Stockholm Economy: Stockholm is on the rise

Payrolls, employment, establishment of new businesses and the population continues to increase in the City of Stockholm and Stockholm County overall. Housing construction reached one of the highest levels recorded in the 2000s, so shows Stockholmskonjunkturen’s report of the Stockholm economy for the fourth quarter 2013.

Residential construction increased by almost 150 percent, in both the City and in the county overall, over the same quarter the year before. In Stockholm County, construction starts on 11,448 new apartments were registered over the past year, of which 5,416 were in the City of Stockholm.

Retail sales figures continue to grow in Stockholm, while payrolls are showing good growth in both Stockholm county and city. Total wages and salaries grew by 4.4 per cent in Stockholm County and 3.9 percent in the City of Stockholm over the previous quarter.

“Stockholm’s positive economic growth is a catalyst for its strong appeal. In the labour market, employment levels will continue to increase and number of job openings is increasing while the number of dismissals is halved,” comments Olof Zetterberg, CEO of Stockholm Business Region.

Compared with the same quarter of 2012, the number of employed residents increased by 31,700 in Stockholm County, of which 16,700 were in the City of Stockholm. There was an increase of 2.8 percent in the county and 3.4 percent in the city. Even the number of new business starts
increased compared to last year; 8 percent in the county and 12 percent in the city.

The number of commercial guest nights increased in the fourth quarter of 2013 by 6.3 percent in the county and 4.2 percent in the city, compared to the corresponding quarter of 2012. Foreign visitors accounted for the strongest growth.

Sabina von Greyerz, PR Manager
Stockholm Business Region +46 70-472 80 69, sabina.von.greyerz@stockholm.se