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HISTORY CULTURE
DANISH ROYAL FAMILY IS THE OLDEST UNINTERRUPTED
EUROPEAN MONARCHY – DATES BACK TO 10TH CENTURY
1016 to 1042 – A PERIOD WHEN DENMARK RULED ENGLAND
1479 – THE COPENHAGEN UNIVERSITY WAS FOUNDED
1769 - THIS YEAR THE FIRST DANISH CENSUS WAS TAKEN. THE
NEXT CENSUSES WERE TAKEN IN 1787 AND 1801 AND FROM 1834
ONWARDS EVERY 5-10 YEAR
1914 to 1918 –DANISH NEUTRALITY DURING WORLD WAR I
1973 – DENMARK BECAME A MEMBER OF EUROPEAN ECONOMIC
COMMUNITY
1992 – UNDER EDINBURGH AGREEMENT DENMARK
NEGOTIATED AN OPT OUT FROM USING THE EURO
OFFICIAL LANGUAGE & CURRENCY: DANISH & DANISH KRONE
CAPITAL: COPENHAGEN
POPULATION: 5,627,235
ETHNIC MAKE-UP: SCANDINAVIAN, INUIT, FAROESE, GERMAN, TURKISH,
IRANIAN, SOMALI
RELIGION: EVANGELICAL LUTHERAN 95%, OTHER PROTESTANT AND
ROMAN CATHOLIC 3%, MUSLIM 2%
DENMARK IS THE HAPPIEST COUNTRY IN THE WORLD
DENMARK IS KNOWN FOR ITS FOCUS ON SUSTAINABILITY
DENMARK HAS THE WORLD’S 3RD BEST SYSTEM IN HIGHER EDUCATION
GOVERNMENT & POLITICS
 DENMARK IS A CONSTITUTIONAL MONARCHY,
WITH THE QUEEN (Margrethe II) FULFILLING
THE ROLE OF HEAD OF STATE, AND THE
GOVERNMENT FORMED OUT OF THE
PARLIAMENT.
 THE DANISH PARLIAMENT, THE FOLKETING, IS
COMPOSED OF 179 MEMBERS OF THE
PARLIAMENT (MPS). 175 MPS ARE ELECTED IN
DENMARK, 2 IN GREENLAND AND 2 IN THE
FAROE ISLANDS. THE PARLIAMENT PASSES
LAWS AND EXERTS CONTROL OVER THE
GOVERNMENT.
 ELECTIONS ARE HELD EVERY 4 YEARS
 SINCE 1909, NO SINGLE PARTY HAS HAD THE
MAJORITY IN PARLIAMENT
 LARS LØKKE RASMUSSEN IS THE CURRENT
PRIME MINISTER
DENMARK IN THE EU
 AN ACTIVE MEMBER SINCE 1973
 MEMBER OF THE SCHENGEN AREA
 THERE ARE 13 MEMBERS OF THE EUROPEAN
PARLIAMENT FROM DENMARK.
 DENMARK HAS 9 REPRESENTATIVE IN THE
EUROPEAN ECONOMIC & SOCIAL COMMITTEE
 MARGRETHE VESTAGER: DENMARK’S
REPRESENTATIVE TO THE EUROPEAN
COMMISION (PROMOTES THE GENERAL
INTEREST OF THE EU BY PROPOSING AND
ENFORCING LEGISLATION AS WELL AS BY
IMPLEMENTING POLICIES AND THE EU
BUDGET)
DANISH ECONOMY
 Denmark has a high-income economy that ranks 18th in the world in
terms of GDP
 GDP(Nominal) : $330.8 billion (2014)
 GDP(PPP) :$296.9 billion (2014)
DANISH ECONOMY
 Unemployment Rate in Denmark remained unchanged at 4.70 percent
 Labour Costs in Denmark increased to 105.83 Index Points in the first quarter of 2015 from 105.70 Index Points
DENMARK AT A GLANCE
Capital Copenhagen
Geographical Size 42,921 km2
Population 5,627,235 (2014),
1.1% of EU
Official Language Danish
Political System Parliamentary
constitutional
monarchy
EU member state
since
1st Jan 1973
Seats in European
parliament
13
Schengen area
member
Yes, since 25
March 2001
Presidency of the
council
Revolving
presidency of EU
7times since 1973
GDP $330.8 billion (2014) nominal
GDP growth 0.3% (Q2 2014)
GDP per capita $46,255 (2014) nominal
GDP by sector Agriculture (4.5%), Industry (19.1%), Service (76.4%)
Inflation 0.5% (2014)
ECOMOMY STATISTICS
DENMARK KRONA (DKK) v/s EURO (€)
Denmark negotiated its rights out of Maastricht Treaty of 1992. Exchange rate tied to within
2.25% of Euro.
