Sweden has most recently been ranked as the world’s sixth richest country in regards to average wealth per adult. As such, Swedes tend to spend more of their disposable income on shopping and thus the market becomes a great place for international brands to expand.
Average wealth in Sweden, according to Credit Suisse’s annual report was US$294,692. This figure is derived from real assets minus total debts.
Information also shows that a large portion of Swedes income is then spent on fashion, furniture and retail goods and the capital city of Stockholm attracts shoppers from around the globe.
Because of store such as H&M, which has now become one of the leading clothing chains around the world, the fashion sector has increased 75 percent and on average, Swedes spend more than most western countries and this number is up by 7%.
Retail sales are also expected to swell in Stockholm as the Swedish capital experiences a higher population growth rate compared to other leading European cities. Stockholm is expected to see a 17 percent increase in its number of citizens by 2020 compared to 2000, according to the Stockholm Chamber of Commerce. By contrast, London is expecting an increase of 9 percent and Paris 3.5 percent.
Sweden’s 5.5 percent growth rate last year was more than any other developed nation in Europe, beating the 2.8 percent increase in the US. The economy also expanded faster than most analysts estimated in the third quarter of this year (4.6 percent) as exports picked up and companies continued investing.
Simply put; Sweden has wealthy consumers with high purchasing power.
Article found on http://swedishwire.com/index.php?option=com_content&view=article&catid=1:companies&id=12361:growth-potential-in-fashion-hungry-stockholm
The Ambassador of Sweden to Colombia
The Ambassador of Sweden in Bogotá, Marie Andersson de Frutos, participated in the inauguration of the new Scania facilities with a keynote address.
The Swedish company engaged in the manufacture of buses and trucks and opened offices in Colombia a little over a year, a great sign of confidence that Scania has in the country. The company has over 750 vehicles in circulation in several cities. For 2011, sales hover at 450 units and there still stands a contract for 300 buses patterns worth nearly 100 million dollars. Additionally, it is expected that by 2012 the level of sales multiply.
In the short time that Scania has been in the country, investments have exceeded $ 5 million and include new sales and service facilities for their vehicles. These were inaugurated in a ceremony on Wednesday October 12 in Bogota to complement existing in Barranquilla. It is expected that other branches will open in Medellin in 2012, and Cali and Bucaramanga in the next two years.
Ambassador Andersson emphasized, “Scania has not been limited to its core business. The company has gone beyond its obligations and has shown real commitment to the country, not just a quality of life issue for employees, but working directly with Swedish and Colombian entities to be part of the solution to the conflict. Together with the Ideas for Peace Foundation, NIR and the High Council for Reintegration, Scania is in the process of implementing a project of technical training for youth at risk of recruitment. This important work will not only provide education for these young people, but opens the door to better choices for themselves, away from armed conflict. ”
“This company is a clear representative of the dedication and professionalism of Swedish companies in Colombia have seen a great potential to grow and contribute to the development of the country.”
The Swedish company Speeron, specialized in services and solutions for the hospitality industry, will offer customers the software “Speeron Piccolo“, developed by Colombians, to automate the process of check in / out.
Speeron looked at the growth of the hospitality industry in Colombia, increased security and legal protections offered by the national government for foreign investors to settle in Colombia.
The company focused on providing technology services and solutions to the world major hotel chains, such as Accor, Hilton, Best Western, among others, according to their needs and projections, looking from Bogotá not only enter the Colombian market but set in the national capital in Latin America operations.
Source: Proexport (Article in Spanish)