Canada’s strengths are numerous, and Swedish companies generally consider Canada a comfortable place to do business. Typically, Canada is an end market for Swedish goods and services.
Over 120 Swedish firms are known to be established in Canada. Similar to the business climate in 2021, 85 per cent of Swedish firms perceive the business environment in Canada to be ‘neutral’ ‘good’ or ‘very good”.
Overall, 2023 was a profitable year for Swedish companies in Canada. Despite economic shocks, 67 per cent of Swedish companies reported a profitable year. However, 2023 profitability was lower in comparison to 2022, when 75 per cent of companies were profitable.
In a record-breaking year, more companies than ever note the Swedish brand is important to their business in Canada, with 81 per cent of Swedish firms reporting their “Swedishness” contributes ‘partially’, ‘significantly’ or ‘very significantly’ to their local success.
In 2024, Swedish firms noted that over 75 per cent of Canadians consider environmental aspects of a product prior to purchase. Canadians care about the effects of their product and service consumption – even in difficult economic times, when consumers may struggle to absorb the cost of environmentally friendly goods at a potentially higher price point.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
In a glowing review of the current Swedish-Canadian relationship, the 2024 Business Climate Survey, published now for the fifth year, can report with confidence that Swedish companies in Canada expect long-term gains, see a clear benefit of the Swedish brand in Canada and are willing to invest in building this brand.
Team Sweden in Canada would like to thank our members and partners for their collaboration on the 2024 Business Climate Survey. This year more companies than ever before answered the survey, and we have had the opportunity to get input from an outstanding group of companies in a most thriving year for Swedish-Canadian relations.
