Bright future for Norrbotten – despite the recession

Recession? Not in Norrbotten. When large parts of Sweden and Europe next year see the economy take big steps back, things will be much better here. That is the assessment made by the major banks Nordea and Swedbank in new reports. – Everything looks brighter here, says Susanne Spector, chief analyst at Nordea.

Growth is expected to increase, albeit only by 0,3% according to Nordea, but having positive growth at all in 2023 stands out. As expected, it is investments in industry, wind power and infrastructure that are driving up the economies in Västerbotten and Norrbotten. A lower electricity price also contributes, and the weak krona benefits the heavy basic industry in the north.

Regional Councilor Nils-Olov Lindfors (C) hopes that Norrbotten's strong position will contribute to interest in building housing and other things that are required for the rapid social transformation.

– We in Norrbotten are in a situation with an incredibly powerful expansion. In the north there will be continued growth. Construction companies and real estate companies will seek out the north to find their market and have the chance to do good business.

Already low unemployment rate falls

Unemployment in upper Norrland is now falling rapidly from an already low level and is already the lowest in the country. But there is a downside to that medal.

– The labor shortage here is already hitting almost all industries and parts of the labor market hard. I hope that many who are having a tough time in southern Sweden will take the chance to try a job in Norrbotten and create a new and better life for themselves here, says Nils-Olov Lindfors.