Denmark Krona Benefits -
• Independent monetary policy
• No dependency on ECB for fiscal
and labour market reforms in crisis
Euro Benefits -
• Decision making in ESCB
• ESCB accountable to defend
exchange rate during economy crisis
• Decreased transaction costs, better
transparency of foreign markets and
decreased interest rates
If Denmark joined the Eurozone, it would then be obliged to help fund EFSF in terms of government backed
loans to improve market confidence in EU countries under debt crisis.
ECONOMIC REFORMS AND POLICIES
1. PUBLIC INVESTMENT – Extraordinarily high investment by govt (2.8 – 2.9% of GDP in 2014), supporting growth and employment
2. COMPETITION - Denmark is the 13th most competitive economy in the world, and 8th in Europe, according to the World
Economic Forum in its Global Competitiveness Report 2014–2015.
3. INCOME - According to the International Monetary Fund, Denmark has the world's highest minimum wage. Equitable
distribution of Income. (As Denmark has no minimum wage legislation, the high wage floor has been attributed to the power of
trade unions)
4. Denmark's fiscal position remains among the strongest in the EU with public debt at about 46% of GDP in 2013.
5. FLEXICURITY - Denmark has the most free labour market in Europe, according to the World Bank. Employers can hire and fire
whenever they want (flexibility), and between jobs, unemployment compensation is very high (security)
6. No restrictions apply regarding overtime work, which
allows companies to operate 24 hours a day, 365 days
a year.
7. Denmark has a competitive company tax rate of
24.5% and a special time-limited tax regime for
expatriates.
8. The Danish taxation system is broad based, with a 25%
VAT, in addition to excise taxes, income taxes and other
fees. The overall level of taxation (sum of all taxes,
as a percentage of GDP) is estimated to be 46% in 2011.
EASE OF DOING BUSINES
What it takes to start a business in Denmark?
 According to data collected by Doing Business, starting a business there requires
4.0 procedures, takes 5.5 days, costs 0.2% of income per capita and requires
paid-in minimum capital of 14.5% of income per capita
 According to the World Bank’s Doing Business 2015 report, Denmark is the easiest
country in Europe to do business(For the 4th consecutive year) – and has also
moved from 5th to 4th in the world, behind only Singapore, New Zealand and
Hong Kong
Danish labour market:
• Very flexible labour market
• Competitive overall labour cost level
• Highly motivated and productive workforce
Taxation
• Corporate tax rate of 23.5% which will be reduced to 22% by 2016.
• This is below the current EU average
Funding and financial incentives
• Denmark has comprehensive programmes for funding and financial incentives mainly focused on research
& development (R&D) activities as well as attractive tax rules for expatriates and in relation to R&D.
DANISH REFOMS SUPPORTING BUSINESS
 Largest industry and innovation sector.
 3% of Denmark’s GDP and12% of overall Danish exports.
 3 times the produce compared to the population
AGRICULTURAL SECTOR
 Contribution 54482 DKK Million
 PMI to be 53.94 by the end of this
quarter.
MANUFACTURING SECTOR
Denmark expects to be self-sufficient with oil until 2050.
 Denmark is a leader among OECD member countries in terms of its
well-designed policies for renewable energy.
