Stockholm
Stockholm (Swedish: [ˈstɔ̂kː(h)ɔlm] ⓘ)[10] is the capital and most populous city of Sweden as well as the largest urban area in the Nordic countries. Approximately 1 million people live in the municipality,[11] with 1.6 million in the urban area, and 2.4 million in the metropolitan area.[11] The city stretches across fourteen islands where Lake Mälaren flows into the Baltic Sea. Outside the city to the east, and along the coast, is the island chain of the Stockholm archipelago. The area has been settled since the Stone Age, in the 6th millennium BC, and was founded as a city in 1252 by Swedish statesman Birger Jarl. The city serves as the county seat of Stockholm County.
For other uses, see Stockholm (disambiguation).
Stockholm
Södermanland and Uppland
1252
13th century
188 km2 (73 sq mi)
381.63 km2 (147.35 sq mi)
6,519 km2 (2,517 sq mi)
28 m (92 ft)
984,748
5,200/km2 (14,000/sq mi)
1,617,407
4,200/km2 (11,000/sq mi)
2,415,139
370/km2 (960/sq mi)
- Stockholmare
- Stockholmer
- Stockholmite
€153.963 billion (2020)
+46-8
Stockholm is the cultural, media, political, and economic centre of Sweden. The Stockholm region alone accounts for over a third of the country's GDP,[12] and is among the top 10 regions in Europe by GDP per capita.[13] Considered a global city,[14] it is the largest in Scandinavia and the main centre for corporate headquarters in the Nordic region.[15] The city is home to some of Europe's top ranking universities, such as the Karolinska Institute, Stockholm School of Economics, KTH Royal Institute of Technology and Stockholm University.[16] It hosts the annual Nobel Prize ceremonies and banquet at the Stockholm Concert Hall and Stockholm City Hall. One of the city's most prized museums, the Vasa Museum, is the most visited museum in Scandinavia.[17] The Stockholm metro, opened in 1950, is well known for the decor of its stations; it has been called the longest art gallery in the world.[18] The city was the host of the 1912 Summer Olympics, and has played host to several other international sports events since.[19]
Stockholm is Sweden's primary financial centre, one of the largest in Scandinavia, and hosts several of Sweden's largest companies. Furthermore, the headquarters of most of Sweden's largest banks are in Stockholm. Stockholm is one of Europe's major tech centres; the city has sometimes been called Europe's innovation hub.[20] The Stockholm region has a GDP of around $180 billion,[21] and Stockholm County has the highest GDP per capita of all counties in Sweden.[22]
Stockholm is the seat of the Swedish government and most of its agencies,[23] including the highest courts in the judiciary,[24] and the official residences of the Swedish monarch and the Prime Minister. The government has its seat in the Rosenbad building, the Riksdag (Swedish parliament) is seated in the Parliament House,[25] and the Prime Minister's residence is adjacent at the Sager House.[26] Stockholm Palace is the official residence and principal workplace of the Swedish monarch, while Drottningholm Palace in neighbouring Ekerö serves as the Royal Family's private residence.[27]
Economy[edit]
As the primary financial centre in Sweden, Stockholm is an influential hub for trade, finance and technology in Europe, and one of Scandinavia's largest financial centres. The Stockholm region is the leading region in Sweden by both GDP and GDP per capita, and is amongst the ten wealthiest regions in the European Union when measured by the latter.[69]
Many of Sweden's largest companies are headquartered in the city; they are drawn by its central location, skilled workforce and preeminent financial sector. These companies include some of the Nordic region's most valuable corporations, like Ericsson, which is one of the world's largest telecommunications companies, or Atlas Copco, which is one of the world's largest industrial companies; other large companies based in Stockholm include Electrolux, H&M and Securitas AB. Some of the largest investment firms in Europe are headquartered in the city, including Investor AB and Nordstjernan; also headquartered in Stockholm is EQT Partners.[70]
Stockholm is one of continental Europe's leading hubs for the technology industry; this influential industry is based in Kista, a suburb in northern Stockholm which is Europe's largest Informations and Technology cluster. Stockholm has the second most unicorns per capita in the world, after Silicon Valley; the city also has one of the highest startup rates in Europe.[71] Prominent startup technology companies in Stockholm include Mojang, Spotify and Klarna; the latter two either have been or are among the largest startup companies in the world.[72]
Most of Sweden's largest banks are headquartered in the city, including the SEB Group, Handelsbanken and Swedbank; Nordea had its headquarters in Stockholm until moving to Helsinki in 2018 for legal reasons involving the European Union.[73] The Stockholm Stock Exchange, founded in 1863, is the largest stock exchange in the Nordic Countries measured by market capitalisation, listing numerous multinational Swedish companies.[74]
Trade is a vital part of Stockholm's economy; the city's corporations are largely reliant on foreign consumers to supplement the small Swedish market. Stockholm is one of the Baltic Sea's larger ports, hosting especially cruise ships and yachts. Most of Stockholm's economy is based on export-oriented services, often towards larger, nearby European markets like Poland or Germany.[75] Tourism is a major industry in Stockholm.[76]
Stockholm often performs well in international rankings, some of which are mentioned below: