Danes have never had it so good – report – The Post

Danes have never had it so good – report

Things are better now than before the financial crisis

The five pillars of welfare (photo: Business Ministry)
November 2nd, 2018 10:19 am| by Christian W
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According to a new report published yesterday by the Business Ministry, prosperity levels in Denmark are currently at a record high.

The report (here in Danish) showed that prosperity measured in Gross National Income (GNI) per citizen in 2017 was higher than the level in 2007 – in fact the levels have risen by 0.5 percent every year over the past decade, and in 2017, it stood at 55,220 dollars, placing it eighth in the world.

Only Switzerland, Norway, Luxemboug, Qatar, Iceland, the US and Ireland had a higher rate, with Sweden back in 10th and Finland 14th.

“We’ve talked for several years about how Denmark isn’t as strong as Sweden when it comes to generating growth in production. But we’ve still managed to create welfare on a par with the Swedes and I think that Danish companies have managed to take advantage of opportunities abroad,” said Rasmus Jarlov, the business minister.

READ MORE: Was the growth of the welfare state actually a warfare defence strategy?

Companies key
The report underlines the need to continue focusing on digitalisation and new technology – not only in Denmark, but also in the international markets, where growth potential is estimated to be particularly strong.

When accounting for growth and welfare, the report considered five sub-categories: Digital transition in business, Qualified labour, Access to venture capital, Low expenses for companies, and Competitive companies.

“Denmark must continue to be competitive and easy to run a company in. It’s the companies that create growth and prosperity for us all, so the government will continue to ease the business sector of administrative burdens,” said Jarlov.