One of the strongest economies in Europe
As the strongest economic region in the largest Scandinavian economy, Stockholm is the natural financial centre of Scandinavia. Stockholm has the highest regional gross product and the highest growth rate among Scandinavian capitals.
While in Europe, Eurostat statistics rank Stockholm third – after London and Manchester – for average growth in regional gross productivity per citizen. Stockholm reported an increase of 5.5% in its regional gross product in 2004 to about USD 101 billion.
The companies that have set up in Stockholm have played a huge role in making this city so successful. The region itself has nearly 100,000 companies and during the coming years 80 000 new job opportunities/year are predicted by The Confederation of Swedish Enterprise. The domestic demand is growing more rapidly than expected as well as the export industry. One example where this can be seen is the building/construction industry. The OECD Territorial Review of Stockholm said the capital was “undeniably one of the best performing metropolitan regions within the OECD countries, especially within European regions.”
The future looks bright
In the 2006 European Regional Economic Growth Index, Stockholm was the leading Nordic city, replacing Munich at No.5 (up from No.9 last year). This is mainly driven by rising export demand and growth in the ICT sector, boosting manufacturing businesses.
Top 20 European Regional Economic Growth Index rankings 2006
