Sweden has a strong international image. It’s the land of snow, Volvo, Ericsson, IKEA, the famous meatballs, Abba – and cutting-edge industries that are sometimes barely recognised in the rest of Europe. Did you know that 92 per cent of retail transactions in Sweden are digital payments? Or that 99 per cent of medical prescriptions are also digital?
When we think of Sweden and the opportunities that this market can offer to Portuguese companies, some specific sectors don’t immediately come to mind, such as life sciences, information and communication technologies (ICT), or energy. But these are some of the areas that may surprise you, as Sweden goes far beyond the obvious.
The life sciences sector is vital in Sweden, accounting for 3 per cent of the country’s GDP and employing 40,000 people in around 1,000 companies. The vast majority are located in the three metropolitan areas: Stockholm/ Uppsala (54 per cent), Gothenburg (16 per cent) and Malmö/Lund (21 per cent). Sweden is one of the world’s leading countries in research and development (R&D), leading in several areas such as oncology, neurosciences and metabolic diseases.
Article by Miguel Fontoura, Director of AICEP's Nordic Market Delegations
