Sweden

18 Aug Sweden

Sweden’s majestic glacial landscape and rolling boreal forests enclose one of the world’s most successful open market economies. In addition to the nation’s strong manufacturing and information and communications technology sectors, the country’s recent start-up growth is now valued at more than USD 1 billion. The vibrant scene has given rise to a plethora of tech juggernauts, including video game developers King and Mojang, fintech firm Klarna and song streaming service Spotify. The World Economic Forum ranked the nation in the top ten competitive countries in the world in 2019. Additionally, Sweden is touted as the most sustainable country in the world due to the government’s successful green targets and initiatives. Currently the nation is aiming to be fossil-fuel free and use 100% renewable energy by 2050.

Sweden’s capital has become a veritable hub of environmental research led by the Stockholm Environment Institute, Stockholm Resilience Centre and Stockholm University. In 2020, the country was ranked second on the implementation of the UN’s Sustainable Development Goals. Like its Nordic cousins, Sweden’s economy has remained incredibly robust during the COVID-19 pandemic compared to the collapse of certain global markets. Even with its export-based economy, the nation saw only a 2.8% reduction in its gross domestic product in 2020, with 3% growth expected in 2021. With its GDP far ahead of its national peers, Sweden is expected to continue to serve as an example economy for other nations.