Finland – Economic Performance, Sustainability, Country Brand Strength and Reputation

Finland, renowned for its natural beauty and technological innovation, seamlessly blends picturesque landscapes with modernity. Helsinki, its dynamic capital, serves as a hub for contemporary art, technology, and startups. The nation’s inclusive education system and prowess in industries like telecommunications and clean energy underscore its commitment to innovation.

But how do leading rankings and indices view Finland in terms of its economic performance, country brand strength and reputation?

Let’s take a closer look at:

• Finland’s soft power and country brand strength
• Its appeal to skilled labour, investors and visitors
• The country’s global contribution to peace and well-being
• How well it fares in terms of happiness and sustainability

Soft power and country brand strength

In the Global Soft Power Index 2024 by Brand Finance, Finland secures the 24^th spot, slightly trailing Austria (23^rd) and Singapore (22^nd). Finland’s score has grown by +3.20. However, the position has dropped by two positions since last year’s Index.

In the U.S. News Best Countries 2023 ranking, Finland secures 14^th position behind Denmark (13^th) and France (12^th). Notably, Finland excels in three key areas: open for business (3^rd), quality of life (5^th), and social purpose (3^rd).

The Anholt-Ipsos Nation Brand Index (NBI) calculates its ranking based on averaging the scores of six different factors: exports, governance, tourism, culture, people and immigration, and tourism. According to the NBI 2023 ranking, Finland secured the 15^th position, an improvement by one position from the 2022 ranking.

Is Finland a ‘good’ country?

In the Caf World Giving Index 2023, Finland ranked 72^nd, trailing behind the Czech Republic (41^st) and Iran (40^th). Notably, Finland performs admirably in the subfactor of helping a stranger, with 57% of the adult population partaking in such activity. Finland slightly improved from 74^th position in the Caf World Giving Index 2022.

In the Good Country Index, Finland currently holds 5^th overall position, dropping from 1^st in 2021. Finland is admirably ranked 1^st in Planet & Climate, climbing from 6^th place in 2021. 

Finland ranks well in subfactors like Prosperity & Equality, ranked 5^th (an improvement from 52^nd position in 2022), Science & Technology (17^th), Culture (11^th), but lags in International Peace & Security (ranked 63^rd, a drop from 34^th place in 2022).

According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Finland ranked in the dark blue zone (9-10 range) with a 9.29 out of 10. This is similar to other Nordic countries: Sweden (9.39), and Norway (9.81), but notably higher than neighbouring Russia (2.28) or nearby Belarus (1.99).

The 2022 Corruption Perception Index ranks Finland 2^nd, tying with New Zealand (2^nd). Its score dropped by one point since 2021.

The Sustainable Development Report 2023 ranks Finland first. The Report highlights that, despite ranking first, it still faces some challenges in SDG 2 (Zero hunger), SDG 12 (Responsible consumption and production) and SDG 13 (Climate action).

Talent attraction and competitiveness

The World Economic Forum Global Competitiveness Index 2019 edition placed Finland at 11^th position among 141 countries. However, it’s important to note that an updated version of this report hasn’t been released in the past five years, and rankings may have shifted since then.

Finland, classified as a high-income country within the Europe regional group, currently holds the 6^th overall position and 4^th regional position in the Global Talent Competitiveness Index 2023. Notably, it ranks high in all pillars, however the best one is the Enable pillar (3^rd), while the GK Skills pillar presents the country’s biggest challenge, where it ranked 17^th.

In terms of education excellence, Finland does not have any university within the top 100 worldwide, according to the World University Rankings 2024. However, the University of Helsinki ranked 121^st.

Appeal to talent, business, trade and travel 

The Expat Insider 2023 notes Finland ranks 16^th behind Brazil (15^th). The country performs well in Environment and Security (2^nd), Safety and Security (3^rd), Work Culture and Satisfaction (3^rd), Work and Leisure (1^st), Digital Life (1^st), etc. However, the country needs improvements in Leisure options (35^th), Career Prospects (33^rd), Culture and Welcome (25^th), Local Friendliness (27^th), or Finding Friends (38^th).

As per the UNCTAD World Investment Report 2023, Finland secured 19th position for FDI outflows in 2022, trailing behind Taiwan (18^th) and Saudi Arabia (17^th). In 2021, Finland ranked 28^th.

The Bloom Consulting biannual Country Brand Ranking Trade Edition 2022-2023 assesses investment-related variables, emphasising perceptions of a country’s trade-specific brand and evaluating branding performance. Regionally, Finland ranks 15^th, surpassing Romania (16^th) and behind Luxembourg (14^th). Worldwide, it ranks 33^rd.

In addition, the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 places Finland takes the 19^th position in the Europe Region, climbing one position since last year’s ranking. It ranks behind the Russian Federation (18^th) and Denmark (17^th). Worldwide, the country ranks in the 40th place, behind Maldives (39^th) and surpassing South Africa (41^st). The Nordic country captivates travellers with its natural beauty, rich culture, and innovative design, offering a unique blend of tradition and modernity to explore and enjoy.

In the IMD 2023 World Competitiveness Ranking, Finland secured the 11^th position, dropping by three positions since 2022. Currently, it sits just behind the UAE (10^th) and the USA (9^th) while surpassing Qatar (12^th) and Belgium (13^th).

Regarding specific characteristics, Finland ranked 39^th in economic performance in 2023. Government efficiency ranked 13^th and experienced a slight drop of three positions compared to 2022. Finland also slightly dropped its position for business efficiency from 5^th in 2022 to 9^th in 2023. Infrastructure in the country ranked 3^rd, with a slight improvement of one position since 2022.

How peaceful is Finland?

Is Finland a peaceful and safe place to be in?

The Global Peace Index 2023 ranks Finland 13^th climbing three positions since last year’s index. Finland now sits ahead of Croatia (14^th) and Germany (15^th). Finland is positioned 9th regionally amongst its fellow Europe Region, led by Iceland (1^st) and Denmark (2^nd).

The Institute for Economics & Peace similarly ranks Finland within the no impact zone in terms of ‘Impact of Terrorism’ in the 2024 Global Terrorism Index. It ranks 89^th, tying with countries such as Czechia or Romania.

Meanwhile, the World Happiness Report 2023, which displays the Ranking of Happiness based on a three-year-average 2021–2023, ranks Finland first. The country has been leading the index for many years and ranked 1^st in both previous 2023 and 2022 reports. It also ranked 7^th for happiness amongst youth (age below 30).

Environmental performance

How does Finland perform in rankings measuring environmental sustainability?

The 2022 edition of the Environmental Performance Index (EPI) ranks Finland 3^rd. The EPI analyses the performance of 180 countries, scoring and ranking these countries on their environmental performance using the most recent year of data available, as well as providing calculable changes in scores over the previous decade. The country has experienced a change in score of positive 21.00 in the past 10 years.

Last updated in April 2024. More country profiles here.

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