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Norway presentation

Economics Norway Project
by

Alla Golovneva

on 23 November 2013

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Transcript of Norway presentation

Norway
We are glad to present to you one of the richest country in the world.
Why?
LET'S SEE TOGETHER!
Home
Map of Oslo
Credit depth of information index 10%
Norway imports machinery and equipment, chemicals, metals, food (produce, meats, and grains).

They import these goods from Sweden, Germany, France, United Kingdom, Netherlands, Denmark, United States, and China.
Economic Relationships
What They Import
What They Export
Norway exports goods such gas and petroleum products, minerals, metals, timber, ships, fish and fish oils.

They export these products to the UK, Netherlands, France, Sweden, United States and Germany.
North Sea
The Norwegian economy is a mixed economy, combining elements of both command and market systems. There is a Prime Minster and a Monarchy in place. Yet they are a wealthy and industrial country.Their citizens enjoy very similar rights and freedoms as us. They have a very high standard of living and according to The United Nations HDI Norway has some of the best education, one of the best life expectancies and a very large GDP per capita which is $53,400 in USA dollar.
Primary industries include mining of raw minerals, drilling off shore and on shore for gas, timber, large fishing industries (which feed inland European countries), and small bits of agriculture including wheat, barely and oats.

Secondary industries in Norway include food processing fish (to ship to in land European countries), timber for ship building and paper products, raw minerals put into food and products.

Tertiary industries in Norway. There are many domestic services not very well known to other countries, such as government workers, local fish shops, hair dressers and many retail stores selling local products.

Quaternary services include tourism guide to fjords, guides to hiking the mountains, websites for where best skiing locations and weather as well.
Industries in Norway
There are many settlement patterns found in Norway. In the south surrounding the Oslo fjord and city the settlement pattern is clustered. In eastern communities that are found along railways, on fjords, roads, or on the Atlantic Ocean are generally in a linear pattern. Far north people live in a scattered settlement patterns and occasional linear communities.
Settlement Patterns in Norway
This is where Norway is!
And up here too!
A fjord found in Eastern Norway
Oslo is found here,
North Sea
Above is the Prime Minister of Norway Jens Stoltenberg
Pictured above is King Herald and Queen Sonja of Norway.
Caged fishing operation
Agriculture
Offshore drilling
Paper mill
Norwegian Fish Market
Eastern fishing community in a linear settlement pattern.
A lone northern home in a scattered settlement pattern.
Analysis
National Anthem of Norway
Culture

Norwegian language has two forms, Bokmal (Book Norwegian) and Nynorsk (New Norwegian), although Bokmal is increasingly more common in the south yet both are spoken equally around the country. Other languages that are spoke in Norway include Swedish, Finish, and Sami. Everyone would have to learn to read both Bokmal and Nynorsk. My family would have to learn Sami (the natives language) as well as both forms of Norwegian.

In Norway the main religion is The Church of Norway (Evangelical Lutheran) but there is a small percentage of Catholics and Muslims. My family and I could still attend church every Sunday but would have to understand Latin and Norwegian would be tough and a long process.

My family and I would have to trade up old traditions such as English Pudding on Christmas, various pastas on Christmas Eve, or turkey on Easter Sunday. In Norway most people eat traditional foods like Fiskepudding, which is a pudding of whale steaks, salmon and various other seafood's mixed all together with eggs.

