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Foreign firms look to locate in Stockholm

TT/David Landes · 21 Nov 2010, 13:16

Published: 21 Nov 2010 13:16 GMT+01:00

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“Swedish multinational companies like Ericsson and Electrolux have pull,” Anders Olshov, head of the Öresundsinstitutet research institute, told the TT news agency.

The non-profit Swedish-Danish institute, founded to encourage integration within the Öresund region, explores the issue of headquarter location in a recent book, “The location of Nordic and Global Headquarters 2010”.

According to the study, Sweden hosts the global headquarters for 14 multinational firms, which translates to an average of 1.5 global headquarters per million residents, well above the EU-average of 0.27.

Sweden is also home to two-thirds of the Nordic headquarters for large international companies, despite the fact that the country only represents about one-third of the Nordic region’s economy.

According to Olshov, Stockholm’s quality transit networks, high number of export companies, well functioning banks, and residents who speak English well are also contributing factors to making the Swedish capital an attractive destination for multinational companies.

The Öresundsinstitutet findings come from an analysis of 603 firms on the Forbes list of the world’s largest companies.

Story continues below…

The study looks at firms in 11 different industry sectors, including capital goods, chemicals, consumer durables, drugs and biotechnology, healthcare, technology and transport.

TT/David Landes (news@thelocal.se)

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Your comments about this article

14:10 November 21, 2010 by fikatid
How global is Sweden when none of their banks offer online banking in English. It's a shame that there are still many so-called researches or studies embellishing the reality. Zurich is more global in that sense.
14:25 November 21, 2010 by Rolle
This doesnt make any sense at all. With such high taxes i dont see how would a foreign firm locate big earning top-middle executives here
20:38 November 21, 2010 by bas
@fikatid - you are wrong here - Handelsbanken offer English on line banking....


Indeed I wonder how the high taxes might profit the foreign companies....
23:16 November 21, 2010 by DAVID T
swedbank offer online banking in english - i've no idea why any company would want to move their headquaters here - lazy people, can't fire them and outragious social fees
00:24 November 22, 2010 by Swedesmith
I don't think Swedes are lazy. They do have more of a relaxed attitude about work than I (as an American) was used to. However, they seem to enjoy life more and life longer lives. So who's to say what's right?

Taxes are high in Sweden but the quality of life is also.
00:57 November 22, 2010 by jackx123

you are partially correct. there is always a price to be paid for a long life and as such sweden needs a stronger manufacturing base. aka germany has the largest trade balance in the world at $203 billion.

the red tape in sweden to establish an industry beyond research, services, hq's etc is too daunting. there are may other places in the world which are preferred - unfortunately.

the welfare system in sweden WAS one of the best in the world 20 odd years ago However, not bad today, it has deteriorated tremendously. For instance, you would be admitted for a hernia operation in a week or so and now you may have to wait up to a year. It all comes at an expense and someone has to pay for it.
09:05 November 22, 2010 by SWOT
operational cost in Sweden is lower than other countries. This is a kind of exlaination. However, lazy Swedish is not a wrong term of describing majority of Swedes if you see how many Swedes are working in labour intensive service industries and how many are enjoying the welfare.
10:30 November 22, 2010 by Rishonim
If these companies only knew that less than 1% of those jobs will go to non ethnic Swedes they would propably rethink moving their HQ here.
13:51 November 22, 2010 by fabitto
to be more complete the article should give us a comparison with other Nordic countries, cause once I read a Danish report saying almost the same! That they attract more foreign companies than other Nordic countries.
01:52 November 23, 2010 by grantike
i wonder what Jimmie Åkesson have to say about this more foreign firm more immigrant .that will be interesting .so Jimmie its up to you now lol
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