 2 Phase strategy
ENERGY SECTOR
Denmark

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Denmark

  • 1.
  • 2. HISTORY CULTURE DANISH ROYAL FAMILY IS THE OLDEST UNINTERRUPTED EUROPEAN MONARCHY – DATES BACK TO 10TH CENTURY 1016 to 1042 – A PERIOD WHEN DENMARK RULED ENGLAND 1479 – THE COPENHAGEN UNIVERSITY WAS FOUNDED 1769 - THIS YEAR THE FIRST DANISH CENSUS WAS TAKEN. THE NEXT CENSUSES WERE TAKEN IN 1787 AND 1801 AND FROM 1834 ONWARDS EVERY 5-10 YEAR 1914 to 1918 –DANISH NEUTRALITY DURING WORLD WAR I 1973 – DENMARK BECAME A MEMBER OF EUROPEAN ECONOMIC COMMUNITY 1992 – UNDER EDINBURGH AGREEMENT DENMARK NEGOTIATED AN OPT OUT FROM USING THE EURO OFFICIAL LANGUAGE & CURRENCY: DANISH & DANISH KRONE CAPITAL: COPENHAGEN POPULATION: 5,627,235 ETHNIC MAKE-UP: SCANDINAVIAN, INUIT, FAROESE, GERMAN, TURKISH, IRANIAN, SOMALI RELIGION: EVANGELICAL LUTHERAN 95%, OTHER PROTESTANT AND ROMAN CATHOLIC 3%, MUSLIM 2% DENMARK IS THE HAPPIEST COUNTRY IN THE WORLD DENMARK IS KNOWN FOR ITS FOCUS ON SUSTAINABILITY DENMARK HAS THE WORLD’S 3RD BEST SYSTEM IN HIGHER EDUCATION
  • 3. GOVERNMENT & POLITICS  DENMARK IS A CONSTITUTIONAL MONARCHY, WITH THE QUEEN (Margrethe II) FULFILLING THE ROLE OF HEAD OF STATE, AND THE GOVERNMENT FORMED OUT OF THE PARLIAMENT.  THE DANISH PARLIAMENT, THE FOLKETING, IS COMPOSED OF 179 MEMBERS OF THE PARLIAMENT (MPS). 175 MPS ARE ELECTED IN DENMARK, 2 IN GREENLAND AND 2 IN THE FAROE ISLANDS. THE PARLIAMENT PASSES LAWS AND EXERTS CONTROL OVER THE GOVERNMENT.  ELECTIONS ARE HELD EVERY 4 YEARS  SINCE 1909, NO SINGLE PARTY HAS HAD THE MAJORITY IN PARLIAMENT  LARS LØKKE RASMUSSEN IS THE CURRENT PRIME MINISTER DENMARK IN THE EU  AN ACTIVE MEMBER SINCE 1973  MEMBER OF THE SCHENGEN AREA  THERE ARE 13 MEMBERS OF THE EUROPEAN PARLIAMENT FROM DENMARK.  DENMARK HAS 9 REPRESENTATIVE IN THE EUROPEAN ECONOMIC & SOCIAL COMMITTEE  MARGRETHE VESTAGER: DENMARK’S REPRESENTATIVE TO THE EUROPEAN COMMISION (PROMOTES THE GENERAL INTEREST OF THE EU BY PROPOSING AND ENFORCING LEGISLATION AS WELL AS BY IMPLEMENTING POLICIES AND THE EU BUDGET)
  • 4. DANISH ECONOMY  Denmark has a high-income economy that ranks 18th in the world in terms of GDP  GDP(Nominal) : $330.8 billion (2014)  GDP(PPP) :$296.9 billion (2014)
  • 5. DANISH ECONOMY  Unemployment Rate in Denmark remained unchanged at 4.70 percent  Labour Costs in Denmark increased to 105.83 Index Points in the first quarter of 2015 from 105.70 Index Points
  • 6. DENMARK AT A GLANCE Capital Copenhagen Geographical Size 42,921 km2 Population 5,627,235 (2014), 1.1% of EU Official Language Danish Political System Parliamentary constitutional monarchy EU member state since 1st Jan 1973 Seats in European parliament 13 Schengen area member Yes, since 25 March 2001 Presidency of the council Revolving presidency of EU 7times since 1973 GDP $330.8 billion (2014) nominal GDP growth 0.3% (Q2 2014) GDP per capita $46,255 (2014) nominal GDP by sector Agriculture (4.5%), Industry (19.1%), Service (76.4%) Inflation 0.5% (2014) ECOMOMY STATISTICS DENMARK KRONA (DKK) v/s EURO (€) Denmark negotiated its rights out of Maastricht Treaty of 1992. Exchange rate tied to within 2.25% of Euro. Denmark Krona Benefits - • Independent monetary policy • No dependency on ECB for fiscal and labour market reforms in crisis Euro Benefits - • Decision making in ESCB • ESCB accountable to defend exchange rate during economy crisis • Decreased transaction costs, better transparency of foreign markets and decreased interest rates If Denmark joined the Eurozone, it would then be obliged to help fund EFSF in terms of government backed loans to improve market confidence in EU countries under debt crisis.
