Sweden – Country Performance, Brand Strength and Reputation

Sweden: How does the Nordic country, with more than half of its territory covered in forest land, perform in global rankings that measure environmental sustainability and economic competitiveness? How easy is it to start a business in this EU country that has maintained its own currency? What about Sweden’s reputation as a nation brand? Has the country’s political neutrality in international conflicts contributed to its global reputation?

Let’s take a closer look at:

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

Sweden’s Soft Power and Country Brand Strength

In the Global Soft Power Index 2023 by Brand Finance, Sweden’s soft power has been recognised globally, with the country’s score increasing by 2.8 points in 2023, resulting in the nation climbing up the ranking by 3 spots to the 11^th rank, retaining its position as the most highly ranked Nordic soft power, followed by Norway (17^th rank). Sweden ranks 3^rd globally in the “Sustainable Future” pillar, reflecting the nation’s efforts towards environmental sustainability.

In the U.S. News Best Countries 2023 ranking, Sweden secures the 3^rd position, behind Switzerland (1^st) and Canada (2^nd); a jump of two positions from the previous year. Notably, it leads in two key areas: Social Purpose (1^st) and Quality of Life (1^st).

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. According to the NBI 2023 ranking, Sweden secures the 10^th position, a drop of one position since 2022.

The World Economic Forum Global Competitiveness Index 2019 edition placed Sweden at the 8^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.

In the IMD 2023 World Competitiveness Ranking, Sweden placed 8^th, which is a drop of four positions from the 2022 ranking. In terms of specific characteristics, its economic performance dropped seven positions to the 28^th spot in 2023. It holds the 14^th position for Government Efficiency, experiencing a drop of five positions compared to 2022. Lastly, Sweden dropped four positions for Business Efficiency, now placing 6^th, and holds the 4^th spot for Infrastructure, a drop of one position.

How Attractive for Talent?

Sweden, classified as a high-income country within the European regional group, currently holds the 9^th position in the Global Talent Competitiveness Index 2023. Notably, Sweden performs most remarkably in the Enable and GK Skills pillars, where it holds the 6^th position for both, with its main challenge being the VT Skills pillar, where it ranked 19^th.

In terms of education excellence, Sweden boasts two universities within the top 100 worldwide, according to the World University Rankings 2024. These esteemed institutions are Karolinska University and KTH Royal Institute of Technology.

Appeal to Investors, Trade, and Travel

The Expat Insider 2023 ranks Sweden in 24^th position out of 53 countries, below the Netherlands (22^nd) and Switzerland (23^rd). Its best metrics are Work and Leisure (2^nd), Work Culture and Satisfaction (2^nd), and Environment and Climate (4^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, Sweden placed 10^th, behind Spain (8^th) and Turkey (9^th). Globally, Sweden secures the 22^nd position, a jump of two positions from the previous ranking.

In addition, the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 places Sweden at the 29^th global position. Regionally, it continues to hold the 15^th position, sitting behind Norway (13^th) and Ireland (14^th).

According to the European Innovation Scoreboard 2023, Sweden belongs to the first group, Innovation Leaders, alongside Belgium, Finland, the Netherlands, and Denmark. It has experienced a change of +10.4% between 2016-2023. Its strengths are: Public-private co-publications, Lifelong learning, International scientific co-publications, Foreign doctorate students, and Employed ICT specialists. Its weaknesses are: Job-to-job mobility of HRST, Resource productivity, Non-R&D Innovation expenditures, Government support for business R&D, and Medium and high-tech goods exports.

Sustainability Performance

The 2022 edition of the Environmental Performance Index (EPI) ranks Sweden 5^th. 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. Sweden has experienced a change in score of +15.8.

The Sustainable Development Report 2023 ranks Sweden in 2^nd position. It highlights that Sweden, although in the top 10, still has some challenges to overcome. However, the No Poverty and Gender Equality factors have achieved the status of SDG achievement and continue to be on track, while the Affordable and Clean Energy factor has reached the SDG achievement status and is moderately increasing. Lastly, Clean Water and Sanitation is on track, although some challenges remain.

Sweden as a “Good” Country?

In the CAF World Giving Index 2023, Sweden secured the 25^th position, jumping twenty-five positions compared to the previous year. Notably, Sweden performs admirably in the subfactor of donating money (6^th), with 65% of its adult population donating money.

In the Good Country Index, Sweden currently holds the 1^st position overall, with notable subfactors as follows: Science & Technology (15^th), Culture (13^th), International Peace & Security (39^th), World Order (9^th), Planet & Climate (2^nd), Prosperity & Equality (1^st), and Health & Wellbeing (2^nd). The country has maintained its 2022 positioning.

According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Sweden ranked in the dark blue zone (9-10 range) with a score of 9.39 out of 10. This is higher than Denmark, which scored 9.28, and Ireland at 9.13, but lower than Norway, which scored 9.81.

The 2022 Corruption Perception Index ranks Sweden 5^th with a score of 83/100. Sweden’s score has decreased by two points since 2021.

Peace and Happiness

The Global Peace Index 2023 ranks Sweden 28^th, jumping one position from last year’s index. Sweden sits behind Latvia (27^th) and above Poland (29^th). Sweden falls under the high sector of the ‘State of Peace’ spectrum, as defined by the Institute for Economics & Peace.

The Institute for Economics & Peace similarly ranks Sweden within the medium impact (orange) zone in terms of ‘Impact of Terrorism’ in the 2022 Global Terrorism Index. Sweden ranks 64^th, sitting between Saudi Arabia (63^rd) and Switzerland (65^th).

Meanwhile, the World Happiness Report 2023, which displays the Ranking of Happiness based on a three-year average (2020–2022), ranks Sweden 6^th.

Last updated in October 2023. More country profiles here.

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Disclaimer: The information in this article is intended to provide a general overview of Sweden’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.