Sweden

Sweden only began to gain wealth after industrializing in the mid-nineteenth century. Before then, it was experiencing relatively modest growth, which led over one million Swedes to travel to North America before the turn of the century.

There are many reasons why Sweden has become rich so fast. This country has always supported free trade as a means of strengthening commercial connections with other European countries. Furthermore, Sweden has a well-educated workforce capable of adjusting to technological developments and modernizing the labor sector.

Moreover, the Swedish government understands how to utilize the country's substantial natural resources best. This strategy has enabled investment in infrastructure and public services, resulting in an excellent quality of life for inhabitants. In addition, Sweden's cautious fiscal measures have boosted growth while keeping costs low. As a result, firms benefit from cheap taxes and strong incentives to engage in R&D.

These elements result in a rich country that remains an appealing destination for enterprises wishing to develop or invest in Europe. The Swedish government is firmly committed to an ethical foundation, reflected in its laws and regulations, creating a safe climate where honest firms can prosper.

GDP: $60,470 (IMF, 2023)