In the recent State of the Nation Address, the President noted that “the key task of government is to create the conditions that will enable the private sector – both big and small – to emerge, to grow, to access new markets, to create new products, and to hire more employees”.
The recovery from 2020 and 2021's interrupted business cycles is evident in most Swedish companies operating in the country. About half of the respondents recorded a profit in the 2021 financial year. Compared to the previous years, investment plans for the short term remain positive, with most companies planning an increase in their activities in this regard.
Hosting the largest concentration of multinational companies in the region, South Africa’s legacy as a commercial hub remains an attractive market even for Swedish companies looking to export to the region. Swedish-South African commercial relations date back to over a century. During this period, Swedish companies have contributed to local growth aspirations.
Important climate, ecological and other sustainability goals have considerably changed the way markets do business. Sweden’s identity as a sustainability champion contributes toward developing business in South Africa.
The local market is increasingly becoming environmentally conscious and, therefore, defaulting towards environmentally friendly products. In addition, Swedish/European products are of superior quality. In parts of the economy where price sensitivity is relaxed, Swedish products have been considered as being high-end and preferred as compared to other similar product offerings.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey is an initiative by Team Sweden globally and in South Africa to analyse the development of the local commercial environment citing pertinent issues affecting the trade in goods and services from Sweden into the country and region.
This report has been structured based on the companies’ responses to the economic outlook, market, local success factors, and sustainable business practices. To obtain the information used in this report, Team Sweden in South Africa sent out a survey to about 50 Swedish companies in South Africa and responses are based purely on their experience and existence within the market.