Sweden, officially known as the Kingdom of Sweden, is located in Northern Europe, bordering Norway and Finland. It’s the third largest country in the European Union, based on area, which it became a member of in 1995.
Sweden has a mixed economy with approximately 90% of all resources and companies being privately owned. When comparing national performance, it ranks highly in areas such as quality of life, health, education and human development. Sweden’s estimated GDP is $552 billion and it relies heavily on foreign trade; with 50% of its exports coming from the engineering sector. Some of Sweden’s top companies include Ikea, Volvo and Sony Ericsson. The country was also rated as having the sixth most competitive economy in the world in 2013.
Tourism contributes a relatively small amount to Sweden’s GDP at roughly 2.9%. However, it does have some ideal tourist destinations. Sweden is home to world heritage sites such as Drottninghol Palace Theatre (opera house) as well as the famous ICEhotel.
Sweden has an established serviced accommodation industry, with the majority of apartments being located in Stockholm (the capital), an ideal location for corporate travellers staying for an extended period of time. They offer an excellent accommodation option as they provide spacious living areas, fully equipped kitchens and a range of other facilities you wouldn't find in even some of the best hotels.
Population: 9.5 million
Currency: Swedish Krona (kr) (SEK)
Dominant religion: Christianity
Time zone: (UTC+1)
Main exports: Machinery, Motor vehicles, Paper Products
Internet domain: .se
International dial code: +46