Danes Richer than Swedes despite their country’s economic woes


Sunday, 14 August 2011
Just as the EU has criticized the Danes for keeping large individual debts, calculations show that in fact the Danes are the wealthiest citizens across the already rich Nordic region.

The resolve is based by a study carried out by the Nordic region’s biggest bank, Nordea drawn from figures from Statistics Denmark, IMF and Danish Centrals Bank, which also reflect a positive and a negative interpretation.

The negative interpretation is that the Danes since 2000 has more than doubled their debt, measured in Danish Krona, if measured against the annual income after tax. Yes, indeed their debt today is twice as high as it would be in indebted American families.


The positive interpretation is that the Danish population's wealth measured in Danish Krona has grown almost as fast as their debt so that the net worth has an increase of 80 percent, during the same period.
The Danish consumers by the end of 2010 had a combined net worth of approximately 460 percent of income after tax, while their Swedish neighbour with a booming economy, have a net worth of approximately 450 percent.

Both the oil rich Norwegians and the Finns have to settle for approximately 380 percent. The great Danish capital is not positioned optimally believe chief strategist at Nordea, Henrik Drusebjerg: "The Danes have very large portfolios standing on ordinary current accounts which carry a low interest rate. They should put money into assets that yield returns instead. It will get much more pleasure from the long term.”

Danes are not just rich. They are also relatively fragile placed in a situation now where there is uncertainty about both interest rates, bonds, and especially house prices reports the Danish business daily B�rsen
By Team

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