outside town centres, search for offices of the at Grand Duchy, directors Luxembourg Trade Investment Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health,aseducation, entertainment “at the heart of of thethe city”, (possibly)for Offices (LTIOs) well as economic and trade attachés Chamber Youth Unemployment.

The same year she left Germany and after continuous movementsof lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research in Geneva, Prague, London and NewEuropean York she came back toin London, Commerce and the Ministry of Foreign and Affairs order to in 1943 she published studies regarding city planning.

In 1950 she became teacher in the According to another approach, the phenomenon is due to a systematic and exchange views, communicate experiences, and set forth initiatives of in depth University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying cooperation with the international relations, and economic actors of her work are characterized by a passion for justice. Seepolitical also: COLLINS ENGLISH DICTIONARY. and selling real estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. COLLINS SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: the State.

Diplomatic conferences also organize several workshops involving Gentrification: G.outstanding ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm aLuxembourg's variety of ways, in order Abstract. tofields achieve the “assisted”, (actually of exports such as“voluntary”, ICT and innovation,

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

environmental technologies, automotive and logistics sectors enabled companies, diplomatic representatives, and representatives of the ministries and the Chamber of Commerce to reflect together on the conveyed important messages, and provide opportunities to the Luxembourg diplomatic representatives around the world to share success experiences in trade and investment. All these efforts made by public bodies aim at achieving the State goals of promoting exports and investment, to provide an efficient strategy for

By Mr. George-Sp. C. ATHANASOPOULOS the Grand Duchy’s economic diplomacy, as well as to enhance the external Harvard University, Graduate School of Design, Student, competitiveness of Luxembourg economy the world C. stage.

By Mr. in George-Sp. ATHANASSOPOULOS Architect Student of the School of Architecture

106

2.2 The Import dimension Technical University of Crete Luxembourg has always experienced a deficit in the balance of trade and approach: Defining the concept this1.isIntroductory not surprising due to its small territory and its affluent society, in need 1.

Introductory approach: Defining the concept of consumption.

As mentioned recent World Bank World Trade ANTISTHENIS, the ancient in Greek philosopher, (444 BC - Integrated 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC was -“principle”: 370only BC, around Athens), among other wisestatistics, heritage he left us,in he established a great the Solutions (WITS) however, 2016 its imbalance among other wise he leftthe us,definition he established a (2017), greatof“principle”: the acquisition of knowledge starts with of the content concepts.

USD 6 billion.

In fact,heritage World Economic Outlook Database UN comtrade acquisition of knowledge starts with theindefinition the content ofall concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term (2016) and National Statistical Institute of Luxembourg (2016), show the 1 (and urban Based, therefore, on this “principle” inindicated afive first, if (in notwhich final, approach, the term gentrification) is the area Planning) (or gentrification decreasing trend in imports over the last years is of due to various 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various internal and external factors. Indeed, the country evolved into a mixed Sociology as well), the “refining” of a city area, the fromthere this, (inartists, various ways), of social groups, usually of low-income andbased theremoval placement of manufacturing andasservice economy, mainly on finance.

The trade ways), of social groups, usually of low-income and the placement there of artists, the operation art galleries, restaurants, However this “change”, regardless of balance with of other EU countries is very etc. polarised.

The overwhelming majority the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the of the nation's trade has been with its EU partners. In terms of imports, theof whatever otherspeculation). consequences has, results also rising of land prices (and the potential picture isrelative the same due the geographical position of Luxembourg. In fact, as potential relative speculation).

The term is found at firstDatabasein the UK WITS in early 1960s and refers to estimated bygentrification World Economic Outlook (2017), UN itcomtrade The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor (2016), and the National Statistical Institute of Luxembourg (2016), the major the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof partners exporting to stay the themselves Grand Duchy are Germany Belgium London, upgrade them, sometimes there and(24,37%), thus old residents are being indirectly “squeezed”.

(22,90%) and France (11,52%), followed by the Netherlands (3,39%), Italy being indirectly “squeezed”.

A description of this phenomenon in the work of Sociologist Ruth (2,69%) and UK (1,67%).

(Graph 3) isisincluded A description ofperiod, this phenomenon included inwere the recorded work of Sociologist Ruth GLASS at the same while similar situations in other major Graph 3: same Luxembourg - geographic distribution of imports GLASS at the period, while similar situations were recorded in other major cities in Western countries, by other Researchers. cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more Since then, the issue has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups to “return” to the city, leaving the purlieus for several reasons: high costs in money and time to travel from the purlieus to downtown, where work place is, lack of the termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Youth Unemployment. The same year she left Germany and after continuous movements for lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University informal College of London, where she continued her social research. brokers Her public and long-term effort by organized groups, manufacturers, ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G.WITS, ALEXANDRI: Abstract. http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order to achieve the “assisted”, “voluntary”, (actually Source: Comtrade?

STATEC

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

In dealing with imports, as well as with exports, one can distinguish between trade relations inside and outside the EU. (Table 5), whereby totals of import flows to Luxembourg from other EU Member States are significantly higher compared to imports from the rest of the world. (Table 6). In fact, EU nations have provided 74,75% of Luxembourgish imports in 2016. On the other hand, the considerable amount of goods and services coming from countries like the US, Canada, Switzerland, China and Japan is not to be

By Mr. George-Sp. C. ATHANASOPOULOS underestimated. To deeply study these results, it is important to consider Harvard University, Graduate School of Design, Student, what specific goods and services By areMr.demanded affluent Architect internal George-Sp.byC. the ATHANASSOPOULOS market of the Grand Duchy.

Student of the School of Architecture Technical University of Crete

Table 5: Luxembourg - total imports from EU in USD 1. Introductory approach: Defining the concept 1. Introductory approach: the concept (444 Partner Name ImportDefining (US$ Thousand) % ofBC totalimports ANTISTHENIS, the ancient Greek philosopher, - 370 BC, Athens), World 19123618,19 100,00% ANTISTHENIS, the ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established a great the Germany 4659853,89 24,37% among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the Belgium 4379548,94 22,90% acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term France 2202919,25 11,52% 1 Based, therefore, on this “principle” is inindicated a first, if (in not final, approach, the term (and urban gentrification) the area of Planning) (or gentrification Netherlands1 (and urban 649093,29 3,39% gentrification gentrification) indicated (in thefrom areathis, of Planning) (or Sociology as well), as the “refining” of a cityisarea, the removal (in various Italy 514270,68 2,69% from this, (in various Sociology as well), as the “refining” of a city area, the removal ways), of social groups, usually of low-income and the placement there of artists, United 319889,30 1,67% ways), of Kingdom social groups, usually of low-income and thethis placement of artists, the operation of art galleries, restaurants, etc. However “change”,there regardless of Spain 273230,28 1,43% the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and theof Poland other consequences 249788,45 1,31% whatever potential relative speculation). has, results also rising of land prices (and the Czech Republic 190267,02 0,99% potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to Luxembourg 136745,14 0,72% The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the Austria then observed trend126394,23 ofiswealthy to buy property in poor the then observed trend of wealthy sometimes people to there buy 0,66% property in poor areas London, upgrade them, stay themselves and thus old residents areof Swedenupgrade them, stay 94472,01 0,49% London, themselves sometimes there and thus old residents are being indirectly “squeezed”.

Hungary 93902,28 0,49% being indirectly “squeezed”.

APortugal description of this phenomenon is included in the0,45% work of Sociologist Ruth 85873,49 A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major Ireland 82484,94 0,43% GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

Denmark 51906,16 0,27% cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars Slovakia 51298,35 0,27% and for its more Since then, the issue has preoccupied several below, scholars and for its more comprehensive approach are being summarized Finland 35739,23 0,19% from the various comprehensive approach are being summarized below, from the various interpretations of the phenomenon following: Romania 24490,75 of gentrification, the 0,13% interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups Greece 18897,77 0,10% to “return” the purlieus for several reasons: Sloveniato the city, leaving 18734,57 0,10% high costs in money and Lithuania time to travel from the purlieus to downtown, where work place is, lack of the 10145,49 0,05% 1.of The termat comes from6776,81 Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense safety the distributed residencies outside town centres, Croatia 0,04% Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Latvia 0,03% Youth Unemployment. The 6314,00 same year she left Germany and after continuous movements for lower living cost of, “withdrawal” from private car easier access markets, etc.where Bulgaria 4720,53 0,02% studies and research in Geneva, Prague, London and New York she came to back to London, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and Cyprus 2885,48 0,02% University informal where she continued her social research. brokers and long-term effort1905,19 by organized groups, manufacturers, buying EstoniaCollege of London, 0,01% Her publicofaction her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in Malta 1465,19 0,01% 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually Source: WITS

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

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Table 6: Total imports from non-EU in USD UnitedStates 1266979,23 6,63% Japan 501744,45 2,62% China 472219,25 2,47% Canada 238781,88 1,25% Switzerland 227341,09 1,19% Indonesia 107903,23

By Mr. George-Sp.0,56% C. ATHANASOPOULOS Vietnam 99771,50 0,52% of Design, Student, Harvard University, Graduate School

By Mr. George-Sp.0,49% C. ATHANASSOPOULOS Sweden 94472,01 Architect Student of the School of Architecture South Asia 90296,04 0,47% Technical Korea, Rep. 88383,09 0,46% University of Crete Brazil 70959,00the concept 0,37% 1. Introductory approach: Defining Turkey 58958,10 0,31% 1. Introductory approach: the concept (444 ANTISTHENIS, the ancientDefining Greek philosopher, BC - 370 BC, Athens), Indiawise heritage 57026,18 0,30% ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other he left us, he established(444 a great the among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the Source: WITS acquisition of knowledge starts with theconsumer of the content of concepts.

Based, therefore, on this “principle” indefinition a first, ifgoods not final, the term Imported products are mainly andapproach, services such as 1 (and urban Based, therefore, on this “principle” in a first, if not final, approach, the term gentrification) is indicated (in the area of Planning) (or gentrification food and beverage, clothing, furniture and household appliances, personal 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a cityequipment area, the removal from this,These (in various electronics, communication, transport and services. are Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income placement there of artists, followed by capital goods and raw materials. and The the nation also strongly depends ways), of social groups, usually of low-income thethis placement there of artists, the operation of art galleries, restaurants, etc. However “change”, regardless of on energy from other countries.

Imports areand also influenced by significant the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the cross-border flows of workers, thus consumers of goods and services. Inof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative Luxembourg, the number of these people, called frontaliers , has reached the potential relative speculation).

The term is found first in the UK inCommission, early 1960s and it refers to record scoregentrification of 176.000 per day inat2015 (European 2016 Annual The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor Report on intra-EU Labour Mobility: p.80). the then observed trend wealthy sometimes people to there buy property in poor areas London, them, stay of themselves and thus old residents areof Toupgrade conclude, despite adoptionsometimes of common trade and practices London, upgrade them, staythe themselves there andrules thus old residents are being indirectly “squeezed”. has eased the “squeezed”. ability to conduct foreign trade, Luxembourg invests a being indirectly A description of this phenomenon is included in theMany work of of Sociologist Ruth significant amount resources in trade diplomacy. functions of A description ofof this phenomenon is situations included inwere the recorded work ofthe Sociologist Ruth GLASS at the same period, while similar in other major embassies and consulates such as providing information, building trust or GLASS at the same period, situations were recorded in other major cities in Western countries, bywhile othersimilar Researchers. public involvement matter by asother muchResearchers. for imports as for exports. According to cities in Western countries, Since then, the issue has preoccupied several scholars and for its more van Since Veenstraet (2011), attracting business and imports the then,al.the issue indeed, has several below, scholars andtowards for various its more comprehensive approach arepreoccupied being summarized from the domestic economyapproach is considered to besummarized an essentialbelow, function of the economic comprehensive are being from various interpretations of the phenomenon of gentrification, the following: diplomacy.

Each year, it is strengthened by a number of high-level visits and interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups specific trade missions to maintain the existing diplomatic connections and to “return” to the city, leaving the purlieus for several reasons: high costs in money create new ones.

The responsible institutions and agencies (Ministry of and time to travel from the purlieus to downtown, where work place is, lack of the Foreign and European Affairs, Ministry ofoutside Economy, of Commerce, 1.of The term from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS wasbetter born in sense safety atcomes the distributed residencies townChamber centres, for Berlin, where she made her first studies.

In 1932and she take published an important study entitled: Luxembourg Trade & Invest, etc) organize part in numerous business services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same year she left can Germany and after continuous about events andcost fairs where companies gather information new lower living of, “withdrawal” from private car easier access to markets, etc. studies and research in Geneva, Prague, London and New York she came back to London, where opportunities and establish profitable partnerships during round tables.

In in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University College of London, where she continued her social research.

