Sweden is the fourth most competitive economy in Europe and often ranks as one of the highest-performing economies worldwide. Sweden is known for its strong business climate, global competitiveness, diverse language skills and commitment to innovation. A large part of this is due to the country’s free-market environment and a highly developed education system.
Sweden is a hot spot for startups, and its two largest cities, Stockholm and Gothenburg, are home to major technology companies. Sweden is second only to Silicon Valley for having more billion-dollar firms headquartered in the region per capita. Spotify and Skype were first launched as startups in Sweden.
Sweden is among the first countries in the world to consider introducing a digital currency. Its central bank is already running a pilot project with Accenture Plc to introduce an electronic krona based on the same blockchain technology that underpins digital currencies like Bitcoin.