Traditionally, Sweden relied on a modern agricultural economy that employed over half the domestic workforce. Today, Sweden further develops engineering, mine, steel, and pulp industries, which are competitive internationally, as evidenced by companies such as Ericsson, ASEA/ABB, SKF, Alfa Laval, AGA, and Dyno Nobel.
Manufacturing is export-oriented and produces the bulk of Sweden's export income. Nevertheless, the number of workers employed in private industry is smaller than the number of public employees. Sweden is a major world exporter of forest products. Timber is transported via a dense road and rail network.
It has the world's 14th highest GDP per capita and ranks very highly in quality of life, health, education, protection of civil liberties, economic competitiveness, income equality, gender equality and prosperity.
Nearly 70 per cent of Sweden's billionaire wealth comes from inheritance, third highest on my list after France and Germany. Sweden is not the only big welfare state to see a billionaire boom in recent years — France has too — but each has special imbalances. Sweden's include distorted taxes and easy money.
Scandinavians have the world's highest income equality and low capital gains taxes. Plus the welfare state takes care of things like health and childcare that can be real stumbling blocks for entrepreneurs when they want to establish a company. Banks are also quite generous when it comes to investing in small business.
The economy of Sweden is a highly developed export-oriented economy, aided by timber, hydropower, and iron ore. These constitute the resource base of an economy oriented toward foreign trade.
Swedish society is based on equality and individualism. Swedes are proud of their nation and its accomplishments. Lagom, which means “not too much, not too little…just right” is a word often used and heard in Sweden. Swedes also have a profound respect for integrity.
An industrial expansion in the latter half of the 19th century transformed the society on many levels. Natural-resource-rich regions benefited from the First Industrial Revolution. A growth surge in Sweden later benefited virtually the whole country during the Second Industrial Revolution.
A referendum held in September 2003 saw 55.9 percent vote against membership of the eurozone. As a consequence, Sweden decided in 2003 not to adopt the euro for the time being. If they had voted in favour, Sweden would have adopted the euro on 1 January 2006.
The effective taxation rate in Sweden is commonly cited as among the highest in the world; see list of countries by tax rates. Sweden has a taxation system for income from work that combines an income tax (paid by the employee) with social security contributions (employers contributions) that are paid by the employer.
Ostermalm is where you live if you have money. It's been that way since the early 1900's. Streets are straight and rather wide, shopping limited but there are good restaurants (and the British pub Tudor Arms). There are not many attractions apart from the History museum.
The emphasis has shifted from export of raw materials and semimanufactured products (pulp, steel, sawn wood) to finished goods, dominated by engineering products (cars, telecommunications equipment, hydroelectric power plant equipment) and, increasingly, high technology and chemical- and biotechnology.
Over 80% of Swedes belong to the Lutheran Church of Sweden; although many don't practice their religion, the moral influence on the Swedish culture is evident. The remaining 20% ??is shared by Catholics, Orthodox Christian, Jews, Muslims and Buddhists.
It is dominated by groups such as Volvo, Saab, Ericsson, ABB, AstraZeneca, Electrolux, Ikea, H&M, etc. Sweden's main manufacturing activities are steel, automotive, chemical, forestry, industrial machinery and equipment, automation and food processing equipment.
The official currency of France is the euro - abbreviated to EUR. 1 Euro is divided into 100 cents. The euro was initially introduced to France in 1999, becoming the official currency in 2002. Prior to the use of the euro, the official currency of France was the French franc.
The family, which prides itself on active ownership, holds critical board positions across its companies. According to the Financial Times, the Wallenberg business empire is worth an estimated €250 billion, placing it in the same financial league as Elon Musk.
Each of these factors makes Sweden an outstanding place to live. Sweden performs well because of the country's focus on environmental issues, civic engagement, education, health and well-being, personal safety, and having a good work-life balance — themes common in Scandinavian countries.
The Swedish diet is very varied with a healthy mix of whole grains, lean protein (lots of fish but also game), a focus on vegetables, berries, fermented dairy – all things that have been hailed as part of the healthy Nordic Diet.
One of the key characteristics of Swedish culture is that Swedes are egalitarian in nature, humble and find boasting absolutely unacceptable. In many ways, Swedes prefer to listen to others as opposed to ensuring that their own voice is heard. When speaking, Swedes speak softly and calmly.
Health care, as well as a college education, are free, and its people boast one of the longest life expectancies in the world. Almost all of Sweden's trash is recycled. Swedes are some of the world's most generous people, donating about 1% of gross national product to humanitarian aid programs each year.