Her public action and 2017, as reported the by Official Agenda of Foreign Trade bybrokers the Chamber of long-term informal in effort organized groups, manufacturers, of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. Commerce Luxembourg, a wide range of above-mentioned occasions took and selling real estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. COLLINS SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification 3. Foreign direct investment Concerns FDI has been an important factor in spurring economic growth due to its

place both in Europe and worldwide to deepen further exchanges and cooperation between Luxembourg and foreign markets. beneficial impacts on national economies. As indicated in Economy Watch (2010), FDIs can contribute to creating new jobs, technological improvements,

By Mr. George-Sp. C. ATHANASOPOULOS boost regional development processes and allocate resources more efficiently Harvard University, Graduate School of Design, Student, (transfer of knowledge and humanByskills).

It also plays a role in attracting Mr. George-Sp. C. ATHANASSOPOULOS Architect additional tax incomes and helps integratingStudent regional businesses supply of the School ofinto Architecture chains of transnational companies. According to Technical Loungani,University P., &Razin, A. of Crete (2001), foreign capital flows have shown to be more resilient compared to 1. Introductory approach: Defining the concept other financial flows, due to them getting repriced in times of crisis. Arrival of 1.

Introductory approach: Defining the to concept a foreign company the onancient a market leads a higher competitiveness and ANTISTHENIS, Greek philosopher, (444 BC - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -itself.

370 BC, Athens), among other wise heritage he left us, he established a great “principle”: the subsequently a higher competitiveness of the economy FDI's are among other wise heritage leftthe us,definition he established a great the acquisition of knowledge starts with of the content of“principle”: concepts.spillnecessary for developing andhe developed countries as they have positive acquisition of knowledge starts with thein definition the content concepts.

Based, therefore, oneconomy this “principle” a first, if of not final, approach, the term over effects from the to the technological sector andofsubsequently 1 (and urban Based,development therefore, onofthis inwhole. a first, if (in notthe final, approach, the term gentrification) indicated area of Planning) (or gentrification stimulate the“principle” society as ais 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various The volume of investments in a certain country depends on many Sociology as well), as the of anegative city area, the fromthere this, of (in various ways), ofwhich social groups, usually of low-income and theremoval placement factors can have a“refining” positive or effect on investments.

Inartists, most ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. thisinvestment “change”, regardless of cases governments have a big influence onHowever their own climate.

In the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the order to get a better understanding of a capital expenditure environment it isof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative firstly needed to present a few definitions. According to Warrick Smith and potential relative speculation).

TheHallward-Driemeier, term gentrification is(2005) found at first in the UK climate in early presents 1960s and»the it refers to Mary the investment set of The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor location-specific factors shaping the opportunities and incentives for firms to the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and old residents areof invest productively, create and expand—focused on thus broad indicators London, upgrade them, stayjobs, themselves sometimes there and thus old residents of are being indirectly “squeezed”. country risk, often based on surveys of international experts and usually being indirectly “squeezed”.

A description of thisscore phenomenon is included in As the argued work of by Sociologist Ruthresulting in a single for each the EBRD A description ofperiod, this phenomenon iscountry. included inwere the recorded work of Sociologist Ruth GLASS at the same while similar situations in other major Investment climate and governance, “moreover, the recorded European Bankmajor for GLASS at the same period, while similar situations were in other cities in Western countries, by other Researchers.

Reconstruction and Development states the investment climate is defined »by cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more a wide range of factors thatpreoccupied determine several whetherscholars domestic foreign Since then, the issue has andand for various its more comprehensive approach are being summarized below, from the investment happens: by the soundness of macroeconomic policies, the comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: strength of economic and political institutions, the functioning of the legal and interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups regulatory framework, the quality of infrastructure and other services, to “return” to the city, leaving the purlieus for several reasons: high costs in money amongst others”. and time to travel from the purlieus to downtown, where work place is, lack of the The relevance of Sociologist Foreign Direct Investments (FDI) for the The term from Ruth GLASS, 1912-1940.

Ruth search GLASS wasglobal born in sense1.of safety atcomes the distributed residencies outside town centres, for better Berlin, where shebeen made her first studies.

In 1932 she published an important study entitled: economy has massively emphasized since the 1990s because of services of health, education, entertainment “at the heart of the city”,movements (possibly) Youth Unemployment.

The same year she left Germany and after continuous for globalization and more particularly, more capital flows around the world. lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, Policy-makers, both developed and emerging have increasingly in According 1943 she published studies regarding city planning.economies, In 1950 sheto became teacher in the toinanother approach, the phenomenon is due a systematic and University College of London, where she continued her social research.

Her public and made more effortseffort to attract FDI. Some of their policies include and long-term informal by organized groups, manufacturers, brokersfiscal ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. financial incentives well as depreciation measures to enhance theof local regulatory and selling realCOLLINS estate, as etc., for the initially of part the urban web, in 10th edit. Wil. SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: environment and the costs of doing business (UNCTAD, 1999).

The rationale G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

110

behind these policies stems from the empirically proved positive effects of inward FDI for the host economy. Some of these effects include, inter alia, productivity gains, technology transfers, the introduction of new processes to the domestic market, managerial skills and know-how, employee training, international production networks, and access to markets (Alfaro et al., 2000).

However, FDI's contributions to the development of a country are highly dependent on domestic market conditions of the host economy determining

By Mr. George-Sp. C. ATHANASOPOULOS not only the quantity but also the quality of FDI. These conditions Harvard University, Graduate School of Design, Student, embrace−but are not limited to− theBypolicy environment of the local country, Mr. George-Sp. C. ATHANASSOPOULOS Architect productive assets available, the stock of human capital, and Student of theinfrastructures, School of Architecture development of local financial markets fostering access to credit (GuglerP. & Technical University of Crete Brunner, S., 2007, McKinnon, R. I., 1973). In this regard, the Grand Duchy of 1. Introductory approach: Defining the concept Luxembourg presents all these conditions to attract high quality FDI. As this 1.

Introductory approach: Defining the concept (444 current paper underlines, Luxembourg represents a truly story as a ANTISTHENIS, the ancient Greek philosopher, BC success - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among other he left us, he established a inward great the country whichwise hasheritage increasingly strived benefits from foreign direct among other wise heritage he left us, he established acompetitive greatof“principle”: the acquisition ofThis knowledge starts with the definition of concepts. investment. success is not only explained bythe thecontent domestic acquisition ofcountry, knowledge starts with theefforts the content of concepts.

Based, on but this “principle” indefinition a first, if of not final, approach, the term market of therefore, the also by the of policy-makers and specialized 1 (and urban Based, on this “principle” inideal a first, if (in notthe final, approach, the and term gentrification) indicated area of Planning) (or gentrification agencies totherefore, promote Luxembourg as anis destination for FDI. Time 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various space concerns prevent this paper from providing a complete detailed picture as well), as the “refining” of aevolution, city area, from this, of (in various ways), social groups, usually of low-income andthe theremoval placement there artists, ofSociology the of Luxembourgish economy, its and the role played by FDI. ways), of social groups, usually of low-income and the placement there of artists, the operation ofitart galleries, restaurants, this “change”, of Nevertheless, offers a good summaryetc. ofHowever the country situation regardless in terms of the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the inward foreign direct investment, the main actors in the promotion of theof whatever otherspeculation). consequences has, results also rising of land prices (and the potential country’srelative economy, and the main strengths of the economy to attract potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to investors.

The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof 3.1 upgrade Outward foreign investment London, them, stay direct themselves sometimes there and thus old residents are being indirectly “squeezed”.

Following the 4th edition of the benchmark definition of FDI given by being indirectly “squeezed”. description of2008), this phenomenon is included in the work ofinvestment Sociologistmade Ruth theAOECD (OECD, FDI “is a category of cross-border A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major by a resident insame one economy (the similar direct investor orwere parent) with the objective GLASS at the period, while situations recorded in other major cities in Western countries, by other Researchers. ofcities establishing acountries, lasting interest in an enterprise (the direct investment in Western bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more enterprise or affiliate) thathas is resident in anseveral economy other than thatits ofmore the Since then, the issue scholars andthe for comprehensive approach arepreoccupied being summarized below, from various direct investor”. As the name already implies, outward FDIfrom are the the various direct comprehensive approach are being summarized below, interpretations of the phenomenon of gentrification, the following: investments (expressed in year-endofstocks, income and annual flows) that the interpretations the phenomenon thecategory following: In a sense, theof phenomenon is due togentrification, a trend of a new of social groups domestic companies are investing in a foreign partner country.

Outward FDI to “return” to the city, leaving the purlieus for several reasons: high costs in money can take different forms: by building up an operational branch of a domestic and time to travel from the purlieus to downtown, where work place is, lack of the company fromatcomes the ground in residencies a foreign country or by aRuth foreign company’s 1.of The term from Sociologist Ruth GLASS, 1912-1940.

GLASS wasbetter born in sense safety the distributed outside town centres, search for Berlin, wheremerger she made her first studies.

In 1932 she published an important study entitled: acquisition, or expansion by the domestic company. services of health, education, entertainment “at the heart of the city”,movements (possibly)for YouthReasons Unemployment.

The same year she left FDI Germany and afterand continuous for carrying out outward are various dependent on the lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research in Geneva, Prague, London and New York she came back to London, investors position and possibilities: investors from developed countries, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University College of London, where she continued her social research.

Her public and which areinformal usually in theby possession of sufficient capital forbrokers investment, are long-term effort organized groups, manufacturers, ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. profiting from “market andthe trade conditions, production costs, domestic and selling realCOLLINS estate, etc., for depreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: business conditions, and home government policies” (Al-Sadig, A.J., 2013) and G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

/ or more generally from the access to further resources and new markets, which is especially lucrative, if the domestic market is already saturated.

Investors from developing economies can additionally profit from “intangible capabilities in the form of additional knowledge, skills, technological upgrading, managerial expertise and a brand’s goodwill” (Knoerich, J., 2017).

As developed countries are in a more beneficial economic position for investing, they still represent today the most important source of outward FDI

By Mr. George-Sp. C. ATHANASOPOULOS in the world, as they make out around 72 to 74 % of outward FDI in 2015 Harvard University, Graduate School of Design, Student, (UNCTAD, 2017). However, developing countries haveC.shown to profit from

By Mr. George-Sp. ATHANASSOPOULOS Architect their outward FDI returns as well and thus showed a rapid increase in the past Student of the School of Architecture years (Knoerich, J., 2017). This fits the observation, that the worldwide FDI did Technical University of Crete increase as a result of globalisation and the promotion of free capital flow 1. Introductory approach: (Andersen, C. J.et al., 2013). Defining the concept 1.

Introductory approach: Defining the concept Developing countries have a become a significant recipient of outward ANTISTHENIS, the ancient Greek philosopher, (444 BC - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -“principle”: BC, Athens), among wise heritage he lefttous, he established a great the FDI andother the investments carried their economy represent a370 key source of among other wise heritage leftthe us,definition he 2017), established a greatof“principle”: the acquisition of knowledge startshe with of the content concepts. their financial development (UNCTAD, explainable among other acquisition of knowledge starts with theindefinition the content of concepts.

Based, the therefore, on this “principle” atofirst, not final, approach, the term through worldwide commitment theif of promotion of sustainable 1 (and urban Based, therefore, on this “principle” inindicated a first, if (in not final, approach, the term gentrification) is the area of the Planning) (or gentrification development, the demand for the opening of new markets or need for 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various more resources. This dependency however, can especially lead in developing Sociology well), as the “refining” a city area, removal this, (inartists, various ways), of social groups, usually of low-income andthe the placement of countries toasinfluential takeovers ofofforeign states and actorsfrom onthere far more than ways), of social groups, usually of low-income and the placement there of artists, the art galleries, restaurants, of the operation economicof level (UNCTAD, 2017). etc. However this “change”, regardless the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the The Luxemburgish outward FDI follows the example of the alreadyof whatever otherspeculation). consequences has, results also rising of land prices (and the potential portrayedrelative inward FDI and attests once more Luxembourg’s remarkable potential relative speculation).

The termsituation gentrification is found at first in the UK in early 1960s and it refers to economic and high interconnection with foreign markets (OECD, The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor 2017). With an outward FDI stock of 353 % and outward FDI flows of 59,30 % the then observed trend of wealthy people to there buy property in poor areas London, upgrade them, stay in themselves and thus residents areof ofLondon, the country’s total GDP 2016, thesometimes results lie far above theold average of the upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

European Union “squeezed”. (stocks of 57 % and flow of 2,86 % of GDP), the US (stocks of being indirectly this%) phenomenon is included the work of Sociologist Ruth 34 A %Adescription and flow ofof 1,61 or China (stocks of 12 in % and flow %) (OECD, description ofperiod, this phenomenon is situations included inwere the recorded workof of1,97 Sociologist Ruth GLASS at the same while similar in other major 2016a + 2016b).

GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

However, this unusual is connected to some inconsistence, as cities in Western countries, byoutcome other Researchers.