Housing in Norway is very European meaning that houses are much smaller and compact and often people live near their workplace and downtown functions. My family would grow accustomed to the smaller spaces but I think my mum would bring her love of Westernized appliances with her. Including large oven, fridge, and dishwasher. It would be extremely hard for her to switch over.
Nynorsk
Bokmal
Church of Norway
Much more compact kitchens. This kitchen is considered large in Norwegian standards.
The current state of Norway is great and you can live comfortably, knowing that your whole health care is being covered and that you can never be extremely impoverished. In the next ten years Norway will be having issues with the price of gas and oil. Since there are no oil refinery's in Norway the price of petroleum and gas will keep going up by significant amounts of money. Norway will have to create a better system for natural resources because they are truly harvesting off the land, by mining, offshore drilling, fishing and forestry. The country will have to come up with some back up plan in case they use up these resources and find a more eco-friendly way to do it.
Health Care
In Norway citizens pay very high taxes for the government to cover there medical care and also medication fees.
Reverse Income Taxation
Reverse income tax is when a person in Norway makes under the average income then the government will reimburse the citizen by sending them a quarterly cheque. This ensures the citizen is above the poverty line and they are able to keep a job, get a higher education, and keep their families stable.
The standard of life in Norway is very high. They are ranked first in the United Nations Human Development Index and according to a CNN report the happiest country in the world. This might be hard to believe due to the fact they live in complete darkness up north all winter and it is rather cold all year but they are actually happy. There is absolutely no one under the poverty line due to reverse income tax and their children are receiving some of the best education in the world. Norwegians firmly believe in equality between all races and genders.
Quality of Life
GDP Per Capita
In 2011 the GDP per capita was $53,400 in US dollars
Ranked eighth in world
Wealth
The wealth of Norway can be described in their GDP of which is $265.5 billion (US dollars) which is ranked 48 in the world. The standard of living can describe wealth and seeing as Norway is ranked first in HDI and are they happiest country in the world makes Norway seem very wealthy. In Norway there is absolutely no one under the poverty line and everyone can contribute to the country.
Would I chose Norway to move to?
I would definitely choose to move to Norway if a catastrophic event happened. It would be very difficult in the beginning but it is a welcoming culture, a happy place to live, and has a very fair economic system.
Education
100% of population over 15 can read and write.
The average Norwegian spends 17 years in school.
The Government spends 6.8% of GDP each year on education.
Norwegian Folk Dance and Song
Sami are the indigenous people (aboriginals) of the Northern parts of Norway, Sweden, Finland and Northern Russia.
Who are the Sami?
Samiland
A traditional Norwegian-Sami house.
Traditional Sami Clothing.
The Sami are traditionally reindeer herders.
Labor Force & Human Development
# 7 Human Development INDEX 7%
Government spending as percentage of GDP
Government spending as percentage of the GDP 15%
Credit depth of information index 10%

Big Mac Index (6%)
- The average in the Euro Area for the purchasing of a big Mac is 4.7 USD and Norway stays ahead with 6.87 USD, more than 2 Euros difference.
-In terms of economic wealth, Big Mac cost is very high compared to other countries and the average EU zone
-But we need to keep in mind that the money they pay in restaurants, hotels, and Mcdonald´s will allow real people to have a real middle-class life, and this is a
very positive
indicator.
Unemployment Rate 10%
This index give a real situation of the country due if as high unemployment index more internal problems the country has.

In northern countries exists the mentality of hard working, due to the weather is strong than in intertropical countries, in Norway the people needs to be moving, that's way people are more working orienteted.

Norway is ranked in the year 2011, in the place number
1
like the country with the lowest unemployment rate index in the world, this give the sensation of high purchasing power that is very attractive for investors.

How did we do the research?

TOMAS
LUCIA
ALLA
Defined the important points which would heat our investing desire;
Shared opinions and understood the
key ideas
which showed the investing magnetism;
Proved the ideas:
- by an online-research and found out
which points have the most attractive countries for
investments to seem the best ;
The factors affecting the attractiveness of the countries for investments:
The huge amount of natural resources
Strong economy with a government support
Stable political situation
Banking safety
The high level of the informatization within the country
Straight business dealing
Low level of the burocracy
Consuming mentality
The powerful labor force
AND AFTER
we started to look for the indicators
which were reflecting our ideas

We've looked for
a little bit here...

A little bit here...
And even here...
brrrrr....

The village Oymyakon in Russia is the coldest place in the world.
And finally we gathered all the indicators here, in Norway
Indicator Weighting
Land use and land cover 20%
Government spending as percentage of GDP 18%
The Political Instability Index 12%
The rule of law: Freedom from Corruption and property rights 11%
Banking Safety: net interest income, commission income and gain on securities and currency 11 %


Human Development Index 7%
Start up procedures 6%
Big Mac Index 6%

Communication facilities:
Internet users and mobile cellular subscriptions 9%
BUT
WHAT IS NORWAY?
According to the Human Development Index,
Among the all contries in the world Norway has the best standards of living, education (professional labor force) and life expectancy combined.
In the year 2010 only 13 countries of 186 that were evaluated have a Very High Human development index over 0.905. Norway has 0.918.
Let's check...



Have you already felt cold from the beauty of pure nature?
Now it's time to talk about money!
#9 Big Mac Index 6%


The Big Mac Index is an informal way of measuring the purchasing power parity (PPP). As Big Mac is consisted of the most consuming products,
it shows
- how strong the purchusing power - if people may afford the products from the market basket.
- the difference between the prices to the same products.

NORWAY HAS THE HIGHEST PRICE IN EUROPE:
6,87 USD

#8 Start-up procedures to register a business 6%
The less procedures the goverment requires, the easier to lauch a start-up.
Just
5 are the number of procedures that needs to be done in order of getting all the premises done for....
just
7 days
Just
1 procedure and 3 days to registrate a property.
Just
10 procedures that needs to be completed for building a warehouse.
Just
66 days to get electricity into your new business.


