ABOUT SWEDEN
Photo: Henrik Trygg/imagebank,sweden.se
Sweden is a thriving, innovative and globally connected society located in Northern Europe, blessed with a vast landscape of wilderness including forests, lakes and rivers, with mountain ranges in the north and a long sea coast with thousands of islands. It has the fifth largest surface area among European countries, approximately corresponding to the size of California, stretching 1574 kilometres from north to south.
Geography and climate partly explain why a strong industry and infrastructure development has been vital to our prosperity – from steel making and forestry production to roads and railways to telecommunications and broadband, to vehicle and aircraft manufacturing to highly advanced life sciences. Our people and companies combine high-skilled production with care for both the environment and society at large. Policies enabling widespread access to technology and the internet have contributed to making Sweden the fast-moving, innovative nation it is today.
Sweden’s economy and business environment is praised internationally: as the most innovative country in the EU, second most innovative country in the world and one of the best countries in Europe for business.
Key Facts
Population : 10,673.669 (2024)
Capital: Stockholm
GDP per capita: 56,373.8 USD (2024)​
Rankings
#1
In the infrastructure index
#1
In the business sophistication index
#1
Most innovative country in the EU, and 2nd most innovative economy globally
#2
In the knowledge and technology outputs index
#3
In the human capital and research index​
#4
Most trustworthy country in the world​​​
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Innovation, Sustainability and Industrial Excellence
Sweden is a Nordic country known for its innovation, social welfare system, and high quality of life. With a population of around 10 million people, Sweden boasts a strong economy driven by sectors like manufacturing, technology and healthcare. Its strong commitment to sustainability sets it apart on the world stage. Sweden's industrial history is characterised by innovation and excellence across various sectors. It began with iron and steel production together with forestry and paper, followed by engineering and manufacturing, with companies like SKF and Volvo gaining global recognition.
Sweden's technology sector, led by companies like Ericsson, has also been influential, along with advancements in renewable energy and life sciences through companies like AstraZeneca. Throughout history, Sweden's commitment to quality and sustainability has remained central to its success. Being the birthplace of the Nobel Prize, Sweden continues to be home to academic excellence and offers some of the world’s most renowned universities and research institutes.
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A Highly Educated and Internationally Oriented Society
Since access to free education is a key priority, the Swedish population has become increasingly highly educated, and nearly 25% of the Swedish population between 16 and 74 years had attained a post-secondary education of three years or more in 2022. Sweden's higher education system is renowned for its quality, accessibility, and innovation. Emphasising research and sustainability, Swedish universities prioritise internationalisation, welcoming students and faculty from across the world. Sweden's education system emphasises critical thinking, creativity, and problem-solving, nurturing a skilled workforce adept at innovation.
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In Sweden, the Triple Helix model—collaboration between academia, industry, and government—has been pivotal in driving innovation and economic growth. Swedish universities work closely with industries and receive support from government agencies like Vinnova. This collaboration fuels research, technology transfer, and commercialisation efforts, enhancing Sweden's competitiveness on the global stage.
A Global Hub for Innovation, Startups and Investment
With a world class R&D sector, Sweden has a booming startup and scaleup scene. Providing a great environment for companies to thrive and expand their businesses and brands, Sweden offers great opportunities to introduce new ideas into the global market, and this in turn has made Sweden consistently top-ranked among the innovative countries in the EU. Having access to EU and Nordic markets, with an advanced infrastructure, Sweden also boasts of an exceptional quality of life. The strong economy and stable government makes it an attractive location for foreign investments.
There are no restrictions or disadvantages for foreign investors, the rules are clear for employment and redundancy of employees and the corporate tax framework is competitive. Sweden was ranked 10th out of 190 economies for ease of doing business, according to the World Bank’s Doing Business report for 2021.