Since then, the issue has preoccupied several scholars and for its more Luxembourgish flows are characterized by an elevated volatility: Since then, outward the issueFDI has several below, scholars andthe for its more comprehensive approach arepreoccupied being summarized from various while the world approach average ofare outward FDI flows inbelow, the last decade was comprehensive being summarized from the various interpretations of the phenomenon of gentrification, the following: continuously stable and ranged between a minimum of 1,65 % and a interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups maximum of 2,70 % of total GDP, the Luxembourgish outward FDI numbers to “return” to the city, leaving the purlieus for several reasons: high costs in money faced numerous mosttodramatic being in 2008 as a result and time to travel crashes, from the the purlieus downtown, where work place is, lackof of the the world economy crisis, during which the Luxembourgish outward flow, 1.of The termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth GLASSFDI wasbetter born in sense safety the distributed residencies outside town centres, search for Berlin, where reached she made aher firstof studies. important study after having peak 144 %Inof1932 GDPshe inpublished 2007, fellan dramatically to entitled: 21 % services of health, education, entertainment “at the heart of the city”,movements (possibly) Youth Unemployment.

TheThis samevolatility year she left Germany and after continuous of GDP (OECD, 2016a). is however explainable, as FDI flows canfor lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, vary dueshe to published large mergers and acquisitions and asInLuxembourg is being home in According 1943 studies regarding cityphenomenon planning.

1950 sheto became teacher in the to another approach, the is due a systematic and University College of London, where she continued her social research.

Her public action and to many multinational and banks, which were highly long-term informal effortenterprises by organized(MNE’s) groups, manufacturers, brokers of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. affected during the world economy crisis. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

112

Considering the worldwide average outward FDI stocks, the values were 23,8 % of GDP in 2005 and, with an exceptional and non-consequential drop in

By Mr. George-Sp. C. ATHANASOPOULOS 2008, constantly increased to finally reach 38 % in 2016. Although the Harvard University, Graduate School of Design, Student, evolution of the Luxembourgish outward FDI stocks C. value was similar and

By Mr. George-Sp. ATHANASSOPOULOS Architect increased as well constantly since 2012, this process took place a total Student of the School of on Architecture different dimension: from 228 % in 2012 to the already mentioned 353 in Technical University of% Crete 2016, the tenfold of the EU-standard.

1. Introductory approach: Defining the concept In this regard, it is worth to compare Luxembourg with Ireland, which as 1.

Introductory approach: Defining the concept only country in thethe EUancient can show similar numbers and when it ANTISTHENIS, Greek philosopher, (444 BCevolutions - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among other wise heritage heFDI. left us, he established aLuxembourg, great the comes the country’s outward Ireland is, similar to known as among other wise heritage he left us,definition heimplications established aare great acquisition of for knowledge starts with the of the content of“principle”: concepts. tax heaven foreign MNE’s, which without doubt the a acquisition ofdriving knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term fundamental force of the country’s economy.

Being highly dependent 1 (and urban Based, therefore, on competitive this “principle” inindicated a first, if (in notthe final, approach, the term gentrification) area of Planning) (or gentrification on keeping the country to is attract investments of foreign MNE’s, 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various the range of Irish outward FDI is dependent on the countries inward FDI as Sociology as well), the “refining” of a city area, from this,flows (inartists, various ways), of social usually of low-income andthe theremoval placement there of well.

Similar togroups, theas case of Luxembourg, the Irish outward FDI and ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, etc. However this “change”, regardless of stocks are characterized by restaurants, a certain volatility and by key numbers per capita the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the ranging far above the World and EU-level. However, the Irish outward FDIof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative stocks (273 % of GDP in 2016) (OECD, 2016b) are still below the potential relative speculation).

The term gentrification found at firstFDI in the UK(57,23 in early and and it refers to Luxembourgish level and is the outward flows %1960s in 2015 14,61 The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor % in 2016) draw a picture that the Irish economy seems to be more the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and old residents areof vulnerable for the fluctuation due to the developments of thus the global economy London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

(OECD, 2016a). “squeezed”. being indirectly A description of thisforeign phenomenon included in the work of Sociologist Ruth Outward directisis investment: geographic and sectoral A3.1.2 description ofperiod, this phenomenon included inwere the work of Sociologist Ruth GLASS at the same while similar situations recorded in other major distribution GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

Bearing in mind Luxembourg’s outstanding outward FDI figures, it is no cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more surprise thethe small-state is playing a leading rolescholars on the EU as more it is Sincethat then, issue has several andlevel, for various its comprehensive approach arepreoccupied being summarized below, from the indeed carrying out 40 % of all the EU’ssummarized outward FDI below, flows. Infrom 2016, the total comprehensive approach are being the various interpretations of the phenomenon of gentrification, the following: ofinterpretations the Luxembourgish outward FDI amounted 4,192,454 Million Euro and the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups generated an income of around 17 % of GDP, which was mostly achieved via to “return” to the city, leaving the purlieus for several reasons: high costs in money activities of affiliates on the foreign markets (Eurostat, 2017). and time to travel from the purlieus to downtown, where work place is, lack of the As unfortunately noSociologist precise data found on how much outward FDIin The termat comes from Ruth was GLASS, 1912-1940.

Ruth GLASS wasbetter born sense1.of safety the distributed residencies outside town centres, search for Berlin, where she made her first studies.

In 1932 she published an important study entitled: was carried out by which precise Luxembourgish companies to which services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

Thethe same year she left Germany andthe after continuous countries orcost sectors in past years, only a car list easier of recipient countries lower living of, “withdrawal” from private access to markets, etc.and studies and research in Geneva, Prague, London and New York she came back to London, where sectors of Luxembourgish outward FDI can be given and discussed.

The 10 in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University College of London, where she continued her social research.

Her public action and most important countries, received 83,3 % of the total outward FDI long-term informal effort by which organized groups, manufacturers, brokers of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. from Luxembourg in 2016, were the followinginitially (STATEC, 2016b): and selling realCOLLINS estate, etc., for theCodepreciation of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009. WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

Table 7: Luxembourg – outward FDI – geographical distribution 2016 1) the US (992,655 Million Euro/ 23,67 % of Luxemburgishoutward FDI) 2) the UK (660,886 Million Euro / 15,76 % of Luxemburgishoutward FDI) 3) the Netherlands (656,377 Million Euro / 15,65 % of

By Mr. George-Sp. C. ATHANASOPOULOS Luxemburgishoutward FDI) Harvard University, Graduate School of Design, Student, 4) Switzerland (381,582 Million Euro / 9,10 % of C. ATHANASSOPOULOS

By Mr. George-Sp. Architect Luxemburgishoutward FDI) Student of the School of Architecture 5) Ireland (313,201 Million Euro / 7,47 % of Technical University of Crete Luxemburgishoutward FDI) 1. approach: Defining concept 6)Introductory Germany (106,705 Million Euro /the 2,54 % of 1.

Introductory approach: Defining the concept (444 BC - 370 BC, Athens), ANTISTHENIS, theFDI) ancient Greek philosopher, Luxemburgishoutward theMillion ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established a great the 7)ANTISTHENIS, Belgium (104,368 Euro / 2,48 % of among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the Luxemburgishoutward FDI) acquisition of(97,717 knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, not final, approach, the term 8) Cyprus Million Euro / 2,33 % of if of 1 (and urban Based, therefore, on this “principle” in a first, if not final, approach, the term gentrification) is indicated (in the area of Planning) (or gentrification Luxemburgishoutward FDI) 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various 9) France (97,523 Million Euro / 2,32 % of Sociology as well), as the “refining” of a city area, fromthere this, of (inartists, various ways), of social groups, usually of low-income andthe theremoval placement Luxemburgishoutward FDI) ways), of social groups, usually of low-income and the placement there of artists, the10) operation art galleries, restaurants, etc.% However this “change”, regardless of Canadaof(81,487 Million Euro / 1,94 of the operation of art galleries, restaurants, etc.

However this “change”, regardless of whatever other consequences has, results also rising of land prices (and the Luxemburgishoutward FDI) whatever other consequences has, results also rising of land prices (and the potential relative speculation). potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor Source:STATEC (2016b) the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

Table 8: Luxembourg – outward FDI – sectoral 2016 being indirectly “squeezed”.

A description of this phenomenon is included in the work of Sociologist Ruth A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major 1) Financial and insuranceactivities (3.397,116 Million Euro) GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

2) in Professional, scientific and technicalactivities (460,963and Million cities Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars for Euro) its more 3) Activities of head offices (447,567 Million Euro) Since then, the issue has preoccupied several scholars and for various its more comprehensive approach are being summarized below, from the comprehensive approach are being summarized below, from the various 4) Otherfinancial service activities (225,801 Million Euro) interpretations of the phenomenon of gentrification, the following: interpretations the retailtrade phenomenon of thecategory following: and (177,946 Million Euro) In5)a Wholesale sense, theof phenomenon is due togentrification, a trend of a new of social groups 6) Manufacturing (120,779 Million Euro) to “return” to the city, leaving the purlieus for several reasons: high costs in money 7) Information andthe communication (28,343 Million Euro)place is, lack of the and time to travel from purlieus to downtown, where work 8) Basic metals (28,257 Million Euro) 1.

The term comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense of safety at the distributed residencies outside town centres, Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Youth Unemployment. The same year she left Germany and after continuous movements for lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, in According 1943 she published studies regarding city planning.

In 1950 she became teacher in the to another approach, the phenomenon is due to a systematic and Source:STATEC (2016b) University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying Luxembourgish outward FDIforisjustice. predominantly carriedENGLISH out to developed her work are characterized by a passion See also: COLLINS DICTIONARY. and selling real estate, etc., for the depreciation initially of partofof the urban web, in 10th edit. Wil. COLLINS SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: economies.

The US, being the worldwide largest recipient outward FDI and Gentrification: G. ALEXANDRI: Abstract. wetzel/gentry.htm athe variety of ways, in order to achieve the holder “assisted”, “voluntary”, (actually world’s biggest economy, ishttp://www.uncanny.net/ the of the biggest share of

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

Luxembourgish investments. Speaking about the reasons why Luxembourgish domestic companies are investing outward FDI, we can undeniably see the dominance of the insurance, finance and banking sector, which suits the image of Luxembourg being the EU’s “most open economy” (Gouvernement du Grand-Duché de Luxembourg, 2017), while 80 % of exports are indeed services: investing and expanding into foreign markets, where Luxembourgish services are already being acquired, seems to be more than a logical step.

By Mr. George-Sp. C. ATHANASOPOULOS Furthermore, it seems that Luxembourgish investors are seeking to create Harvard University, Graduate School of Design, Student, branches and subsidiaries abroad inBy order to make business (especially in the Mr. George-Sp. C. ATHANASSOPOULOS Architect EU, where the investment activities are facilitated through the single market), Student of the School of Architecture while still profiting from the beneficent conditions on Luxemburgish territory Technical University of Crete and without being limited by the size of the domestic market of the small 1. Introductory approach: Defining the concept state.

1. At Introductory Defining theSpecial conceptPurpose this stage,approach: theancient importance (SPE’s) for ANTISTHENIS, the Greek of philosopher, (444 BCEntity - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, BC 370 BC, Athens), among other wise heritage he to leftbeus, he established a great the Luxembourg’s economy needs pointed out: not(444 only did-“principle”: SPE’s activities among wise heritage leftthe us, heincome established a greatof“principle”: the acquisition of knowledge startsahe with definition of the content concepts. from all other sectors generated very high of 3,131,687 Million Euro acquisition of knowledge with the the content of concepts.

Based, therefore, on this “principle” indefinition aoffirst, if of not final, approach, the term (STATEC, 2016a), but thestarts outward FDI SPE’s reached mostly countries, 1 (and urban Based, therefore, on this “principle” inindicated a alia first,the if (in not final, approach, the term gentrification) is the area of Planning) (or gentrification where SPE’s play a significant role (inter Netherlands or Belgium) 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various (Eurostat, 2017). Thus, more than 74 % of the total of Luxembourgish Sociology as has well), “refining” of a SPE’s, city area, the from this, of (indue various ways), of social groups, usually of low-income and theremoval placement there artists, outward FDI toas bethe associated with which are up for criticism to ways), of social groups, usually of low-income and the placement there of the of art restaurants, etc.assets However this “change”,free. regardless of the operation possibility of galleries, transferring financial consolidation Inartists, this the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the regard, it is worth mentioning that offshore-finance centres were recipients ofof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative Luxembourgish outward FDI as well, although with a minor share of 5,716 potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to Million in 2016 (STATEC, 2017a).

The term gentrification is found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property inrise poor Furthermore, all listedwealthy sector experienced a continuous in the last the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof years: especially the results of the financial and insurance activities and the London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. professional, scientific and technical activities are outstanding as their income being indirectly “squeezed”. description of this phenomenon is included in the work ofthis Sociologist Ruth hasAA almost doubled since 2012 (STATEC, 2016a).

