In addition to being an amazing place to visit, Sweden is also a remarkable place to live and study. Business students, in particular, will discover a number of unique benefits of choosing Sweden as a study destination. Here’s a closer look at why you should study business in Sweden, along with the abundant opportunities that comes with it.
1. Sweden is an innovation center
Sweden is second only to Silicon Valley for the number of ‘unicorns’ (billion-dollar venture capital-backed start-ups) per capita. Spotify, Skype, Oatly, and Minecraft, are examples of Swedish unicorns that have become household names around the world in recent years. Sweden’s status as an innovation hub makes it uniquely startup-friendly. Education has long been a national priority, and the country pumps more than 3% of its GDP back into research and development.
The population of Sweden is only around 10 million, which means entrepreneurs tend to think globally. But while the Scandinavian country’s success stories may be epic in scale, big business doesn’t need to come at a cost to daily life.
2. Sweden is a sustainability leader
Sustainability is no longer a nice-to-have but a necessity for today’s businesses. Sweden is the ideal location to witness sustainable thinking in action. The country is number one in the EU for organic food consumption and renewable energy usage and the environmental tech sector employs around 40,000 people and boasts revenues of about SEK 120 billion ($12bn).
Sweden was one of the first countries to establish a carbon tax and is working to become the world’s first fossil-fuel-free nation. It is an exciting opportunity for engineers and entrepreneurs alike. And many Swedish businesses are happy to share the responsibility and challenge of sustainability alongside the government.
3. Sweden boasts of a strong, knowledge-based economy
There are two ideal types of place to study business and economics: somewhere where they’re getting the economy very wrong, or somewhere where they’re getting it very right. Sweden is decidedly the latter. Sweden suffered a severe economic crisis in the early 1990s: with low growth and employment, and high inflation and national debt. Today the Swedish economy boasts one of the highest GDPs per capita in the world.
The secret to the success story? The courage and innovation of successive governments’ economic reforms, and a thriving export economy that capitalizes on new tech and exciting start-ups, in addition to established industries and corporations.
4. The Swedish innovatory spirit is alive and well at its universities
Sweden’s universities play a big part in this culture of innovation. Swedish investment in education pays off not just through the cultivation of a highly-educated, progressive society, but through demonstrable developments in business, science, and technology.
Sweden’s higher education landscape is highly diverse. Around one-fifth of students come from outside the EU, according to University World News, contributing to an overall proportion of 40% international students in the country’s higher education system. This makes university fertile ground for new ideas and perspectives. Plus, researchers at Swedish schools automatically own the rights to anything they invent, a highly motivating factor for innovation.
Sweden is a phenomenal place to visit, study, or live. It’s also an excellent destination for business studies, thanks to future-oriented local businesses and institutions.