Denmark - Market Challenges Denmark - Market Challenges
- Even though Danish consumers are seen as early adopters of certain products, primarily hi-tech products, a majority are also relatively conservative. They prefer to buy products that have already proven their technology and value.
- Danish companies believe in long-term relations. Companies that are in the market chiefly to “make a fast buck” may find better opportunities in markets other than Denmark.
- Danish wages are high and personal taxes are among the highest in the world, but corporate taxation is among the lowest in the EU (22% in 2018).
- Denmark has decided not to participate in the Euro, but the Danish Krone is pegged to the Euro with a very narrow band (2.25%) of Central Bank intervention rates. However, the government’s monetary and exchange rate policies aim at price stability and building international confidence in a strong Danish economy. There is strong international confidence in the Danish economy and the Krone.