However, development description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major appears less surprising considering the importance of the banking sectormajor for GLASS at the same period, while similar situations were recorded in other cities in Western countries, by other Researchers. the Luxembourgish economy and that the most attractive sectors for cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more companies from the developed countries are including services and technologySince then, issue has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from based activities (UNCTAD, 2017). comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups 3.2 Inward foreign direct investment to “return” to the city, leaving the purlieus for several reasons: high costs in money Last on the Luxembourg FDI where highlywork emphasize and time to figures travel from purlieus toinward downtown, place is,an lackoverall of the good1.of performance the Sociologist country economy.

The1912-1940. inward FDI stock – the value The termat comes from Ruth GLASS, Ruth GLASS wasbetter born in sense safety theof distributed residencies outside town centres, search for Berlin, whereinvestors’ she made her first studies.

In 1932 she published an importantresident study entitled: of foreign equity in and net loans to companies in services of health, education, entertainment “at the heart of the city”,movements (possibly) Youth Unemployment.

The same year is sheworth left Germany and after continuous for Luxembourg for the year 2016 351% of total GDP: an outstanding lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, result, especially if compared with other developed (35%),in UK in According 1943 she published studies regarding cityphenomenon planning.

In economies: 1950 sheto became teacher the to another approach, the is due a U.S. systematic and University College of London, where she continued her social research.

Her public action and (53%), Germany and France groups, (28%) manufacturers, (OECD, 2016a).brokers Similarof figures long-term informal(23%) effort by organized buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

appear when comparing inward FDI flows2 as share of GDP for the year 2016; while in Luxembourg such value stands at 65% of GDP, in other countries it is markedly lower: U.S. (2.5%), UK (9%), Germany (0.3%), and France (1.1%) (OECD, 2016a).

3.2.1 Inward foreign direct investment: geographical and sectoral distribution

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student, More precisely, a report published by the Institut nationalArchitect de la

By Mr. George-Sp. C. ATHANASSOPOULOS statistiqueet des etudes économiques duStudent Grand-Duché de Luxembourg of the School of Architecture (STATEC) in 2013 identifies the main contributors to theUniversity country'sof Crete FDI Technical

activities. A major role is played by “Special Purpose Entities (SPEs)", i.e.

1. Introductory approach: Defining concept activities of transferring capital fromthe non-residents to other non-residents 1.

Introductory approach: Defining the concept which employ little or staff and have little or no(444 productive in the ANTISTHENIS, theno ancient Greek philosopher, BC - 370activity BC, Athens), the ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among other wise heritage he SPEs left us, he established a on great the hostANTISTHENIS, economy.

However, as have little effect national economy among other wise heritage he leftthe us,definition he a greatof “principle”: the acquisition of knowledge starts with theamount content concepts. activity, they statistically distort data onestablished the of real of inward FDI. acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, this “principle” a first,FDI if of not final, approach, the term Therefore, once SPEon activity is deducted from data, Luxembourg loses its 1 (and urban Based, therefore, on inward this “principle” initindicated aremains first, if (in not final, approach, gentrification) ofspot Planning) (or gentrification leadership position for FDI, butis inthe thearea top asthe farterm as 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various commitments per capita go with 229 million euros, ahead of the UK (137,000 Sociology as well), asKong the “refining” of aeuros) city area, the fromthere this, (inartists, various ways), ofand social groups, usually of low-income and theremoval placement of euros) Hong (103,000 (Genson, 2013).

Other large ways), of social groups, usually of low-income and the placement there of the operation of art galleries, etc.

However this “change”, regardless of contributors correspond torestaurants, well-known companies, many of which areartists, also the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the the main employers of the Luxembourg economy such as Amazon,of whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative ArcelorMittal, BGL BNP Paribas, Cargolux, Delphi Automotive, DuPont de potential relative speculation).

The termDussmann, gentrification is found at first inG4S the UK in early Husky, 1960s and refers to Nemours, Compass Group, Security, JPit Morgan, The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor Mercedes-Benz, RTLgroup, or Vodafone. the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

This list also suggests that the main investors in Luxembourg are the being indirectly “squeezed”.

A description of this phenomenon is included the work of the Sociologist OECD member countries with a stable share ofinin 98%: while share ofRuth the A description ofperiod, this phenomenon is situations included the recorded work of Sociologist Ruth GLASS at the same while similar were in other major European Union amounts at nearly 83%, the United States are the largest nonGLASS at the same period, situations were recorded in other major cities in Western countries, bywhile othersimilar Researchers.

EU investor in Luxembourg with aResearchers. relative share of 16% (2000) and 11% cities in Western countries, by other Since then, the issue has preoccupied several scholars and for its more (2005, 2010) respectively 2013). Finally, STATEC analysis of its inward Since then, the issue (Genson, has several scholars andthe for more comprehensive approach arepreoccupied being summarized below, from various FDI stocks between 1995 and 2012 identifies the main interested sectors: comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: banking, insurancetheand manufacturing.

While in 1995 inward FDI for the interpretations phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups banking sector accounted for 43% of the total, seventeen years to “return” to the city, leaving the purlieus for several reasons: highlater, costs it inalmost money doubled (76%), thus confirming the dominance of the banking sector and time to travel from the purlieus to downtown, where work place is, lackin of the the Luxembourg economy 2016c).

By 1912-1940. contrast, investments inbetter thein 1.of The termat comes from(STATEC, Sociologist Ruth GLASS, Ruth GLASS for was born sense safety the distributed residencies outside town centres, search Berlin, where she made her firststable studies.

In 1932the shesame an important study while entitled: insurance remained during period (nearly 4%), services of sector health, education, entertainment “at published the heart of the city”,movements (possibly) Youth Unemployment.

The same year she left highest Germany increase and after continuous manufacturing is the sector with the of inward FDI: if itfor lower living cost of, in “withdrawal” from private access markets, etc. studies and research Geneva, Prague, London and car Neweasier York she came to back to London, where accounted only 15% of the totalthe in 1995, it more doubled during in the in According 1943 shefor published studies regarding cityphenomenon planning.

In 1950 she teacher the to another approach, isthan due tobecame a systematic and University College of London, where she continued her social research.

Her public action and following years peaking of totalgroups, inwardmanufacturers, FDI (STATEC, 2016d). long-term informal effortatby37% organized brokers of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit.

Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: 2 the value of cross-border transactions increasing the investment that foreign investors have G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually in enterprises resident in the host economy.

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

116

Part of this success is due to the constant efforts by a number of actors in the field of economic promotion. Though such actors do not only deal with issues regarding inward FDI, we shall briefly present them in relation to this topic. First, Luxembourg for Business and Innovation (Luxinnovation) is an official agency run by the government which promotes the Grand Duchy as a platform for foreign investors and constantly publishes documentations on the country’s economy (Luxinnovation). Similarly, Luxembourg for Finance is

By Mr. George-Sp. C. ATHANASOPOULOS an institutional agency for the promotion of the local financial sector Harvard University, Graduate School of Design, Student, providing information on products andGeorge-Sp. services for potential investors

By Mr. C. ATHANASSOPOULOS Architect (Luxembourg for Finance). Third, the National Credit and ofInvestment Student of the School Architecture Institution is a public-law banking establishment for the financing of Technical University of Crete Luxembourg based companies providing, inter alia, subsidies and loans to 1. Introductory approach: Defining concept newly incorporated or inherited SMEs the (SNDI).

Fifth, the Luxembourg Chamber 1.

Introductory approach: Defining the concept of ANTISTHENIS, Commerce: it assists companies to settle in Luxembourg, thus the ancient Greekwishing philosopher, (444 BC - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, among other wise heritage hewith left us, he established athe great the providing potential investors documentations on(444 economic andAthens), social among other heritage he leftthe us,definition he the established a greatof“principle”: the acquisition of knowledge starts with of the content concepts. environment ofwise the country (LCC).

Finally, various Luxembourg Trade and acquisition of knowledge starts with theindefinition the content ofSeoul, concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term Investment Offices set outside Europe (e.g.

Dubai, New York, Tokyo, 1 (and urban therefore, on this in a first, ifin not final, approach, the term gentrification) indicated (in the area of Planning) (or gentrification etc.)Based, offer their assistance to“principle” potential is investors Luxembourg concerning 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various investment opportunities, the establishment of a company, its financing and Sociology as well), as the “refining” of a city area, fromthere this, of (inartists, various ways), of social groups, usually of low-income andthe theremoval placement questions about recruitment (LTIO). ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless of whatever other consequences has, results also rising of land prices (and the 3.2.2 Reasons for attracting inward foreign direct investment whatever other consequences has, results also rising of land prices (and the potential relative speculation). potential relative speculation).

TheAs term gentrification is found at first in by theLuxinnovation UK in early 1960s and itthere refersare to reported by an official document (2017), The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor ten main reasons to choose to invest in Luxembourg. First, given its the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof geographical location, Luxembourg represents “anthere excellent gateway” to easily London, upgrade them, stay themselves sometimes and thus old residents are being indirectly “squeezed”. reach the major“squeezed”.

European markets corresponding to 60% of the EU’s GDP. being indirectly A description this phenomenon is includedspecialization in the work of in Sociologist Ruth This further of facilitated by the country’s cross-border Aisdescription ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major activities which makeperiod, the Grand Duchy the third most globalized economy in GLASS at the same while similar situations were recorded in other major cities in Western countries, by other Researchers. the world (2017 KOF Index of Globalisation).

Second, flexible and attractive cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more legalSince framework andissue policies as well as open-mind public authorities and then, the has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from administrations make Luxembourg a truly businessbelow, friendly economy.

For comprehensive approach are being summarized from the various interpretations of the phenomenon of gentrification, the following: example, the government has established a community income tax and interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups business tax exemption up to 25% for the first 8 years for start-up businesses. to “return” to the city, leaving the purlieus for several reasons: high costs in money Third, with the 2nd lowest government debt ratio in the EU (Eurostat, 2017), a and time to travel from the purlieus to downtown, where work place is, lack of the consistent growth EUresidencies average (Luxinnovation, 2017), and as the 8thin 1.of The term from the Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS was born sense safety atcomes theabove distributed outside town centres, for better Berlin, where she made her first studies. In2017b)), 1932 she Luxembourg published an important study entitled: most competitive economy (STATEC, presents itself as a services of health, education, entertainment “at the heart of the city”,movements (possibly) Youth and Unemployment.

The samefor year she left Germany and after continuous for stable reliable economy international companies looking for economic lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, certainties.

Fourth, theapproach, dynamism of the Inlabour market and in the in According 1943 she published studies regarding cityphenomenon planning.

1950 sheto became teacher the to another the is due a systematic and University College of London, where she continued her social research.

Her public action and competitiveness of effort the salaries make the Grandmanufacturers, Duchy a highly attractive work long-term informal by organized groups, brokers of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. environment appealing highly employees andofemployers from abroad. and selling realCOLLINS estate, etc., for theskilled depreciation initially part of the urban web, in 10th edit. Wil. SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: Indeed, according to Expat Insider Working Abroad Index 2016 (Internations, G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

2016), Luxembourg scores the best results as the best place for expats to build a career. Fifth, among the skills distinguishing the country’s workforce compared to other economies there is the fluency in three or more languages which makes it easier and more advantageous to deal with international clients. According to the Eurobarometer (2012), Luxembourg is at the top among all EU member states in terms of the average number of languages spoken by the population (3.6 languages). Sixth, as highlighted by the

By Mr. George-Sp. C. ATHANASOPOULOS presence of significant leaders in internet and global innovation such as the Harvard University, Graduate School of Design, Student, Japanese company Rakuten, Luxembourg offersC. ATHANASSOPOULOS outstanding Architect digital

By Mr. George-Sp. infrastructures making the country a trusted and highly secure data hub Student of the School of Architecture (Luxinnovation, 2017). Seventh, the Grand Duchy ranks second in the world in Technical University of Crete terms of global logistic capabilities (World Bank’s Logistic Performance Index 1. Introductory approach: the concept 2016) thank to the ongoingDefining development of air, road, rail and waterway 1.

Introductory approach: Defining the concept infrastructures connecting the Greek countryphilosopher, with the rest Europe and Athens), beyond.

ANTISTHENIS, the ancient (444ofBC - 370 BC, ANTISTHENIS, the ancient Greek philosopher, (444 BC -public 370 BC, Athens), among other wise heritage he us,range he established a great “principle”: the Eighth, Luxembourg offers a left wide of private and financing among fostered other wise he leftthe us,definition he established a institutes, greatof“principle”: the acquisition of knowledge with of the content concepts. sources notheritage onlystarts by its well-developed financial but also by acquisition of knowledge starts with the of the content of concepts.

Based, therefore, on this “principle” indefinition a first, ifR&D not final, approach, the term the government strategy to promote investment, and innovation through 1 (and urban Based, therefore, this “principle”For inindicated aexample, first, if (in not final, approach, the term gentrification) is the area of Planning) (or gentrification specific loans, grantson and incentives. the Luxembourg Future 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various Fund is a €150 million fund investing in innovative European technology for Sociology as well), as the “refining” ofinstitutional a city area, removal from this, of (inartists, various ways), of social groups, usually ofand low-income andthe the placement SMEs. Ninth, distinct policies measures hasthere favoured the ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However thiswell “change”, regardless of social and economic inclusiveness of the country as as invested in its the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the multicultural identity which attract and welcome foreign nationals. Finally,of whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative despite the high costs of living, Luxembourg and its job opportunities offer a potential relative speculation).

