The Global Business Climate Survey 2024 celebrates its fifth
anniversary, capturing insights from over 1,700 Swedish companies worldwide. This year’s findings reveal a cautious business sentiment as the global climate is perceived as less positive compared to 2023. Despite challenges, the outlook remains promising, with many companies expecting growth and planning increased investments.
Key Insights:
- Mixed Business Sentiment: Swedish companies are generally less optimistic about 2024, but markets like the UAE, Saudi Arabia, and India are outperforming with the most favourable conditions for business, profitability, and investments.
- Profitability Still Strong: 70% of Swedish companies were profitable in 2023, with the MEA+ region leading. Large industrial firms report the highest profitability rates.
- Positive Revenue Outlook: 65% of companies expect an increase in industry turnover in 2024, with the Americas being the most optimistic region.
- Investment Plans On the Rise: Nearly half of Swedish companies plan to boost investments in the next 12 months, particularly in the Americas, Saudi Arabia, India, and the UAE.
- Key Success Factors: Cost efficiency, sales competence, and partnerships are vital for success. Priorities differ across regions, with sales competence most valued in the Americas and Western Europe.
- “Brand Sweden” Advantage: 82% of companies see “Brand Sweden” as beneficial in international markets.
- Local Market Conditions: Companies are satisfied with the safety and access to suppliers but find corporate taxation, labour regulations, and permits challenging.
- Environmental Considerations: 43% of companies report that customers consider environmental factors in purchasing decisions, with an increased focus on Western Europe and APAC.
- Barriers to Growth: Regulations and customs procedures remain the most common obstacles globally.
Looking Ahead: While geopolitical tensions and policy shifts pose challenges, there is cautious optimism for economic recovery in 2024. Swedish companies remain resilient, prioritising strategic investments and partnerships to navigate the evolving global landscape.
Curious to read more? Click here to go to our Business Climate Survey website and download the Report.
Global Business Climate Survey – Business Sweden (business-sweden.com)
