Christian Wenande
September 26th, 2017

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Can Denmark sustain its position of wealth? (photo: Pixabay)

Denmark’s position as one of the world’s wealthiest nations is under fire, at least according to a new Epinion survey conducted on behalf of the Danish confederation for industry, Dansk Industri (DI).

The survey of 1,019 Danes showed that 25 percent of respondents didn’t think that Denmark would still be one of the wealthiest nations in the world in ten years’ time. Some 62 percent said they believed that Denmark would retain its wealth status, while 13 percent said they didn’t know.

“If I were to point to one thing that has been key to Denmark’s wealth, it’s political decisions and political reform power, so it’s concerning when political parties and the public debate leans towards ending reform,” said Ove Kaj Pedersen, a professor in political science at Copenhagen Business School (CBS).

“The will and ability to see through reforms is essential for Denmark to continue to remain one of the world’s richest countries.”

READ MORE: Richest Danes own almost half of Denmark

Investment in tech
According to the latest figures from the OECD, Denmark currently has the ninth-highest income per capita and a Gross Domestic Product (GDP) per capita of almost 50,000 US dollars (about 310,000 kroner).

Pedersen contends that Denmark’s ability to retain that strong position hinges on massive investment in technology and a continued reform of society.

“Over the past decades, we have invested massively in education and health, but now it is also about investing in new machines and technology,” said Pedersen.

“And here it is critical that the public and private sectors co-operate if Denmark wants to maintain its ability to compete.”

Another expert, Professor Paul Sharp at the University of Southern Denmark, explained that Denmark’s position of wealth was down to two things: being open to the world and having the ability to spread ideas and technology to the benefit of Denmark.