The term gentrification found first healthcare in the UK ininearly 1960s (The and itLegatum refers to high quality of life couplediswith theatbest the world The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor Prosperity Index, 2016). the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

Despite uncertainties about the global economy, Luxembourg has seen a being indirectly “squeezed”.

A description of this phenomenon is included in the workthus of Sociologist steady increase of inward FDI during the last years, confirmingRuth its A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar inliterature other major favourable climate for foreign investment as well as the academic on GLASS at the same period, situations were recorded in other major cities in Western countries, bywhile othersimilar Researchers. both FDI effects and conditions.

Indeed, The Luxembourg government has not cities in Western countries, by other Researchers.

Since then, the issue has preoccupied several scholars and for its more onlySince put inthen, placethe measures to make the country evenscholars more attractive issue has several andthe forfor itsFDI more comprehensive approach arepreoccupied being summarized below, from various tax benefits, equipment and are construction - but also special agencies for the comprehensive approach being summarized below, from the various interpretations of the phenomenon of gentrification, the following: promotion of the Grand Duchy as an ideal destination for potential investors. interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups As growth is projected to strengthen significantly to 4% by 2019in(OECD, to “return” to the city, leaving the purlieus for several reasons: high costs money 2017b), the comparative advantages of Luxembourg compared with other EU and time to travel from the purlieus to downtown, where work place is, lack of the member states are further foster inward FDI theRuth country.

1.of The termat comes from to Sociologist Ruth GLASS, 1912-1940.

GLASS for wasbetter born in sense safety thelikely distributed residencies outside townincentres, search Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Youth4.

Unemployment.

The same year she left Germany and after continuous movements for Official development assistance lower living cost of, “withdrawal” from private access markets, etc.where studies and research in Geneva, Prague, London and car Neweasier York she came to back to London, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University College of London, where she continued her socialand research.

Her public action and The informal Organization Economic Cooperation Development long-term effortfor by organized groups, manufacturers, brokers of(OECD) buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. first coined the term Official Development Assistance (ODA) in web, 1969, and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: providing the global standard for indicating international aid flow between G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

countries. ODA is defined as official financing or technical co-operation administered to developing countries with the main objective of promoting economic development and welfare (OECD, 2018). Loans must be concessional in nature with a grant element of at least 25 percent, and cannot be for military purposes or paid to private individuals. ODA is excluded from the other two categories of aid from OECD donors, namely Official Aid (OA) and Other Official Flows (OOF), which may differ in aims or not contain the 25

By Mr. George-Sp. C. ATHANASOPOULOS percent grant element.

Harvard University, Graduate School of Design, Student,

By Mr. George-Sp. C. ATHANASSOPOULOS Architect Roughly 85 percent of the world’s ODA flows come from the thirty Student of the School of Architecture members of the OECD’s Development Assistance Committee In of 2016, Technical (DAC).

University Crete

118

the gross amount of total aid flows from DAC countries reached its peak of 1. 142.6 Introductory approach: Defining concepttrend is primarily due to the USD billion (OECD, 2017c).

Thisthe increasing 1.

Introductory approach: Defining the concept realization of the the international community that(444 in BC order reach the ANTISTHENIS, ancient Greek philosopher, - 370toBC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among otherDevelopment wise heritageGoals he left us, he established a great the Millennium (MDGs) fixed in 2000, more generous and among other wise leftthe us,be headopted established a greatof“principle”: the acquisition of knowledge startshe with definition of the content concepts. more effective aid heritage principles must (Luxembourg Ministry of acquisition of knowledge starts with theaid of the content of concepts.

Based,Affairs, therefore, on this “principle” indefinition aflows first, ifare not final, approach, the term Foreign 2008).

International mainly oriented towards 1 (and urban Based, social therefore, this “principle” inindicated a first, notthe final, approach, the term gentrification) is (in area of Planning) (or gentrification improving and on economic infrastructure andif services, as well as general 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various humanitarian aid (OECD, Official bilateral commitments by sector), which Sociology as well), as the “refining” of a city area, fromthere (inartists, various ways), of social groups, usually of low-income andthe theremoval placement of conforms to the global commitment of meeting the MDGs ofthis, eradicating ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, However this “change”, of poverty, improving access to healthcareetc. and education, as well asregardless promoting the operation of art galleries, restaurants, etc.

However this “change”, regardless of whatever other consequences has, results also rising of land prices (and the economic growth. whatever other consequences has, results also rising of land prices (and the potential relative speculation). potential relative speculation).

The4.1 term gentrification is found atdevelopment first in the UK inassistance early 1960s and it refers to Luxembourg’sofficial quantitative The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor trends the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

Luxembourg plays a strong role in global initiatives to aid developing being indirectly “squeezed”.

A description of this phenomenon the work ofmultilateral Sociologist Ruth countries by financing diverse setisisincluded ofincluded needs,inin with and A description ofperiod, this aphenomenon the many work of Sociologist Ruth GLASS at the same while similar situations were recorded in otherofmajor bilateral partnerships in place.

Luxembourg has been a member the GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

Development Assistance Committee (DAC) since 1992, and has demonstrated cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more a commitment to The Paris Declaration several that was reformed under the Since then, the issue has scholars andthe for its more comprehensive approach arepreoccupied being summarized below, from various Luxembourg EU Presidency in 2005 (Luxembourg Ministry offrom Foreign Affairs, comprehensive approach are being summarized below, the various interpretations of the phenomenon of gentrification, the following: 2008).

Under a large cross-party consensus in Parliament behind The Paris interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups Declaration, Luxembourg developed a clear strategy to reach its in goals of to “return” to the city, leaving the purlieus for several reasons: high costs money improving the quality of aid and its impact on development, including interand time to travel from the purlieus to downtown, where work place is, lack of the governmental coordination, evaluating and mechanisms 1.of The termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS wasbetter born in sense safety the distributed residencies outside townplanning centres, for Berlin, where she made her first studies.

In 1932 she published an important study entitled: (Luxembourg Ministry of Foreign Affairs, 2008).

ODA flows from Luxembourg services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same year she left Germany and after continuous are realized by the cooperation between the Ministry ofaccess Foreign Affairs and its lower living cost of, “withdrawal” from private car easier to markets, etc.where studies and research in Geneva, Prague, London and New York she came back to London, implementing agency for Development Co-operation, Lux-Development (Luxin According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University College London, where she continued her social research.

Her public action and Dev), as well as ofother NGOs (Luxembourg Ministry ofofForeign long-term informal effortDevelopment by organized groups, manufacturers, brokers buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. Affairs, 2008). and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

Luxembourg was considered the DAC’s second most generous donor after Sweden in 2014 (OECD Peer Review, 2008). For the same year, the

By Mr. George-Sp. C. ATHANASOPOULOS United States was the highest donor in gross terms (at 33.1 billion USD) by Harvard University, Graduate School of Design, Student, nearly double the amount in secondBy place (19.31 billion USD from theArchitect United Mr. George-Sp. C. ATHANASSOPOULOS Kingdom) (Figure 1). Despite these substantial sums, the US ranks quite Student of the School of Architecture poorly in meeting the UN Target of 0.7 percent ofTechnical a country’s total gross University of Crete national income (GNI), while the UK falls directly on it. In 2014, Luxembourg 1. Introductory approach: the donated an impressive 1.06 Defining percent of itsconcept GNI to ODA – 0.36 percent higher 1.

Introductory approach: Defining the concept than the UN target and 0.67 percent than the effort ANTISTHENIS, the ancient Greek higher philosopher, (444average BC - 370country BC, Athens), ANTISTHENIS, thepercent ancient Greek philosopher, (444 BCwas -“principle”: 370 Athens), among other wise heritage he left us, he established aODA great the (Figure 2). One hundred of Luxembourg’s total in BC, the form of amonginother wise heritage he leftthe us,definition he established a great the acquisition of knowledge starts with ofhas the content of“principle”: concepts. grants 2014 (OECD, 2016c).

Luxembourg nine priority partner acquisition of knowledge starts with theindefinition of the content of concepts.

Based, therefore, on this “principle” a Least first, ifDeveloped not final, approach, the term countries, including some of the world’s Countries (LDCs) 1 (and urban this “principle” inindicated a first, if (in notODA final, approach, the and term gentrification) is the area of Planning) (or gentrification and Based, fragile therefore, states.

In on 2014, 44.4 percent of bilateral went to LDCs 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various 27.8 percent went to fragile states (OECD, 2016c). Bilateral ODA from Sociology as well), as the “refining” of a city area, the from this,million (inartists, various ways), of social groups, usually low-income and theremoval placement there of Luxembourg primarily goes toofsub-Saharan Africa, totalling 127.2 in ways), of social groups, usually of low-income and the placement there of the operation art galleries, restaurants, However thisGNI “change”, regardless of 2014 (OECD, of 2016c).

At 0.43 percent ofetc.

Luxembourg’s in 2014, total artists, ODA the operation of art galleries, restaurants, etc.

However this “change”, regardless of whatever other consequences has, results also rising of land prices (and the to LDCs far exceeds the UN target of 0.15 percent of GNI (OECD, 2016c). whatever other consequences has, results also rising of land prices (and the potential relative speculation). potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to The term gentrification is found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor Graph 4: Luxembourgwealthy – net ODA amounts - 2014 the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. being indirectly “squeezed”.

A description of this phenomenon is included in the work of Sociologist Ruth A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers. cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more Since then, the issue has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups to “return” to the city, leaving the purlieus for several reasons: high costs in money and time to travel from the purlieus to downtown, where work place is, lack of the termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Youth Unemployment. The same year she left Germany and after continuous movements for lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and University informal College of London, where she continued her social research. brokers Her public and long-term effort by organized groups, manufacturers, ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in Source: OECD 10th edit.

Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

Graph 5: Luxembourg – net ODA as percentage of GNI - 2014

By Mr. George-Sp. C. ATHANASOPOULOS Harvard University, Graduate School of Design, Student,

By Mr. George-Sp. C. ATHANASSOPOULOS Architect Student of the School of Architecture Technical University of Crete

1. Introductory approach: Defining the concept 1. Introductory approach: the concept (444 BC - 370 BC, Athens), ANTISTHENIS, the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage he left us, he established(444 a great the among other wise heritage leftthe us,definition he established a greatof“principle”: acquisition of knowledge startshe with of the content concepts. the acquisition of knowledge starts with theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term 1 (and urban Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term gentrification) area of Planning) (or gentrification 1OECD Source: gentrification (and urban gentrification) indicated (in thefrom areathis, of Planning) (or Sociology as well), as the “refining” of a cityisarea, the removal (in various Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, ways), of social groups, usually and placement there of Graph 6: Luxembourg – of netlow-income ODAetc. trends inthe volume as a share of artists, GNIthe operation of art galleries, restaurants, However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless 1999-2015 whatever other consequences has, results also rising of land prices (and theof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus old residents areof London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. being indirectly “squeezed”.

A description of this phenomenon is included in the work of Sociologist Ruth A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers. cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more Since then, the issue has several below, scholars andthe for various its more comprehensive approach arepreoccupied being summarized from comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups to “return” to the city, leaving the purlieus for several reasons: high costs in money and time to travel from the purlieus to downtown, where work place is, lack of the termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly) Youth Unemployment. The same year she left Germany and after continuous movements for lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and Source: OECD University informal College of London, where she continued her social research. brokers Her public and long-term effort by organized groups, manufacturers, ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

4.2 Luxembourg’s official development assistance policy and objectives In 2014, Luxembourg developed its Action Plan for Development Effectiveness 2014 - 2016 based on the Global Partnership for Effective Development Cooperation which developed out of Busan in 2011 (Directorate for Development Cooperation, 2014). In this document, Luxembourg commits to goals like strengthening the local private sector in developing countries and

By Mr. George-Sp. C. ATHANASOPOULOS strongly supporting the inclusive finance sector. The microfinance labelling Harvard University, Graduate School of Design, Student, agency LuxFlag emerged out of efforts by the Ministry of Foreign and

By Mr. George-Sp. C. ATHANASSOPOULOS Architect European Affairs (MFEA), contributing to theStudent strength of the inclusive finance of the School of Architecture sector in Luxembourg and internationally. The MFEA also initiated the Technical University of Crete Luxembourg Microfinance and Development Fund (LMDF), which facilitates 1. Introductory approach: Defining the concept access to microcredit loans to individuals or groups in developing countries.

1.

Introductory approach: Defining the concept Other initiatives work thephilosopher, private sector provide expertise in ANTISTHENIS, thedirectly ancient with Greek (444toBC - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), among other wise heritage us, he established a great the particular fields such as ICT he andleft renewable energies.(444 Luxembourg’s “Business among other wise heritage leftthe us,and he established a greatof“principle”: the acquisition of knowledge starts with definition of theenterprises content concepts.