Start-up procedures to register a business (number) comparison between countries- source: http://data.worldbank.org


NORWAY HAS SEVERAL DEVELOPED INDUSTRIES,
It's proved by being at the top of different ranking such as:

· The second biggest exporter of fish and seafood

· The third biggest exporter of natural gas;

· The fourth biggest maritime nation;

· The fifth biggest oil exporter;

· The sixth biggest hydropower producer.

#6 Communication facilities: Internet users and mobile cellular subscriptions 9%
The more informatized society is, the more ways of managing and developing the business the investors have.
Recommendations

•Information Communication and Technology Industry – The Norwegian ICT industry is composed of a wide range of high-tech companies that create new telecommunications, hardware, software, and industrial electronics products, not to mention high-end consultancy services.
Norway is consuming the Internet and the cell by one of the most amount of people. That means:
- less loss of money because of bad quility communications;
- more options of doing business.
Our recommendations
As one of the richest countries in per capita terms and according to the United Nation’s Human Development Index,
Norway has the best standard of living, education and life expectancy combined.
Norway is ranked as the most stable political contry with a highly respected judicial system.
Recommendations
#5 Banking safety 11%
It constists of the net interest income and losses on loans.
According to the financing analises we can find out how much confidence banks can allow to their clients.
Norway has a positive net interest income, increased commission income and lower losses on loans counteracted a lower net gain on securities and currency.

Prudent financial regulations in Norway ensure a robust financial and banking system.
#4 Property Rights and Freedom from Corruption 11 %
show us
the real attention of the government to the protection of property, the freedom of corruption and the perception of the people who live in this country about the efficiency of the laws.
So we conclude that
Stable and Transparent Political Framework ensures a predictable and transparent business environment with minimal corruption, respected judicial system and a well-functioning market.
# 3 Political Instability Index 12%


The more instable the political situation is in the country, the less interesting and the more dangerous it is.

Norway is located very far from the Middle East and The Nothern African countries which are the space of instability right now. It proves that the political changings don’t play any role in this country. For business the political stability of society has the great importance. This determines the level of investment and other kinds of resources in a particular region.
IMPORTANT TO REMEMBER !!!
According to the survey people don't put money to the countries where:
political environment is bad.
people don't respect judicial system.
World Bank’s Ease of Doing Business Ranking put
NORWAY to
top ten ranking!!


"The fair arbitration is a pledge guarantee business"
The higher the percentage of the Government spending the better for the country.
Norway provides t
he high-quality life for its people.
That’s why the taxes are high.
It makes potential investors
feel scared.
But you pay for the stability and support.
#2 Goverment spending 18%

Much of Norway's economy depends on the use of its natural resource base.
For this reason, Norway is dependent on governmental regulation in order to balance economical- and environmental interests.
The country is rich in natural resources, including oil and gas, hydropower, fish, forests and some minerals.
1. Land use and land cover 20%
Let's see the indicator with shows us the wide area of investing...
INVEST
TO THE NATURE and INDUSTRY









SOON NORWAY WILL BRING YOU MONEY BACK!
As shown in the 2013, Norway has a percentage of
21.95%
of the total
GDP
in the total of government spending.

Social protection
is by far the function where the country puts more attention on.With an amount of 505.787 NOK millions.
Health
will come right after with the amount of 210.436 NOK millions.

And
education
with an amount of 157.628 NOK millions will come in third place.
Other functions where Government spends their funds are :

Economic affairs, general public services, defence, public and order service, environmental protection, housing , community amenities and religion
.
And then we've GOT the
- by a survey amoung our friends and relatives
The use of the latest technologies and a focus on quality allows Norway to maintain its competitive edge.
All in all Norway presents a low-risk and long-term investment opportunity.
Norwegian monetary policy successfully maintains a stable inflation and exchange rate.
The list of the most successful and the richest men in Norway

1. John Friedriksen
The owner of the largest oil tanker fleet in the world.

2. Stein Erik Hagen
Hagen made his fortune offering cheaper groceries to Norwegians used to paying high prices for food and household supplies.

3. Olav Thon
Owns 360 properties in Norway and 18 abroad, including shopping malls, office buildings, retail stores and hotels.
4. Kjell Inge Rokke
Rokke started out as a fisherman but soon became one of Norway’s foremost industrialist.

5. Arne Wilhelmsen
Success in shipping industry. Arne Wilhelmsen has long had major stakes in Royal Caribbean Cruise Lines, tankers and other shipping and offshore ventures.

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