Nordic countries are regarded as success cases due to their competitiveness, economic performance and high standards of living for their citizens. The European House – Ambrosetti analyses the competitiveness factors of Nordic countries and how they have built their success leveraging on these elements.
The Nordic Model is widely regarded as a benchmark since many comparative studies of economic and social performance have ranked the Nordic countries very high. Also for the EU-28 Competitiveness Index, a tool prepared by the Observatory on Europe (link), which measures the current level of competitiveness of the EU-28 Member States, Northern European Countries are the most competitive followed by Western, Eastern and finally Southern European countries.
The Observatory on Europe’s EU-28 Competitiveness Index clearly shows 4 geographical clusters, characterised by different competitiveness levels: Northern European countries are the most competitive, followed by Western, Eastern and finally Southern European countries.
An analysis – presented during the 41st edition of the Forum “Intelligence on the World, Europe, and Italy”– of the Nordic countries’ competitiveness shows that they outperform the EU average in 41 of the 55 analysed key performance indicators.
The main competitiveness factors for these countries are related to 5 areas:
Even if their current strengths assure positive macroeconomic forecasts for the next 5 years, they will have to face various challenges in order to maintain their competitive advantage: the most significant are related to aging population and productivity levels.
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Managing Partner and Chief Executive Officer,
The European House - Ambrosetti