Currently, around 39,000 people move to Stockholm each year, and the city is predicted to grow at a rate of six times faster than Paris and twice as fast as Copenhagen by 2030. Every year millions of visitors travel to Stockholm. In 2017 Stockholm had over 14 million commercial overnight stays and the city continues to climb the list of most attractive destinations in Europe. Since 2016 more than 40 new international direct flight connections have opened, including direct flights between Stockholm and Los Angeles, Singapore, Milan, Dusseldorf, Shanghai and New Delhi.
There has been a considerable increase in new retail space developments and expansions of shopping centres and city districts. Reasons include swelling retail sales and high population growth rates, much higher than other leading European cities. The opportunities for international retail brands are many, and most indicators are in Stockholm’s favour, in particular for retail chains.
- Many brands see Stockholm as a great test market, as we are known to be open minded and early adopters. Consumers here increasingly favour brands that are clear about their values and strive to make a positive contribution. We can, for example, see a growing interest in brands that offer recycling, repairing and second-hand products, says Karin Strassburg, Business Development Manager at Invest Stockholm.
With consumers increasingly looking for experiences, many exciting developments are under way in Stockholm city, creating new social spaces connecting hotels, retail spaces, offices and restaurants. The restaurant industry's turnover is growing fast and hit a record high of SEK 132 billion in 2017 at national level.
- There has been a shift in recent years with Stockholmers increasingly eating out. We spend about as much on cafés and restaurants as we do on groceries, and we have a lunch culture where many people eat at a restaurant five days a week. This means that in addition to an attractive retail market, Stockholm offers opportunities for anyone who wants to bring new F&B concepts to our city, concludes Karin Strassburg at Invest Stockholm.
Find out more in the Retail Guide or contact Karin Strassburg for more information.