Ride the Next Wave in the Economy

The King of the North

Calling yourself the King of the North is a bold statement, but given Norway is a world leader in industries such as oil and gas, shipping, telecommunications, high-tech products and fish farming, it’s almost an understatement to say the country is the king of the economy.

Over the years, Norway has also become a world leader in forward-looking industries within clean energy. Combined with the industries mentioned above, Norway is now on top of the world – both economically and geographically.

Take fish for example. In 2016, Norway exported seafood with a total worth of 91,6 billion Norwegian kroners (Source: Norwegian Seafood Council). Did you know that 14 million meals around the world every day include Norwegian salmon? That’s a lot of fish, and the amount of fish export just seems to grow.

RECHARGING THE ENERGY SECTOR 

Since Norway struck oil and gas in the 1970s, the price of oil has dropped dramatically. Combined with the challenges of climate change, Norway has developed high levels of expertise in environmental technology. The small country is constantly working on recharging the energy sector towards a more sustainable future. Both onshore and offshore windfarms, solar energy and electrification of the transport sector, are putting Norway on the map as a world leader in sustainable energy. In 2010, the Norwegian renewable energy sector consisted of about 2000 companies, 50 000 employees and a revenue of 200 billion NOK (Source: Innovasjon Norge), and the country continues to publically fund further development, making Norway a thriving green scene.

CASHING IN ON SHIPPING OUT 

The Norwegian maritime industry is also of great value. In fact, the total value creation is close to 175 billion. In addition to that, the country is a great exporter of shipping equipment, with almost 90 % of the ship equipment made in Norway being exported (Sources: Menon, Innovasjon Norge). Norway is also a frontrunner in sustainable technology within the maritime industry. By building electrical ships, Norway claims its position as a world leader in green shipping and sustainability.

STUDY IN EUROPE’S FASTEST GROWING CAPITAL

To this day, oil and gas are still the country’s most important export commodities, but the world is constantly changing – making innovation within all industries more important than ever.

Being ranked as one of the most business friendly cities in the world, there’s no wonder Oslo has become the fastest growing city in Europe. The Norwegian capital is booming with start-ups and the country continues to develop innovative solutions within industries such as technology, finance, science and energy.

Being King of the North comes with great responsibility. To continue with development and innovation, Norway realises the importance of passing on the knowledge – which is why we encourage you to study in Norway and ride the next wave in the economy.

Stand out. Go North.

 

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