Stockholm headed toward recession. Treatment of expats not helping.

Stockholm headed toward recession. Treatment of expats not helping.

The financial situation in the City of Stockholm is the worst in six years, and the economy could be headed for a recession, according to the Chamber of Commerce’s latest Stockholm Index. Earlier in the week, Mundus News quoted the Chamber’s CEO, Andreas Hatzigeorgiou, saying “We have several bottlenecks in Stockholm: the housing shortage, the infrastructure shortage and the lack of skills that hold companies hamper back. The computer industry has a serious lack of competence. The local shortage is a relatively new problem, the bottlenecks are increasing.” Further reading on the Swedish economy ➢

In the past, Mundus has observed that Sweden’s understanding of foreigners needs could be better in our 2018 State of Expat Life in Sweden Report. This week a report by Diversify Foundation found that more than two-thirds of nearly 600 hundred respondents said that they would not recommend other foreign citizens to work in Sweden. What could have been nipped in the bud a few years ago is now starting to affect Sweden’s reputation. Now Forbes has picked up the story, calling it a “serious problem”, heightening the pressure on Sweden to react. Hatzigeorgiou commented again, saying “My conclusion is that it is worrying and that it damages Sweden’s attractiveness and competitiveness. We need these global talents more than they need us.“

For further background on Sweden’s labour law and deportations of talents, download our article “Lex Tayyab” from the Mundus Store.

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