Partnership Program” putshe small medium (SMEs) in acquisition of knowledge starts with theindefinition the content ofcountries. concepts.

Based, therefore, on this “principle” awith first,SMEs if of not approach, the term developed countries in direct partnership infinal, recipient 1 (and urban Based, on this “principle” is infinances a first, ifand notthe final, approach, the term gentrification) indicated (in area of Planning) (or gentrification Usingtherefore, ODA resources, Luxembourg advises on a number of 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various other economic strategies in developing countries. Known as one of the Sociology as well), as the “refining” of a Luxembourg city area, from this, of (inartists, various ways), ofmost social groups, usually of itself, low-income andthe theremoval placement there world’s notable tax havens donates an estimated USD ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants,activities etc. However regardless of 663,000 of its ODA to tax-related in this its “change”, partner countries to the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the maximize the use of their domestic resources (OECD, 2016). With the aim ofof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative integrating their partner countries into the world economy, contributing to potential relative speculation).

The term their gentrification is found first in the UK in and itthat refers to improving partners’ tradeatperformances is early key, 1960s a trend has The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor increased by around 1.7 percent each year since 2013 (OECD, 2016). In line the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof with other Sustainable Development (SDGs), Luxembourg assured London, upgrade them, stay themselvesGoals sometimes there and thus oldhas residents are being indirectly “squeezed”.

USD 46.7 million“squeezed”. to the Green Climate Fund – an organization which facilitates being indirectly A description this phenomenon is included in the work of Sociologist Ruth climate finance inofof developing countries Review, A description this phenomenon is(OECD included inwere the 2016). work of Sociologist Ruth GLASS at the same period, while similar situations recorded other major In the OECD Development Co-operation Peer Review forinLuxembourg GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

2017, Luxembourg is praised forResearchers. its generosity and high levels of aid cities in Western countries, bypreoccupied other Since then, the issue has several scholars and for its more effectiveness.

The document outlines additional efforts that could be in Since then, the issue has several scholars andthe formade its more comprehensive approach arepreoccupied being summarized below, from various order to build onapproach existing achievements.

While Luxembourg hasthe a various strong comprehensive are being summarized below, from interpretations of the phenomenon of gentrification, the following: development policy level of policy coherence,the thefollowing: OECD identifies the interpretations theand phenomenon In a sense, theof phenomenon is dueof togentrification, a trend of a new category of social groups need to link it more closely to “other policy instruments”, suchcosts as the SDGs to “return” to the city, leaving the purlieus for several reasons: high in money (OECD, 2017).

Per their recommendations, the concept of development and time to travel from the purlieus to downtown, where work place is, lack of the cooperation should continue to expand under efforts to increase people’s 1.of The term from Sociologist Ruth GLASS, 1912-1940.

Ruth GLASS for was born in sense safety atcomes the distributed residencies outside town centres, search better Berlin,of where she made her first studies.

Inthat 1932 could she published an important study entitled: sense “world citizenship”, a role be taken on by the various services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same 2017). year sheOn leftthe Germany and after continuous ministries and NGOs (OECD, topic of partnerships, Luxembourg lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research in Geneva, Prague, London and New York she came back to London, could on studies its approach, framework for identifying selecting partner in According 1943improve she published regarding city planning.

In 1950 sheto became teacher in the to another the phenomenon is and due a systematic and University informal College London, where continued her social research.(OECD, Her public and organizations in ofline with the she results it aims to achieve 2017).

In long-term effort by organized groups, manufacturers, brokers ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. addition, more possibilities could be recognized through the green finance and selling realCOLLINS estate, etc., for the depreciation initially of part of the urban web, in 10th edit. Wil. SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: sector in Luxembourg, which it should use to form “innovative partnerships” G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

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(OECD, 2017). Evaluation of ODA in Luxembourg is well-organized and administered by three separate but closely-linked entities: the Quality Control Division of the Ministry of Foreign Affairs, Lux-Dev, and ad-hoc evaluation committees such as partner NGOs. While improvements could be made in the aforementioned areas, efforts are already relatively effective (OECD, 2017).

Luxembourg is highly international with nearly 50 percent of its population being foreigners (Statista, 2018). Residents favor an international

By Mr. George-Sp. C. ATHANASOPOULOS mindset when it comes to economic tactics, part of which can be achieved Harvard University, Graduate School of Design, Student, through ODA partnerships. Luxembourg’s policiesC.orient around Architect meeting

By Mr. ODA George-Sp. ATHANASSOPOULOS the 2030 Agenda and the Sustainable Development Goals, focusing on Student of the School of Architecture measurable impact, shared interests and co-financing, as well as an adherence Technical University of Crete to social, environmental, and fiscal standards. In addition, foreign aid allows 1. Introductory approach: the concept donor countries to pursue Defining their own foreign policy objectives, whether 1.

Introductory approach: Defining the concept economic, ideological, security-related (Apodaca, Extending the ANTISTHENIS, the or ancient Greek philosopher, (4442017).

BC - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 among other wise he left us, he established apractice great the grant element of heritage ODA loans is considered good(444 andBC, a Athens), future among other wise heritage left us, he established a greatof“principle”: the acquisition of knowledge startshe with definition of the content concepts. requirement for DAC members, athe standard that Luxembourg has already acquisition of knowledge with the definition the content of concepts.

Based,(KfW, therefore, on this a first, if of not final, approach, the term adopted 2017).

Asstarts a“principle” result of in Luxembourg’s political and economic 1 (and urban Based, therefore, on “principle” in a first, 1if percent notthe final, gentrification) indicated (in area of Planning) (or gentrification stability, the country is this able to donate is roughly ofapproach, its total the GNIterm to 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various recipient countries every year, a commitment which stems from the goal to Sociology as well), as the “refining” of a city area, the fromthere this, of (inartists, various ways), of groups, usually low-income and theremoval placement extend itssocial influence beyond theofborders of the European Union. ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless of whatever other consequences has, results also rising of land prices (and the 5. Conclusions whatever other consequences has, results also rising of land prices (and the potential relative speculation).

Luxembourg, since its independence from the Netherlands in 1867, has potential relative speculation).

The term gentrification found and at first in the UKrelations. in early 1960s to focused on building good is foreign diplomatic It is and one itofrefers the six The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor founding members of the European Union. As a strong supporter of the then observed trend wealthy sometimes people to there buy property in poor areas London, upgrade them, stay of themselves and thus residents areof multilateral organizations, is also a member of the Council ofold Europe, OECD, London, upgrade them, stayitthemselves sometimes there and thus old residents are being indirectly “squeezed”.

NATO, United Nations, and International Monetary Fund for example. The being indirectly “squeezed”.

A description of this several phenomenon is included in the workinof its Sociologist small country hosts European organizations capital:Ruth the A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major Secretariat-General of the European Parliament, the European Court of Justice, GLASS at the same period, situations were recorded in other major cities in Western countries, bywhile othersimilar Researchers. the European Investment Bank, the European Court of Auditors, some cities in Western countries, by other Researchers.

Since then, the issue has preoccupied several scholars and for its more departments of the European Commission, the European Investment Fund, the Since then, the issue has several scholars andthe for its more comprehensive approach arepreoccupied being summarized below, from various European Financialapproach Stability Facility, andsummarized the European Financial Stabilization comprehensive are being below, from the various interpretations of the phenomenon of gentrification, the following: Mechanism.

For this Luxembourg City is sometimes referred to as one interpretations thereason, phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups of the three capitals of the European Union alongside Brussels and Strasbourg. to “return” to the city, leaving the purlieus for several reasons: high costs in money In terms of economy, Luxembourg is very open with one of highest and time to travel from the purlieus to downtown, where work place is,the lack of the GDP1.per capital levels the residencies world.

ItGLASS, isoutside a booming financial marketplace, termat comes frominSociologist Ruth 1912-1940.

Ruth search GLASS wasbetter born in sense ofThe safety the distributed town centres, for Berlin, where she150 madebanks, her first studies.

In 1932 sheforeign published an important study entitled: housing almost most of which are from all over the world – services of health, education, entertainment “at the heart of the city”,movements (possibly) Youth Unemployment.

The same year she left Germany and afteriscontinuous for not just Europe.

Because of its small size, Luxembourg dependent on other lower living cost of, in “withdrawal” from private access markets, etc.where studies and research Geneva, Prague, London and car Neweasier York she came to back to London, countries inpublished terms ofstudies trade.

Its main import-export areteacher Germany, in According 1943 she regarding cityphenomenon planning. In 1950 sheto became in the to another approach, the is partners due a systematic and University College of London, where she continued her social research.

Her public and France, Belgium, theby Netherlands, as wellmanufacturers, as the United brokers States and China long-term informaland effort organized groups, ofaction buying work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. inherthe restreal of estate, the world.for Asthe to depreciation Foreign Direct Investment (FDI), mostweb, of in it and selling initially of part of the urban 10th edit. Wil. COLLINS etc., SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: comes from other countries in the European Union, into the banking and G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

insurance sectors. Luxembourg is also committed to Official Development Assistance (ODA), reaching the United Nations’ commitment to donating at least 0.70% of Gross National Income (GNI). Trade, FDI, and ODA, the three main tools of economic diplomacy are thus present and well-functioning in Luxembourg.

This paper has studied trade in terms of both imports and exports.

Luxembourg, following globalization trends, has gone beyond only bilateral

By Mr. George-Sp. C. ATHANASOPOULOS agreements. As an EU Member State, it is succumbed to certain exclusive Harvard University, Graduate School of Design, Student, supranational competences, such as By trade The European Commission is Mr. policy.

George-Sp. C. ATHANASSOPOULOS Architect an important negotiator, and keeps in line with the Member States’ wishes as Student of the School of Architecture well as the overall good. Nonetheless, Luxembourg’s tradeUniversity diplomacy is Technical of Crete important, and not limited to its size. There are various national bodies within Introductory approach: Defining the concept the1.country such as the Ministry of Foreign Affairs that are responsible for 1.

Introductory approach: Defining the conceptand promoting nationalthe interests.

Other philosopher, agencies ANTISTHENIS, ancient Greek (444specific BC - 370governmental BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -As 370anBC, Athens), among other are wiseall heritage he in left us, he established a great “principle”: the departments involved conducting trade missions. economic among other wisetoheritage he leftthe us,definition he established a great the acquisition of knowledge starts with of the content of“principle”: concepts.trade diplomacy effort build closer ties, Luxembourg has established acquisition ofatknowledge starts theindefinition the content of concepts.

Based, therefore, on this “principle” a first, if of not final, approach, the term departments its embassies inwith Berlin, Brussels, and Paris.

At the worldwide 1 (and urban therefore, on this “principle” inindicated a first, if notthe final, approach, term gentrification) is (in of Planning) (or gentrification level,Based, Luxembourg enacted trade and investment offices inarea China, India,the Israel, 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various Japan, South Korea, Taiwan, the United Arab Emirates and USA. Sociology as well), as “refining” of a city area, the removal this, (inartists, various ways), of social groups, usually of low-income the placement there of Luxembourg is the experiencing a deficit inand the balance offrom trade, partly due ways), of social groups, usually of low-income and the placement there of artists, the operation of art galleries, restaurants, etc. However “change”, regardless of to its small size.

Imports have nevertheless becomethis a bit less important over the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the the years. Luxembourg imports significantly more from other EU countriesof whatever otherspeculation). consequences has, results also rising of land prices (and the potential than therelative rest of the world combined, 74.75% in 2016 to be precise. potential relative speculation).

The term gentrification is found at first in theas UK in early 1960s and it refers to Luxembourg imports goods and services such food, beverages, clothing, and The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor bigger goods such as transport equipment as well. These imports are followed the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof by capital goods and raw materials, as well as energy.

London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

Luxembourg exports much less than it imports. Nonetheless, its main being indirectly “squeezed”.

A description of this phenomenon includedtires, in theand workcars. of Sociologist Ruth goods are for instance iron blocks,isisrubber The country’s A description ofperiod, this phenomenon included inwere the recorded work of Sociologist Ruth GLASS at the same while similar situations in other major industry is the characterized bywhile innovation, business,were and recorded finance. in Therefore it GLASS at same period, similar situations other major cities in Western countries, by other Researchers. comes as no surprise that its main exported services are in the financial cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more sector, followed by personal/cultural serviceseveral exports.

It can be the Since then, the issue has scholars andsaid forthat its more comprehensive approach arepreoccupied being summarized below, from the various export of servicesapproach is much more important for Luxembourg thanthe export of comprehensive are being summarized below, from various interpretations of the phenomenon of gentrification, the following: goods.

