I recently had the opportunity to do some reporting for the American Chamber of Commerce in Denmark for their annual investor’s summit. Based on what was presented and discussed, it is clear that Denmark needs to take action in order to secure its future growth and increase competitiveness. The article, entitled, “Denmark’s Competitiveness Threatened – Reaching Critical Limits,” includes some concerning statistics regarding the number of companies that are considering or planning to move their businesses elsewhere (44 percent) mainly due to the high cost of doing business in Denmark. Not only that, but many companies are coming in and buying Danish-based businesses and then relocating them to another location where it’s more economical to conduct business.
Being such a small market, and a country that has such strong cultural traditions, meaning those that are not so easily changed, the country faces the challenge of either staying with the old and potentially be left behind, or adapting to current trends and evolving. Let’s hope that whatever changes are made to support the necessary growth that they will also serve to sustain the high quality of life and standards that Denmark is known for — while at the same time improving its standards, particularly in the area of education and healthcare, for the benefit of all. Perhaps Denmark should team up with its regional “brothers,” including the rest of Scandinavia?