During last years Sweden has developed a highly competitive capitalist economy with a system known as the Nordic Model. International investors are attracted to the country’s stability and high tech economy, particularly during global economic crisis of 2008. Since early 90s Sweden’s economy has grown to become the fourth most competitive in the world with strong GDP growth prospects and low inflation. In 2010 Swedish economy expanded by 5.5% last year, making it the fastest growing economy in Western Europe. Moreover Sweden is one of the few countries to increase its workforce during the financial crisis, adding 100,000 people. Sweden’s unadjusted jobless rate was 8.2% in January, as the number of unemployed workers fell by 44,000 year-over-year to 408,000. Perhaps even more impressive is that the World Economic Forum ranks Sweden second in the world in global competiveness – ahead of the United States and Singapore, and behind only Switzerland. Or the fact that Sweden benefits from the world’s most transparent and efficient public institutions and low levels of corruption acording to 2010-2011 Global Competitiveness report.
Starting business in Sweden is fast and easy. The country has an international business environment that is modern, open and business-friendly. Skilled professionals, smooth business procedures and receptivity to international partnerships make it an easy country to operate in. Information is readily available, open and transparent. To start a company in Sweden is quick and straightforward. Information about the process and necessary forms are readily available online and in English. Furthermore Sweden is one of the most competitive locations for corporate taxation in Europe. This is confirmed in comparative surveys and in analysis by international tax consultants. Besides offering an attractive package, Sweden’s corporate tax system is transparent, enables easy access to information and the national tax authority is efficient and service-minded.
Sweden’s science infrastructure is world-class. High investment in higher education and basic research has propelled Sweden to a prime position among European economies in terms of university enrollment, workforce skills and R&D. Sweden also hosts an excellent infrastructure. It matches or outperforms that of any other European country. Extensive public investment ensures a nationwide network of roads, railroads, waterways, harbors and airports. The challenging exposure to hot summers as well as arctic winters have contributed to high quality and reliability in building and construction, transportation and communications, and also to the competitiveness of Swedish companies in the international market for infrastructure projects.
Exports have been a terrific boon for the Swedish economy as well. Swedish exports climbed 21% in December from a year earlier, as the nation posted a trade surplus every month last year except August. The country aims to double exports to about $310 billion by 2015.