Additionally, if trade contribution of exports is measured by population interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups to GDP ratio, Luxembourg’s export of financial services is to “return” to the city, leaving the purlieus for several reasons: highapproximately costs in money 2,500% than its the population and timelarger to travel from purlieusshare. to downtown, where work place is, lack of the Luxembourg thusSociologist no stranger correctly conducting trade for in terms The termat comes from Ruthto GLASS, 1912-1940.

Ruth search GLASS was born in sense1.of safety theis distributed residencies outside town centres, better Berlin, where she made her first studies.

In up 1932agencies she published an its important study entitled: of economic diplomacy.

It has set with most important services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

Theexpand same year she left Germany and afteras continuous partners, and aims to its horizon worldwide well.

The national lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research in Geneva, Prague, London and New York she came back to London, institutions are working together incity harmony private sector, in According 1943 she published studies regarding planning.with In 1950 she teacher and in the to another approach, the phenomenon isthe due tobecame a systematic and Universityare College where she her social research.

Her risk public and together ableof London, to establish newcontinued partnerships.

There is no inaction losing long-term informal effort by organized groups, manufacturers, brokers of buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. Luxembourg’s main import-export partners.initially The balance ofthe trade deficit is and selling realCOLLINS estate, etc., for theCodepreciation of part of urban web, in 10th edit. Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: normal because of the size of the country.

And notwithstanding, the amount of G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

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financial services exported by Luxembourg offsets any other bad performance, making it an efficient and competitive economy in the world.

The second instrument of economic diplomacy is Inward and Outward Foreign Direct Investments (I/O-FDI). A country is keen on attracting FDI, and sometimes even makes fiscal and financial incentives. IFDI is very important for a country, as it shows very positive effects on the economy, for example productivity gains, technology transfers, and employee training. To attract

By Mr. George-Sp. C. ATHANASOPOULOS FDIs, the domestic market conditions such as infrastructures and productive Harvard University, Graduate School of Design, Student, assets must be of a high quality. Luxembourg is very C. successful in attracting

By Mr. George-Sp. ATHANASSOPOULOS Architect inward foreign direct investment, thanks to its promoting actors as well as its Student of the School of Architecture strong economy.

Technical University of Crete 2016’s figures show that the IFDI is worth 65% of the total of 1. Introductory approach: concept Luxembourg’s GDP. Special Defining Purpose the Entities (SPEs) are one of the main 1.

Introductory approach: Defining the concept activities, that is, transferring capital from non-residents to BC, other nonANTISTHENIS, the ancient Greek philosopher, (444 BC - 370 Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC -“principle”: 370 BC, Athens), among other wise heritage he left he established a great the residents.

Large companies, some ofus, which are headquartered in Luxembourg among wiseemployers heritage us, he established a agreat the acquisition knowledge startshe with the definition of the content of“principle”: concepts. and are other theofmain of left the country, also have huge effect on the acquisition knowledge starts with the content ofisconcepts.

Based, therefore, on this “principle” indefinition a first, the if of not final, approach, term economy.

Asoffar as investments fromthe countries, United States thethe largest 1 (and urban Based, therefore, on this “principle” insectors a first, that if (in notattract final, approach, the term gentrification) indicated the area of Planning) (or gentrification non-EU investor.

As expected, the mainis FDI are banking, 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various insurance, and manufacturing.

Sociology as well), asjust the “refining” city area, from this, (in various ways), of social groups, usually andthe theremoval placement there artists, Luxembourg, like of in low-income itsof atrade efforts, has also set upof various ways), of social groups, usually of low-income and the placement there of artists, the operation ofand art galleries, etc. However “change”, of organizations agencies restaurants, for promoting FDIs. Thethis public sectorregardless has set up the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the Luxembourg for Business and Innovation; Luxembourg for Finance; Nationalof whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative Credit and Investment Institution; and of course various Luxembourg Trade potential relative speculation). term gentrification found at first in thewhere UK in early 1960s investors and it refersare to andThe Investment Offices is around the world potential The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor offered assistance. There are many reasons as to why Luxembourg is the then observed trend wealthy sometimes people to there buy property in poor areas of London, upgrade them, stay of themselves and thus old residents attractive for Foreign Investment.

Its smallthere size and location offer are for London, upgrade them,Direct stay themselves sometimes and thus old residents are being indirectly “squeezed”. easy investment in cross-border activities; it is a business-friendly economy being indirectly “squeezed”.

A description of this phenomenon included in the of Sociologist offering fiscal incentives for start-upsisisfor example; it work recovered fast fromRuth the A description ofperiod, this phenomenon included inwere the work of Sociologist Ruth GLASS at the same while similar situations recorded in other major crisis, and has the second lowest government-debt ratio in the EU, offering a GLASS at the same period, situations were recorded in other major cities in Western countries, bywhile othersimilar Researchers. stable economic environment; the Grand Duchy attracts skilled employees cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has several scholars and for its more thanks to then, its competitive salaries; the use of 3-4scholars languages in Since the issue has several andthe forworking its more comprehensive approach arepreoccupied being summarized below, from various environments as well as the are international expat community’s language skills comprehensive approach being summarized below, from the various interpretations of the phenomenon of gentrification, the following: offer an advantage for international clients; Luxembourg is advancing quickly interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups in Information and Communication Technologies; and the country to “return” to the city, leaving the purlieus for several reasons: high costsiningeneral money enjoys a high quality living. and time to travel fromofthe purlieus to downtown, where work place is, lack of the Luxembourg a very welcoming environment for IFDIs. As toin The termat comes fromoffers Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS wasbetter born sense1.of safety thethus distributed residencies outside town centres, for Berlin, where she made herInvestments, first studies. InLuxembourg 1932 she published anshowing importantremarkable study entitled: Outward Foreign Direct is also services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

Themarkets. same year OFDI she leftmeasured Germany and continuous importance in foreign to after 59.30% ofmarkets, the country’s lower living cost of, “withdrawal” from private car easier access to etc.where studies and research in Geneva, Prague, London and New York she came back to London, GDP in 2016.

The measurement is highly volatile,Ingiven that the banking in According 1943 she published studies regarding cityphenomenon planning.

1950 she teacher and in the to another approach, the is due tobecame a systematic and Universitysector College of of London, where she her social research.

Her public and financial Luxembourg arecontinued the most important, it is normal that in long-term informal effort by organized groups, manufacturers, brokers ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. 2008, the real percentage fellfordramatically, andinitially has now risen back up. web, It has and selling estate, etc., theCodepreciation of part of the urban in 10th edit. Wil. COLLINS SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: actually risen to the point of Luxembourg being a leader in the EU, and G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

actually carrying out 40% of all of the European Union’s OFDI flows. The recipients are a bit different to Luxembourg’s usual partners: the USA, the UK, the Netherlands, and Switzerland have the highest percentages of Luxembourgish outward FDI, respectfully. The usual partners, i.e. Germany, Belgium, and France are also in the top 10, nevertheless. SPEs are just as important for OFDIs as it is for IFDIs. The sectors are coherent with Luxembourg’s strengths: finance, insurance, professional, and scientific above

By Mr. George-Sp. C. ATHANASOPOULOS all.

Harvard University, Graduate School of Design, Student, ODA is the third and final element ofGeorge-Sp. economic diplomacy this paper has

By Mr. C. ATHANASSOPOULOS Architect described. Luxembourg is committed to helping developing countries.

It has Student of the School of Architecture been financing several countries, through both bilateral partnerships Technical University of and Crete multilateral organizations’ platforms such as the United Nations. Since the 1. Introductory approach: the concept 2005 Paris Declaration on Defining Aid Effectiveness, Luxembourg is dedicated to 1.

Introductory approach: Defining theimpact concepton improving the quality of aid Greek and its development. this ANTISTHENIS, the ancient philosopher, (444 BC - 370 BC, For Athens), ANTISTHENIS, the Greek philosopher, BC -“principle”: 370asBC, among otheras wise heritage he left us, he established(444 a great the instrument well, theancient state has well-established actors theAthens), Luxamong other wise heritage he leftthe us,development he established a great “principle”: the acquisition of knowledge starts with definition of the content concepts.

Development organization, and other NGOs are of also active. The acquisition of knowledge starts with the the content of concepts.

Based,oftherefore, on this “principle” indefinition a first, not final, approach, the term Ministry Foreign Affairs also plays a large roleifinof establishing foreign aid.

1 (and urban Based, therefore, on this “principle” inindicated agenerous first, if (in notdonor final, approach, the term gentrification) is the area of Planning) (or gentrification Luxembourg was the second most after Sweden in 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification Sociology as well), as the “refining” of a city area, the removal from this, (in various 2014. Additionally, it has out-reached the UN target of 0.7% GNI to become Sociology as well), asitthe “refining” of a city area, from this, of (in various ways), social groups, usually of low-income andthe the placement there artists, ODA toof1.06%.

All of was in the form of grants.

Itsremoval partner countries include ways), of social groups, usually of low-income and the placement there of the operation of art galleries, restaurants, etc.as However “change”, of several in sub-Saharan Africa, as well other this fragile statesregardless and artists, least the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and the developed countries. Luxembourg’s most important sector, finance, is alsoof whatever otherspeculation). consequences has, results also rising of land prices (and the potential importantrelative for development. The country allows for loans in developing potential relative speculation).

The term found at firstLuxembourg in the UK in is early 1960s and it refers to countries in gentrification fields such asis ICT, where a leader in knowledge The term gentrification iswealthy found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend of to buy property in poor and know-how. It is a highly generous country, and sees the benefit of all of its the then observed trend of wealthy sometimes people to there buy property in poor areas London, upgrade them, stay themselves and thus old residents areof partners developing, leading them to the path of globalization.

London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”.

All in all, Luxembourg’s economic diplomacy strategy is working well on being indirectly “squeezed”. description of this phenomenon is included in theand work of Sociologist Ruth all A three fronts: Trade, Foreign Direct Official Development A description ofperiod, this phenomenon isInvestment, included inwere the recorded work of Sociologist Ruth GLASS at the same while similar situations in other major Assistance.

The country haswhile aneffective and efficient system of actors where GLASS at the same period, similar situations were recorded in other major cities in Western countries, by other Researchers. each organization has a specific which is communicated to the other. cities in Western countries, bypreoccupied otherrole, Researchers.

Since then, the issue has several scholars and for its more Luxembourg’s sectorhas is that of bankingseveral and finance.

This is for used its Since then,main the issue scholars and itstomore comprehensive approach arepreoccupied being summarized below, from the various advantage when conducting any form ofsummarized diplomacy. Not only does itthe make the comprehensive approach are being below, from various interpretations of the phenomenon of gentrification, the following: country a strong player in trade, theofsector allows for a following: great share of the GDP interpretations the phenomenon the In a sense, theof phenomenon is due togentrification, a trend of a new category of social groups to grow thanks to Inward and Outward Foreign Direct Investments.

And lastly, to “return” to the city, leaving the purlieus for several reasons: high costs in money the country shows great generosity in its Official Development Assistance and time to travel from the purlieus to downtown, where work place is, lack of the strategy.

It targets countries’ specific needs, as for example leastin 1.of The term from Sociologist Ruth GLASS, 1912-1940.

Ruth GLASSthe wasbetter born sense safety atcomes the distributed residencies outside town centres, search for Berlin, wherecountries she made her first studies.

In 1932 shedeveloping published an countries important study entitled: developed receive grants, and receiving services of health, education, entertainment “at the heart of the city”,movements (possibly)for Youth Unemployment.

The same she left Germany anddevelop after continuous Luxembourgish assistance in year know-how to further important sectors lower living cost of, “withdrawal” from private car easier access to markets, etc.where studies and research in Geneva, Prague, London and New York she came back to London, ofinthe economy.

Luxembourg is a leader in the European Union’s economic 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the According to another approach, the is due a systematic and University informal College London, where shein continued her research. brokers Her public and diplomacy, and itofwill onlyby expand the years tosocial come. long-term effort organized groups, manufacturers, ofaction buying her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. Usingreal Luxembourg, as the a case study forinitially evaluating economic diplomacy and selling estate, etc., for depreciation of part of the urban web, in 10th edit. Wil. COLLINS SONS AND Co Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: of small states, and after analysing Luxembourg’s economic diplomacy in G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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GENTRIFICATION Definition, Types of Intervention, Definition, of intervention, ConcernsTypes of Gentrification Concerns

terms of trade, FDI and ODA, we argue that size is not a determinant of a state’s economic diplomacy success, the Grand Duchy has made proof that without shying away, the country dared to compete successfully in the globalised markets using an efficient and effective, well developed economic diplomacy.

By Mr. George-Sp. C. ATHANASOPOULOS

126

Harvard University, Graduate School of Design, Student, References

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Based, therefore, on this “principle” a for first,Expats if of not final, approach, the term 1 https://www.internations.org/expat-insider/2016/working-abroad-index( Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the last term (and urban gentrification) area of Planning) (or gentrification 1January access on 15th 2018). gentrification (and urban gentrification) indicated (in thefrom areathis, of Planning) (or Sociology as well), as the “refining” of a cityisarea, the removal (in various Knoerich, J., 2017.

