In recent years, the Nordic countries have consistently ranked amongst the top 15 countries for global competitiveness. The World Economic Forum’s Global Competitiveness Report 2008–2009 ranks four of the Nordic countries, Denmark, Finland, Norway and Sweden, amongst the six most competitive economies in the world. Economists attribute Nordic success to the countries' economic model and to their focus on research and development, information and communications technology and higher education.

The strength of Nordic companies can be attributed to these factors:

STRONG INNOVATIVE CULTURE
Nordic countries with their small open economies have always had to look abroad for success. Companies here are well aware that, because domestic markets are too small, success lies outside of their own respective countries. This has led to natural selection where only the fittest survive because companies must be productive, efficient, flexible and able to adapt to changing global market conditions.

SUPPORTIVE ENVIRONMENT
Nordic political and regulatory frame-works, including high taxation, have been conducive to spurring growth and innovation by supporting infrastructures, processes, skills and usage of informa­tion technology. Initiatives to create a borderless Nordic business sector also help stimulate innovation and increased competitiveness.

KNOWLEDGE-SHARING
Regional information networks support close cooperation among industry, universities, public institutions and other important actors support working partnerships in higher education, industry and innovation. The Nordic region has been consistently ranked as the leader in the World Economic Forum and insead’s Network Readiness Index, generally accepted as the most authorita­tive indicator of progress.