Stockholm - Economy

Economy

The vast majority of Stockholm residents work in the service industry, which accounts for roughly 85% of jobs in Stockholm. The almost total absence of heavy industry (and fossil fuel power plants) makes Stockholm one of the world's cleanest metropolises. The last decade has seen a significant number of jobs created in high technology companies. Large employers include IBM, Ericsson, and Electrolux. A major IT centre is located in Kista, in northern Stockholm.

Stockholm is Sweden's financial centre. Major Swedish banks, such as Nordea, Swedbank, Handelsbanken, and Skandinaviska Enskilda Banken, are headquartered in Stockholm, as are the major insurance companies Skandia, Folksam and Trygg-Hansa. Stockholm is also home to Sweden's foremost stock exchange, the Stockholm Stock Exchange (Stockholmsbörsen). Additionally, about 45% of Swedish companies with more than 200 employees are headquartered in Stockholm. Famous clothes retailer H&M is also headquartered in the city. In recent years, tourism has played an important part in the city's economy. Stockholm County is ranked as the 10th largest visitor destination in Europe, with over 10 million commercial overnight stays per year. Among 44 European cities Stockholm had the 6th highest growth in number of nights spent in the period 2004-2008.

The largest companies by number of employees:

• Ericsson—8,430
• Posten AB (national postal service)—4,710
• Skandinaviska Enskilda Banken (SEB)—4,240
• Swedbank—3,610
• Södersjukhuset (Southern Hospital)—3,610
• MTR Stockholm (Stockholm Subway operator)—3,000
• Nordea—2,820
• Handelsbanken—2,800
• IBM Svenska—2,640
• Capgemini—2,500
• Securitas AB—2,360
• Veolia Transport—2,300
• ISS Facility Services—2,000
• Sveriges Television (public television)—1,880
• Nobina Sverige AB — 1,873 (2012)
• Sodexo—1,580