globalEDGE Blog - By Tag: denmark

A recent surge in the popularity of obesity and weight loss drugs in the United States is reshaping Denmark’s pharmaceutical industry.

In current times, convenience has become a huge factor when consumers are scouring the market for goods and services.  People want groceries to be delivered to their doorstep, entertainment at the click of a button, and two-day shipping as often as possible.  Subscriptions are one area of convenience shopping that has gained popularity in the last decade.  Netflix, Disney+, Hulu, and HBO dominate the television market.  More and more often, we are seeing families cancel cable in favor of one or multiple of these television providers, many of which are offered at a lower monthly rate.  These services also present a wide variety of shows and movies, making them more enticing to customers than traditional television.

After years of discussion, Brande’s municipal council approved plans in mid-March to construct what will be Western Europe’s tallest skyscraper. It is scheduled to be completed in 2023 and will stand approximately 1,050 feet high be visible from up to 40 miles away.

Until this day, we deal with controversies on gender pay gap globally. Is the whole matter due to gender discrimination by employers or is it just a fraction of it? Does culture or family traditions play a role? Or does it just come down to the fact that women are expected to raise a family and work less, or even leave their job, at some point? These are all factors that contribute to the gender pay gap problem, however, the way people look at it has created some misconceptions.

The Danish firm Novo Nordisk confirmed on Monday, January 30th its investment of 144.5 million dollars to employ about 100 academics and scientists to perform research and treatments for type 2 diabetes. This investment has helped raise the economic standard of the UK which has been on a decline since the announcement of the Brexit. The research will occur in Oxford, but any new treatments are likely to be developed and produced in Denmark. This will help both countries economically, and boost confidence for further investments. 

As of late, the value of the dollar has appreciated compared to other currencies, and one currency that the effects are evident in is the euro. The fall of the euro has been increased due to the willingness of investors to move their assets out of the Eurozone, and into “safe havens” like the U.S., Denmark, and Switzerland.  The difference between the European and American monetary policies has been a catalyst for investors reallocating their portfolios, looking for bigger gains. A major difference playing a role is that euro will be further pushed down against the dollar, as the European Central Bank is holding interest rates, while the U.S. Fed Reserve is looking to raise the rates.

Since the Nordic economies are relatively small and open, exporting constitutes an important part of the economic activities in the Nordic region. Denmark, Norway, and Sweden have all had greater exports than imports every year since 1995. As the Nordic countries focus on exporting a few different products, each of them contributes to the growth of the regional Nordic economy and they together form a competitive market in the global economy.

In this gE Blog Series, we feature the Nordic countries, which consist of Denmark, Finland, Iceland, Norway, and Sweden. Together the Nordic countries make up a cultural and geographical region in Northern Europe and are integrated economically, historically, and linguistically. In the most recent Doing Business Economy Rankings by the World Bank Group, all five of the Nordic countries were ranked in the top 14 out of 189 countries. The rankings measure the ease of conducting business and reflect how conducive each country’s regulatory environment is to a business operation. In all, ten factors are used to rank the countries. A few of the most notable factors are ease of starting a business, paying taxes, trading across borders, and enforcing contracts.

The Globalization of the fur industry has given Denmark’s agricultural-based economy the boost it was looking for. Fur is used as a luxurious item for clothing, decoration, comfort, etc. Being home to about one-fifth of the world’s supply of minks, it is no surprise that Denmark is the heart of the global fur industry. With all of the growth in the industry, Kopenhagen Fur has been the leader all along.  The company has used Chinese demand to fuel growth and has focused its innovation on the Chinese consumers, as demand in Europe weakens. With the greatest passion for animal-rights, the Danes have stayed out of the way of Animal Rights activists, and the buyers feel a lot more confident and humane about their purchases.

Greenland’s government embraced a major policy change last week that could greatly impact the country itself, as well as its relationship with other major countries. On Thursday, legislators narrowly voted to allow for mining of radioactive substances and iron ore on the Arctic island. In a 15-14 vote, Greenland’s parliament lifted a ban on mining uranium and rare-earth minerals, a decision that could significantly change Greenland’s economy and role in international trade. In another move, parliament gave London Mining PLC a thirty year license to mine for iron ore in hopes that the project will bring jobs and investment to Greenland.

Valentine's Day, contrary to popular belief, is a holiday filled with history and tradition worldwide. There are several different legends that surround Valentine's Day and Saint Valentine himself. Legends vary from culture to culture, and so do the traditions and the ways that the holiday is celebrated.

A Copenhagen hotel is trying to be more environmentally friendly in a very interesting way. If you bike in the hotel enough to generate 10 watts of electricity, you earn a free meal! The goal of this project is to increase environmental awareness in the city. Also, it promotes exercise by combining an aspect of Copenhagen's culture (biking) with the incentive of a delicious meal. A BBC video gives more details on the hotel's creative strategy.

A proposed 12-mile bridge across the Baltic Sea connecting Germany and Denmark, if approved, will be finished by 2018. The bridge will directly connect the two countries and replace the Scandlines ferries which operate on the route now.

There is a plethora of pros and cons to this proposal. The bridge will make travel not only easier between the two countries but also shorter. It will eliminate waiting at the dock and shorten the drive between Copenhagen and Hamburg. Consequently, business between the two countries will also be conducted more efficiently. Furthermore, an increase in tourists crossing the border between the two countries would likely result, and the tourism industry would stand to profit from this new option in travel.

To many nations, having numerous fields of wind turbines seems like a far-off green dream. Denmark, however, has made it into a reality. The Danes are now essentially energy independent, and wind power plays a major role. In 2007, wind power provided nearly 20 percent of the nation’s electricity production and 24 percent of its capacity; proportions nearly double that of the next highest country. The Danish company Vestas has emerged as the top manufacturer in the world of these wind turbines, which are in high demand. Executive Erik Therkelsen says, "If we can make a turbine, it's sold." So what does this mean for the energy industry?