How does outward foreign direct investment contribute Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, toways), economic development in restaurants, lessofadvanced countries?Oxford Development of social groups, usually low-income and thethis placement of artists, the operation of art galleries, etc.home However “change”,there regardless of Studies Journal, Volume 45, Issue 4, 2017. the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and theof KOFrelative Index of Globalization,has, 2017.https://www.kof.ethz.ch/en/news-andwhatever otherspeculation). consequences results also rising of land prices (and the potential events/media/press-releases/2017/04/kof-globalization-index-2017.html (last potential relative speculation).

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A description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major Luxembourg's Development Cooperation, 2014.Action Plan For GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

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Ruth search GLASS for wasbetter born in sense safety the distributed residencies outside town centres, 2018).

Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at & the heart of the city”, (possibly) Trade Investment, Ten Good Reasonsfor YouthLuxinnovation Unemployment. (2017), The sameLuxembourg year she left Germany and after continuous movements lower living cost of, “withdrawal” from private car easier access to markets, etc.where and research in Geneva, Prague, London and New York she came back to London, tostudies Choose Luxembourg. in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and McKinnon, R.I., 1973.

Money and Capital in Economic Development University informal College of London, where she continued her social research. brokers Her public action and long-term effort by organized groups, manufacturers, of buying Washington: Brookings Institute. her work are characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit.

Wil. SONS AND Ltd. London 2009.

WIKIPEDIA: The Free Encyclopedia: National Statistical Institute of Luxembourg(STATEC),2016.Statistical Gentrification: G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm adatabase: variety http://www.statistiques.public.lu. of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually

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ANTISTHENIS, the ancient Greek philosopher, (444 OECD BC - 370 BC, Athens), ANTISTHENIS, the ancient Greek philosopher, (444 BC 370 BC, Athens), Organisation for Economic Co-operation and Development (OECD), 2017b. among other wise heritage he left us, he established a great “principle”: the among other wise heritage he left us,definition he established a greatof“principle”: Luxembourg Economic forecast (November 2017), acquisition of -knowledge starts with the of thehttp://www.oecd.org/eco content concepts. the acquisition of knowledge starts with theindefinition the content of concepts. /outlook/economic-forecast-summary-luxembourg-oecd-economic-outlook.pdf Based, therefore, on this “principle” a first, if of not final, approach, the term (lastBased, access therefore, on1 15th 2018). on this “principle” is inindicated a first, if (in notthe final, approach, the term (and January urban gentrification) area of Planning) (or gentrification 1 (and Organisation Economic Co-operation and 2017c. gentrification urban gentrification) indicated (in thefrom area(OECD), of Planning) (or Sociology as well), asfor the “refining” of a cityisarea, the Development removal this, (in various Development Aid Rises Again in 2016.

OECD, 11 Apr. 2017.

Sociology as well), as the “refining” of a city area, the removal from this, (in various ways), of social groups, usually of low-income and the placement there of artists, Organisation for usually Economic Co-operation and Development (OECD), ways), of social groups, of low-income and the placement of artists, the operation of art galleries, restaurants, etc. However this “change”,there regardless of 2017d.OECD Development Co-Operation Peer Reviews LUXEMBOURG 2017. the operation of art galleries, restaurants, etc.

However this “change”, regardless whatever other consequences has, results also rising of land prices (and theof Organisation for Economic Co-operation and rising Development 2016a. whatever otherspeculation). consequences has, results also of land(OECD), prices (and the potential relative FDI Flows.https://data.oecd.org/fdi/fdi-flows.htm#indicator-chart (last assessed potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to 08.01.2017).

The term gentrification found atpeople first in the UK in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor Organisation for Economic Co-operation andproperty Development (OECD), the then observed trend of wealthy people to there buy in poor areas London, upgrade them, stay themselves sometimes and thus old residents areof 2016b.FDI Stocks. https://data.oecd.org/fdi/fdi-stocks.htm#indicator-chart (last London, upgrade them, stay themselves sometimes there and thus old residents are being indirectly “squeezed”. assessed 08.01.2017). being indirectly “squeezed”.

A description of this phenomenon is included in the work of Sociologist Ruth for Economic Co-operation and Development (OECD), AOrganisation description ofperiod, this phenomenon is situations included inwere the recorded work of Sociologist Ruth GLASS at the same while similar in other major 2016c.Luxembourg: Member Profiles.Evaluation in Development Agencies.

GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

Organisation for Economic Co-operation Development (OECD), cities in Western countries, bypreoccupied other Researchers.

Since then, the issue has severaland scholars and for its more 2014.Final Officialthe Development Assistance Figures in 2014.

Since then, issue has preoccupied several scholars and for its more comprehensive approach are being summarized below, from the various Organisationapproach for Economic Co-operationbelow, andfrom Development comprehensive are being summarized the various interpretations of the phenomenon of gentrification, the following: (OECD),2008.OECD Benchmark Definition of Foreign Direct Investment.4th interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups edition 2008. to “return” to the city, leaving the purlieus for several reasons: high costs in money Organisation for Economic Co-operation and Development (OECD), and time to travel from the purlieus to downtown, where work place is, lack of the 2005.Paris Declaration and Accra Agenda for Action. termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, Peter H. K. & Schuller, G., 2009.

Theshe Evolution Market Share of Berlin, where she made her first studies. In 1932 publishedof anthe important study entitled: services of health, education, entertainment “at the heart of the city”,movements (possibly) Youth Unemployment. year sheServices, left Germany and afteretcontinuous Luxembourg’s ExportsThe of same Goods and Economie Statistiques Workingfor lower living cost of, in “withdrawal” from private access markets, etc.where studies andSTATEC. research Geneva, Prague, London and car Neweasier York she came to back to London, papers du in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and Société Nationale de where Créditshe et continued d'Investissement, (last University College of London, her social https://www.snci.lu/ research. brokers Her public action and long-term informal effort by organized groups, manufacturers, of buying access onare 15th January 2018). her work characterized by a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, of in 10th edit.

Wil. SONS AND Ltd. London on 2009.

WIKIPEDIA: The Free Encyclopedia: STATEC, 2017a.Net annual income foreign direct investment Gentrification: G. ALEXANDRI: Abstract. wetzel/gentry.htm aLuxembourg variety of ways, order to achieve “assisted”, “voluntary”, 2012 -in 2016 according tohttp://www.uncanny.net/ thethe extended directional principle.(actually

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GENTRIFICATION Definition, Types of Intervention, http://www.statistiques.public.lu/stat/TableViewer/tableViewHTML.aspx?

Definition, of intervention, (last ConcernsTypes of Gentrification ReportId=14005&FldrName=4&Language=fra&MainTheme=5&RFPath=112 assessed 08.01.2017).

Concerns STATEC, 2017b. MD World Competitiveness Yearbook 2017 et Digital

Competitiveness Ranking,http://www.statistiques.public.lu/fr/actualites/economieBy Mr. George-Sp. C. ATHANASOPOULOS finances/competitivite/2017/06/20170601/index.html (last ofaccess 15th Harvard University, Graduate School Design,on Student, January 2018).

By Mr. George-Sp. C. ATHANASSOPOULOS Architect STATEC, 2016a.Net year-ending foreign position of Student investment of the School of Architecture Luxembourg by partner 2012-2016 according to Technical the extended directional University of Crete principle.

1. Introductory approach: Defining the concept http://www.statistiques.public.lu/stat/TableViewer/tableView.aspx?Repor 1.

Introductory the concept (444 BC - 370 BC, Athens), tId=15415&IF_Language=eng&MainTheme=5&FldrName=4&RFPath=112%2c15 ANTISTHENIS,approach: the ancientDefining Greek philosopher, ANTISTHENIS, the ancient Greek philosopher, BC -“principle”: 370 BC, Athens), 399(lastother assessed among wise08.01.2017). heritage he left us, he established(444 a great the among other wise heritage he leftthe us,definition he established a greatof“principle”: STATEC, 2016b.Net year-ending foreign direct investment position the of acquisition of knowledge starts with of the content concepts. acquisition ofbyknowledge starts with thein definition content of concepts.

Luxembourg activity 2012 - 2016 according tothe the extended directional Based, therefore, on this “principle” a first, if of not final, approach, the term 1 (and urban Based, therefore, on this “principle” is inindicated a first, if (in notthe final, approach, the term principle. gentrification) area of Planning) (or gentrification 1 (and urban gentrification) is indicated (in the area of Planning) (or gentrification http://www.statistiques.public.lu/stat/TableViewer/tableView.aspx(last Sociology as well), as the “refining” of a city area, the removal from this, (in various Sociology as well), as the “refining” of a city area, fromthere this, of (inartists, various assessed ways), of 08.01.2017). social groups, usually of low-income andthe theremoval placement ways), of social groups, usually of low-income and the placement there of artists, STATEC,2016c.Inward FDI stocks (in millions EUR) 1995 – the operation of art galleries, restaurants, etc. However this “change”, regardless of the operation of art galleries, restaurants, etc.

However this “change”, regardless 2012.http://www.statistiques.public.lu/stat/TableViewer/tableViewHTML.aspx? whatever other consequences has, results also rising of land prices (and theof ReportId=15487&IF_Language=eng&MainTheme=5&FldrName=4&RFPath=112 whatever otherspeculation). consequences has, results also rising of land prices (and the potential relative %2c15484 (last access on 15th January 2018). potential relative speculation).

The term gentrification is found at first in the UK in early 1960s and it refers to STATISTA.Luxembourg: Foreigners 2007-2017.

The term gentrification found atpeople first in the UK https://www.statista.com/ in early 1960s and itareas refersofto the then observed trend ofiswealthy to buy property in poor The Legatum Prosperity Index, 2016.http://www.prosperity.com/ rankings the then observed trend wealthy people to there buy property in poor areas London, upgrade them, stay of themselves sometimes and thus old residents areof (last access on 15th January London, upgrade them, stay2018). themselves sometimes there and thus old residents are being indirectly “squeezed”. van Veenstra, M.,phenomenon L., E., H., Yakop, M., & in van P., A., G., 2011. being indirectly “squeezed”.

A description of this is included theBergeijk, work of Sociologist Ruth Economic diplomacy, trade and developing countries.

Cambridge Journal of A description of this phenomenon is included in the work of Ruth GLASS at the same period, while similar situations were recordedSociologist in other major Regions, Economy and Society 4.2 (2011): 253-267.

GLASS at the same period, while similar situations were recorded in other major cities in Western countries, by other Researchers.

World Bank’s Logistic Index, 2016.https://lpi.worldbank.org cities in Western countries, byPerformance other Researchers.

Since then, the issue has preoccupied several scholars and for its more /international/global.

Since then, the issue has preoccupied several scholars andthe for various its more comprehensive approach are being summarized below, from World Trade Organization (WTO),2017.

Trade Profiles(Luxembourg) - WTO comprehensive approach are being summarized below, from the various interpretations of the phenomenon of gentrification, the following: Statistics Database http://stat.wto.org/CountryProfile/ WSDB interpretations the phenomenon thecategory following: In a sense, theof phenomenon is dueof togentrification, a trend of a new of social groups CountryPFView.aspx?Country=LU&Language=F. to “return” to the city, leaving the purlieus for several reasons: high costs in money World Integrated Trade Solution.2017. Luxembourg Trade Statistics and time to travel from the purlieus to downtown, where work place is, lack of the (2016): https://wits.worldbank.org/CountryProfile/en/Country/LUX/Year termat comes from Sociologist Ruth GLASS, 1912-1940.

Ruth search GLASS for wasbetter born in sense1.ofThe safety the distributed residencies outside town centres, /2016/Summary.

Berlin, where she made her first studies. In 1932 she published an important study entitled: services of health, education, entertainment “at the heart of the city”, (possibly)for YouthUN Unemployment.

The same year she left Germany and after continuous movements comtrade (COMTRADE), 2016.

Statistical database: lower living cost of, “withdrawal” from private car easier access markets, etc.where studies and research in Geneva, Prague, London and New York she came to back to London, https://comtrade.un.org/. in According 1943 she published studies regarding cityphenomenon planning. In 1950 sheto became teacher in the to another approach, the is due a systematic and UNCTAD, Investment Reporther 2017 – Investment theaction Digital University College2017.World of London, where she continued social research. brokers Herand public and long-term informal effort by organized groups, manufacturers, of buying Economy.

Geneva: UnitedbyNations Publication. her work are characterized a passion for justice. See also: COLLINS ENGLISH DICTIONARY. and selling realCOLLINS estate, etc., for theCodepreciation initially of part of the urban web, in 10th edit.

Wil. SONS AND Ltd. London 2009.

The Free Encyclopedia: UNCTAD, 1999.Foreign Direct Investment andWIKIPEDIA: Development.

G. ALEXANDRI: http://www.uncanny.net/ wetzel/gentry.htm a Gentrification: variety of ways, in order Abstract. to achieve the “assisted”, “voluntary”, (actually United Nations, Sustainable Development Goals.

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