Economy of Greater Oslo

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The economy of the

Greater Oslo area in Norway's southeast region plays an important role in the country's overall national economy. The Norwegian capital was named the 'priciest city in the world' in 2006 by the Economist Intelligence Unit, which compared the cost of living in 130 cities in a survey and ranked its findings.[1]

PWC office building to the right and KLP
office

In the maritime sector alone,

offshore structures, with about 16.5% of the world fleet in its register.[3]

Industrial features

Inside city limits, the Port of Oslo features a large general cargo area, accommodating an annual tally of approximately 6,000 ships, 6 million tons of cargo and over five million passengers. The gross domestic product of Oslo totaled NOK268 billion (€34 billion) in 2003, which amounted to 17% of the national GDP.[4] This compares with NOK166 billion (€21 billion) in 1995. The metropolitan area, bar Moss and Drammen, contributed 25% of the national GDP in 2003 and was also responsible for more than one quarter of tax revenues. In comparison, total tax revenues from the oil and gas industry on the Norwegian Continental Shelf amounted to about 16%.[5]

Cost of living

Oslo was named one of the most expensive cities in the world in 2006.[6] That year, the city ranked tenth in a worldwide cost-of-living index provided by Mercer Human Resource Consulting.[7] The city took first place - for being the priciest city in which to live - in a separate survey through the Economist Intelligence Unit, division of the London-based media company The Economist Newspaper Limited.[8] In 2018, Zurich was named the most expensive city, followed by Geneva in second place and Oslo in third by the Swiss bank, UBS.[9]

Energy

The Oslo region possesses a unique competency gained through its central role in 100 years of

Oslo Innovation Center is the leading business incubator in the region. The park is strongly committed to the commercialisation of ideas and results from research environments through creating favourable conditions for business start-ups. The center has recently constructed an environmental technology wing to accommodate the ever-growing need for research into Renewable energy
and climate-friendly technologies.

ICT

Fornebu, west of Bygdøy is the ever-changing IT district in Oslo where Telenor's headquarters are located. Telenor Arena can be seen on the right.

FAST, which has become a global market leader in search engineers, has been appointed a Norwegian Centre for Research-based Innovation (SFI) thanks to its Information Access.[14]

R&D environments are found at Fornebu, Kjeller, Halden and Horten
.

Maritime

Norway's

DnB NOR and Nordea
, and leading brokerage houses like Fearnlys, Pareto and RS Platou. Oslo Maritime Network (OMN) is a non-profit collaborative network organisation gathering members from all segments of the maritime cluster in Norway's capital region.

Research

In 2004, the Oslo region was ranked six on innovation in a comparison with the regions of the

high-tech
employment and innovation co-operation in medium-sized enterprises.

At the national level, the 2005

R&D in the city of Oslo. Other R&D hubs in the region are found at Ås, Kjeller, Kongsberg, Fornebu, Horten and Halden. Cost-saving technology is a top priority for Norwegian businesses and Norwegians are quick to pick up new and innovative technological products and ideas and use them in their daily lives. The European Innovation Scoreboard 2003 puts Norway second after Denmark on its innovation take-up barometer.[22] Norwegians use on average only four years to start using new technologies and Norway in general and the Oslo region in particular are excellent testbeds for new innovative technological products and ideas. The Oslo region has seen a strong growth of actors in the regional innovation support system in recent years. The regional innovation support system is made up of 23 different actors, including technology transfer offices, science parks, business incubators, venture capitalists and a range of other companies and programmes providing support and assistance in the process of commercialising research-based ideas and helping entrepreneurs developing their businesses into the international marketplace. [citation needed
]

See also

References

  1. ^ "Oslo 'priciest city in the world'". 2006-02-01. Retrieved 2024-04-06.
  2. ^ Oslo Teknopol Mal Archived August 22, 2006, at the Wayback Machine
  3. ^ Dnv.com Archived 2012-07-29 at archive.today
  4. ^ "Regional accounts". Ssb.no. Retrieved 10 June 2009.
  5. ^ "e_skdårsm03_web_3.indd" (PDF). Archived from the original (PDF) on 18 March 2009. Retrieved 8 July 2009.
  6. ^ "Special Reports | Oslo 'priciest city in the world'". BBC News. 2006-02-01. Retrieved 2010-06-21.
  7. ^ "Mercer: Consulting. Outsourcing. Investments". Mercerhr.com. Archived from the original on 16 May 2008. Retrieved 10 June 2009.
  8. ^ "In Depth | Oslo 'priciest city in the world'". BBC News. 1 February 2006. Retrieved 10 June 2009.
  9. ^ "UBS's Prices & Earnings report compares the cost of living in 77 cities worldwide; finds Zurich is world's most expensive city, while salaries go furthest in Los Angeles | UBS Global". global. Retrieved 2024-04-06.
  10. ^ "About us - SINTEF". Sintef.no. 2007-01-01. Archived from the original on 2009-12-27. Retrieved 2010-06-21.
  11. ^ "Store norske leksikon - mobiltelefon". Snl.no. Retrieved 2010-06-21.
  12. ^ "Store norske leksikon - GSM". Snl.no. Retrieved 2010-06-21.
  13. ^ "Store norske leksikon - Kongsberg Gruppen ASA". Snl.no. Retrieved 2010-06-21.
  14. ^ "Store norske leksikon - Fast Search & Transfer ASA". Snl.no. Archived from the original on 2011-08-17. Retrieved 2010-06-21.
  15. ^ "Business and industry in Norway - 4) Information and communication". regjeringen.no. 2001-06-28. Retrieved 2010-06-21.
  16. ^ "Daily News - Telenor Named Top Performer by Sustainability Yearbook". Designtaxi.com. 2008-02-20. Retrieved 2010-06-21.
  17. ^ "Jobb og utdanning - Oslo ICT Network". Oslo-ict.no. Archived from the original on 2010-07-17. Retrieved 2010-06-21.
  18. ^ "Fannefjord (05/2010) - Maritimt Magasin". Maritimt.com. Archived from the original on 2012-09-03. Retrieved 2010-06-21.
  19. ^ "DNV - Det Norske Veritas B.V". Rotterdamportinfo.com. Retrieved 2010-06-21.
  20. ^ "Rapport" (PDF). Archived from the original (PDF) on 2010-05-08. Retrieved 2010-06-21.
  21. ^ "UiO facts and figures - University of Oslo". Uio.no. Retrieved 2010-06-21.
  22. ^ "European Innovation Scoreboard 2003". Cordis focus (20). European Commission. November 2003. Retrieved 2023-09-13.
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