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With outstanding technological readiness and "striking" economic influence, Stockholm stands out as the most competitive capital in the Nordic region, a report by auditing firm Pricewaterhouse Coopers has said.

PwC's "Northern Lights: The Nordic Cities of Opportunity" provides an analytical view of the social and economic performance of the Nordic capitals, assessing the cities’ competitiveness regionally and globally.

Stockholm was ranked first overall in the cumulative scoring for technology readiness, health, safety and security and economic clout.

It came first in three out of the ten indicators and finished second in four other indicators.

The report explained: "Stockholm combines quality of life with business efficiency in an unusually fluid and effective manner".

Sweden was ranked third (after Switzerland and Singapore) in this year's World Economic Forum’s Global Competitiveness Index, and the PwC report said it was "no accident" that Stockholm represented the Nordic area in the global Cities of Opportunity; finishing fourth out of 26 cities in 2011.

PwC also pointed out that Sweden and its capital were featured in many international newspapers' top travel destinations this year. The Financial Times named Sweden as the only European country to be a “top destination” for 2012, while Stockholm was lauded for its “boutique hotels and world-class restaurants”, bohemian cafés and antique shops. A week later, in “The 45 Places to Go in 2012,” the New York Times enthused about the Swedish capital’s “trendsetting fashion” and “urban cool”.

Although each capital has unique qualities, the report pointed out that there were many factors shared among them and that there is a clear Nordic consensus on political and economic issues.  

"The Nordic capitals are a cluster of high-performing, attractive cities that show a strong potential for regional collaboration in order to compete globally," it said.

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This article was published in collaboration with Stockholm Business Region.

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Last Updated (Monday, 30 July 2012 09:50)

 

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