The Global Information Technology Report 2014, by World Economic Forum and business school INSEAD, ranked Sweden third place, beating countries such as the United States and Germany.

“Overall, the very strong performance of Sweden reflects its world-class, affordable ICT infrastructure and a stable and pro-business and innovation environment, despite its high tax rate,” the report said.

“These strengths result in outstanding uptake and use of ICTs by individuals, businesses, and government and one of the highest technological and non-technological innovation performances in the world, making Sweden a truly knowledge-based society.”

A separate study, Cities of Opportunity by consultants firm PwC, hailed the Swedish capital for its quality of life and business environment. The city joined the top three in technology readiness. Within the indicator for technology Stockholm ranked number one for its digital economy.

Ulla Hamilton, Stockholm’s deputy mayor for entrepreneurism, explained that the city has a constantly growing population willing to try new techniques and digital services.

“Stockholm is one of the fastest growing cities in Europe. On population, it is bigger than ever and growing. New businesses are springing up, and it’s a very creative city”, she said in the report. “It’s a big change from 10 or 15 years ago”.

What is Stockholm doing right to attract and keep people?
“We have a lot of interesting companies and interesting jobs. Combine that with the city overall—we have good restaurants with great chefs, entertainment, closeness to nature, both in terms of greenery and water. It is a combination of things”.

The top 10 spots in the World Economic Forum /INSEAD report continue to be dominated by Northern European economies, the Asian Tigers, and some of the most advanced Western economies.

The report highlighted that the need for ICT solutions has grown even more important in the aftermath of the global financial crisis.

“Information and communication technologies —in their role as key enablers of innovation and new employment opportunities—are drawing more attention than ever before,” said Jennifer Blanke and Alan Marcus of the World Economic Forum in the report’s foreword.

“As the benefits of ICTs increasingly materialize into tangible assets, building and strengthening digital ecosystems becomes increasingly important”.

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This article was sponsored by Stockholm Business Region.

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