Monday, November 10, 2008

Scandinavia - An Economy Apart

We have a new Blog about Scandinavia and our insider's view with our custom travel and tours. Please continue to follow our blog posting on our new blog Insider's Scandinavia - Great Places to Go and Things to do!

Given all of the news about the economy these days, we thought it might be useful to give you a window into the basics of Scandinavian economy. All the countries of northern Europe – namely Norway, Denmark, Sweden, Finland, and Iceland – typically enjoy free health care and education in addition to a high standard of living. Living in a socialist democracy allows them these benefits, but at the cost of a heavy income tax on Scandinavian paychecks. Income tax can range anywhere from 40 – 60 percent.


Business is also strong in Scandinavia. Low corporate taxes and minimal violence make Scandinavia a popular place to relocate and invest in. Job creation is based on a system called “flexicurity” which includes ample unemployment benefits, but also insists that workers take government sponsored training for new available jobs.


Although the sustainability of a socialist welfare state is contested by some economists, over time, the Scandinavian countries have done well to support themselves. Even in the current economic decline, Scandinavian countries remain strong and relatively rich due to their valuable natural resources and of course, their spectacular tourism industry.


Come enjoy the beauty of Scandinavia, still as timeless and pristine as ever, with a Nordic Company holiday today. It’s never too early to start planning your much-needed summer getaway or putting together a travel package sure to delight your grandparents – like a pilgrimage to their homeland. The Nordic Company is well-versed in special spots of Scandinavia and we are ready and waiting to share our knowledge with you!