Let’s talk about Sweden and how its economy is different from Norway and Denmark, yes they have raw resources like Norway ,yes they are good traders like the Danes as well , but what truly stands apart when we look at sweden is their magnificent Industry.
Swedish steel is world famous for its quality. There is a big weapons industry, from army knives , ballistic protection vests,bazookas, tanks to big artillery to jet fighters Sweden manufactures it all. Sweden’s manufacturing sector is renowned for its quality for details and precision.Cars, Volvo is owned by China but let us just call it Swedish so we don’t anger all the blond Swedes. In my opinion the best car brand from Sweden is not Volvo but Saab.
Anyone who has been fortunate enough in life to drive a turbo Saab cabriolet on narrow Swedish country roads on a hot July evening will agree with me. It is one of those moments that you cherish for life.
And yes we have to mention the big boring IKEA that has conquered the world. I am sure I am being unfair, it is just because all my memories of hours and hours I have spent building the IKEA furniture comes back to me, not good times and not my proudest moments. Most of the time I have called my friends and made a business deal , them assembling my IKEA furniture, me bribing them with Turkish sausage and food.
How is it even legal to call it furniture when it is made from sawdust?
But hey it’s practical, and the worst part is i cannot promise you i have bought my last IKEA furniture, it is just so difficult not to buy “furniture” from IKEA in Scandinavia. Sweden’s population have increased a lot in a short amount of time , from 8 million in 1980 to around 10 million today, ⅕ of all swedes have a immigrant background. In the 90es a lot of immigrants from former Yugoslavia came to sweden and in the 2000ends a lot of immigrants have arrived from Africa and middle east. Sweden has a more relaxed approach to immigration, at the same time this is a source of much tension and debate in Sweden. Sweden’s Industry needs low wages for its industry. Sweden has been much more dependent on immigration then Denmark and Norway for it to be competitive. Sweden has lower tax, and lower salaries and most things are cheaper then Denmark and Norway,especially Norway. Cars are of course much cheaper as well , one of the big benefits of Sweden is cheaper cars when compared with Denmark and Norway. Denmark is the most expensive country to buy a car because of the tax system.The highest wealth gap is by far Sweden in Scandinavia. It is much easier to differentiate between the different income classes in Sweden. The swedish aristocracy keeps its distance from the man on the street. People with high income are much easier to spot. Maybe in some way this is related to the fact that Swedes are by far the most hard working people in Scandinavia and they have good work ethics.Thats why more and more foreign companies prefer to have there Scandinavien HQ in Sweden.There is a different drive and competitiveness in Sweden and a much tougher labor market.
WebSite creator,Economist, Passionate Business developer