Goldman Sachs Ranks Denmark no. 1 in the World  

for Commercial Success


Denmark has the highest commercial success potential globally according to a new analysis by the financial heavyweight Goldman Sachs. Companies coming to Denmark can take advantage of sound infrastructure, efficient public authorities and a high degree of innovation, which makes Denmark an ideal business location.

Minister for Trade and Investment, Mrs. Pia Olsen Dyhr says:

- “Framework conditions are crucial to run a professional business, and I am pleased to see that what we offer in Denmark is world class. We owe a lot to our stable and well-organized society with efficient and trustworthy institutions, but more importantly our position in the innovation category shows that we are constantly moving towards new targets through research and development.”  

The study "Mapping the wealth of nations” focuses on a range of success drivers to give an idea of the overall competitiveness in each country. The drivers are covering four categories with four parameters in each:

Patents per capita, R&D as a percentage of GDP, venture capital as a percentage of GDP and the birth rate of companies.

  • Denmark comes in third within innovation, not least thanks to a high amount of patents and level of R&D investments.

Confidence in national institutions, days taken to enforce a contract, the cost of starting a business and the GINI co-efficient that measures income inequality.

  • Just recently, Denmark was rewarded as the easiest place to do business by the World Bank, and this is supported by a 100 percent score in ‘cost of starting business’ in the Goldman Sachs study. Combined with an extremely high degree of confidence in national institutions, this results in a global top ranking in the ‘institutions’ category.

Net crude oil exports/(imports) as a percentage of consumption, per capita food surplus/(deficit), copper + iron ore + aluminum surplus/(deficit) and retirees as a percentage of population.

  • As an agricultural and oil producing country, Denmark is in the top 6 in the resources category.

Transport (airports per capita, railways per sq km), electricity production per capita and internet penetration.

  • Denmark has sound infrastructure and is very well connected both by land and by air on a national and international level, which makes it convenient to run a business also for international investors. To this adds a very high degree of internet connectivity which is also highlighted in the e-Intensity Index published by the Boston Consulting Group last month.

About the study

Mapping the Wealth of Nations is based on 100 charts published by Goldman Sachs during 2012. The overriding theme in these chart are identifying countries’ competitive advantages, and how they link to enduring company strengths. Based on these data, ‘Mapping the world’s wealth’, is a broad depiction of how the drivers of these competitive advantages are distributed across the world. See the individual scores below or contact us if you are interested in reading Goldmans Sachs' newsletter The best of Fortnightly Thoughts where the study is published.

Goldman Sachs - Mapping the Wealth of Nations

Visual by Goldman Sachs

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