After
Germany, it’s time to visit Denmark. Almost our final destination during our
global journey. We have seen a lot of culture and tourism during the last three
days but we have also learned some remarkable things about the Danish economy. Let’s inform you.
First of
all, Denmark is part of the top ten of
the richest countries in the world. Next to this, it’s a fact that the
economy of Denmark is booming. There is an economic
growth since 2004. Thanks to the reduction of the income tax and the new
possibility to take up a cheaper credit. Also the necessary reforms which were
implemented some years ago were a good idea. For instance a flexible retirement
age, high employment, severe and rigid control of the use of social services, etc.
One of
their principal goals in the past was fighting
the unemployment figure. Fortunately, this target was successfully reached
i.e.in 2001, it was reduced to a mere 5,1 %! The lowest level in more than 25
years. This is worth our congratulations!
The
economy of this country is rather modern
and industrial. They export a lot
to the European countries. They are also specialised in the services sector. Have a look at the
advanced telecommunication infrastructures for instance. Besides they invest in
the transport possibilities because
Denmark is the gateway to the other Nordic countries and the Baltic states.
As said
before, they export a lot to the
European Union. The principal products are potatoes, sugar beets, turnip seed,
livestock products (think of meat, leather, milk and cheese) and corn crop.
They use the last one to produce beer, e.g. Carlsberg. This country is also the
largest exporter of Christmas trees and is the largest fish country of Europe.
Although
they are a great exporter, they have to import
almost all their resources.
Finally,
we have one final convenient tip for you if you would decide upon visiting
Denmark. Be aware that they aren’t a member of the European Monetary Union
(EMU),which means you cannot pay with Euro in Denmark, only with Danish Crown. One
euro stands for 7,46 DKK. Even though the country is fully prepared to enter
the EMU the population puts up resistance.
We look
forward to blog about our final country Norway next week!
Sources:
http://en.wikipedia.org/wiki/Economy_of_Denmark
http://www.heritage.org/index/country/denmark
http://www.indexmundi.com/denmark/economy_profile.html
http://www.denmark.net/denmark-guide/invest/economy-denmark.html
I never thought that Denmark was part of the top ten of the richest countries in the world. The only drawback I found was in Denmark was the Danish Krone. Every time we went somewhere we had to calculate how much something cost in euros.
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