Economic and commercial information
Denmark is a welfare society - often referred to as the Scandinavian welfare model - where are all citizens have equal rights to social security. Within the Danish welfare system, a number of services are available to citizens, free of charge.
This means that for instance the Danish health and educational systems are free. The Danish welfare model is subsidised by the state, and as a result Denmark has one of the highest personal taxation levels in the world - whereas company taxes remain very competitive in the EU-region.
The Danish economy is modern, prosperous and developed being the 31st largest economy in the world measured in GDP and the 6th highest in the world measured in GDP per capita.
Denmark stands out as one of the most free economies in several international indexes and also one of the most competitive in the world according to among others World Economic Forum and IMF.
Income inequality in Denmark is among the world's lowest according to the World Bank. There are few mineral resources available in Denmark, except mature oil and gas wells in the North Sea.
Therefore the country relies on a large part on its well-educated and skilled human resources.
As of 2014 Denmark is among the countries with the highest credit rating amongst the largest credit rating houses.
Large multinational corporations:
Danish companies are known worldwide for their expertise in shipping, pharmaceuticals, sustainable energy solutions, food and agriculture products as well as design and innovation.
Many large multinational corporations are headquartered in Denmark including but not limited to: Maersk Group (shipping), Novo Nordisk (pharmaceuticals), Carlsberg (brewery), Lego Group (toys), Pandora (jewellery), Kopenhagen Fur (fur products and auctioning), Arla (dairy products), Danish Crown (meat products), ISS (facility services), Vestas (wind turbines), Chr. Hansen (food ingredients and enzymes), Danske Bank (banking), DONG Energy (power and natural gas), ECCO (shoes), Lundbeck (pharmaceuticals), FLSmidth (global supplier of equipment and services to the cement and minerals industries), Coloplast (pharmaceuticals), Danfoss (climate and energy), Grundfos (pump manufacturer), GN Store Nord (hearing aids and hands free communication), Genmab (biotechnology), Jyske Bank (banking), William Demant (hearing aids), TDC (telecommunications), Bestseller (clothing) and Bang & Olufsen (hi-fi equipment).