Business in the Nordic Region

Erhvervsbygning med mennesker
Nordic co-operation supports the development and competitiveness of Nordic business. Initiatives promoting green technology, digital transition and the bioeconomy are central to this work.

New companies

Entrepreneurship and the development of small and medium-sized enterprises (SMEs) are key drivers of economic growth and job creation. Norway and Iceland stand out in this context, as they have seen significant growth in the number of new companies in the last decade. All of the countries have seasonal fluctuations.

New companies

Foreign investment

Foreign direct investment refers to not only the inflow of ​capital from abroad, but also the inflow of ​​technology, knowledge, skills and expertise/know-how. This is an important source of non-debt-based financial resources for the growth of national economies. In 2021, the inflow of investment to Sweden (as a proportion of GDP) was slightly greater than to the other Nordic countries.

Foreign direct investment (inward) 2021


The tourism statistics include an estimate of the number of available hotel beds and overnight stays in each country. All of the Nordic countries have experienced growth in the tourism sectors, but Iceland in particular has enjoyed a boom in recent years. The pandemic had a significant impact on all of the countries in 2020. ​

Overnight stays by tourists

More facts about Nordic business

The Nordic Statistics database for business includes data for tourism and transport, as well as structural business statistics.

Nordic Innovation publishes analyses and information about entrepreneurship, innovation and competitiveness in Nordic companies.  

State of the Nordic Region contains analyses, figures and statistics about business in the Nordic countries presented from a regional angle.

Further information about business life and Nordic co-operation is available here