  • 7. ECONOMIC REFORMS AND POLICIES 1. PUBLIC INVESTMENT – Extraordinarily high investment by govt (2.8 – 2.9% of GDP in 2014), supporting growth and employment 2. COMPETITION - Denmark is the 13th most competitive economy in the world, and 8th in Europe, according to the World Economic Forum in its Global Competitiveness Report 2014–2015. 3. INCOME - According to the International Monetary Fund, Denmark has the world's highest minimum wage. Equitable distribution of Income. (As Denmark has no minimum wage legislation, the high wage floor has been attributed to the power of trade unions) 4. Denmark's fiscal position remains among the strongest in the EU with public debt at about 46% of GDP in 2013. 5. FLEXICURITY - Denmark has the most free labour market in Europe, according to the World Bank. Employers can hire and fire whenever they want (flexibility), and between jobs, unemployment compensation is very high (security) 6. No restrictions apply regarding overtime work, which allows companies to operate 24 hours a day, 365 days a year. 7. Denmark has a competitive company tax rate of 24.5% and a special time-limited tax regime for expatriates. 8. The Danish taxation system is broad based, with a 25% VAT, in addition to excise taxes, income taxes and other fees. The overall level of taxation (sum of all taxes, as a percentage of GDP) is estimated to be 46% in 2011.
  • 8. EASE OF DOING BUSINES What it takes to start a business in Denmark?  According to data collected by Doing Business, starting a business there requires 4.0 procedures, takes 5.5 days, costs 0.2% of income per capita and requires paid-in minimum capital of 14.5% of income per capita  According to the World Bank’s Doing Business 2015 report, Denmark is the easiest country in Europe to do business(For the 4th consecutive year) – and has also moved from 5th to 4th in the world, behind only Singapore, New Zealand and Hong Kong
  • 9. Danish labour market: • Very flexible labour market • Competitive overall labour cost level • Highly motivated and productive workforce Taxation • Corporate tax rate of 23.5% which will be reduced to 22% by 2016. • This is below the current EU average Funding and financial incentives • Denmark has comprehensive programmes for funding and financial incentives mainly focused on research & development (R&D) activities as well as attractive tax rules for expatriates and in relation to R&D. DANISH REFOMS SUPPORTING BUSINESS
  • 10.  Largest industry and innovation sector.  3% of Denmark’s GDP and12% of overall Danish exports.  3 times the produce compared to the population AGRICULTURAL SECTOR
  • 11.  Contribution 54482 DKK Million  PMI to be 53.94 by the end of this quarter. MANUFACTURING SECTOR
  • 12. Denmark expects to be self-sufficient with oil until 2050.  Denmark is a leader among OECD member countries in terms of its well-designed policies for renewable energy.  2 Phase strategy ENERGY SECTOR