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Why is Scandinavia so expensive? | CNBC Explains

11143 ratings | 920461 views
Across Scandinavia, the average price of everything from a knitted roll neck to pastries from the local bakery are some of the highest in the world. So what makes the region so expensive? CNBC's Tom Chitty reports. ----- Subscribe to us on YouTube: http://cnb.cx/2wuoARM Subscribe to CNBC Life on YouTube: http://cnb.cx/2wAkfMv Like our Facebook page: https://www.facebook.com/cnbcinternational Follow us on Instagram: https://www.instagram.com/cnbcinternational/ Follow us on Twitter: https://twitter.com/CNBCi
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Text Comments (3151)
Elaini (2 hours ago)
Though you have to remember that in European countries the price you see on tag is the exact final price. Unlike in the US you don't need to calculate VAT or tips into that price yourself.
Ojberretta Berretta (4 hours ago)
coming from switzerland i have to say those prices are ok nothing seemes is overpriced to me
dan mu (1 day ago)
Mr. Marian (2 days ago)
Scandinavia seems expensive if you don't live there, but if you do it really is cheap. You even have a vacation money that you pay with taxes and you can go on a vacation an actually don't pay a penny.
brodi81 (2 days ago)
I have a Danish friend who is an accomplished veterinarian, he JUST got his first car at the age of 32. But every time he visits the states he makes a compelling argument on why I should move to Denmark lol
Samuel Paulini (2 days ago)
only comparation of price of a product to median income would show if they realy are left with fewer money to spend
Snifey (3 days ago)
That's just denmark
Douwe Bloot (5 days ago)
Where is the nuance? USA has a state run economy(when banks fall they get bought out etc etc etc) and look what that has brought the people.
My experience in Norway after 5 years: most people I have met are alkoholics junkies or pedophiles
Kevin Franck (7 days ago)
Amazing, I've lived here in Gothenburg Sweden for 12 plus years and see this only as a propaganda tool for Scandinavian welfare state. National Socialism for example is on the rise, funny they neglected to mention that little tidbit
svenluemmel (7 days ago)
Once you quit believing the propaganda you will find out they are actually some of the most unhappy and brainwashed peoples - much like trying to say those in east europe behind the iron curtain were the happiest. The crippling sales tax hardly allows them to buy anything but plastic ikea furniture. Their economies actually would probably still be in the 1800s if they didn't import technology created in the rest of Europe and the US (apart from some lucky oil in Norway and a few technologies such as saab in sweden. Another major problem is they are also dying out - for example in 1900 the population of Denmark and Uganda were both around 2 million. Now Uganda is at 28 million and Denmark only at 5. They are birth controlling themselves out of existence with their free pills and health care
Scandy Doyle (9 days ago)
They have 1 year of maternity leave and 6 months of paternity leave. In Ireland only 6 months for the Moms n 2 bloody weeks for the Dads 😢 And the childcare cost in Norway is a lot a lot cheaper than here. My aunt who lives in Norway once asked me, if the Irish government wants Mothers to stay home, because it's very expensive here to send our kids to a childcare.
Dream (11 days ago)
In Singapore if you want a car you pay at least US$150 000. On average a car cost about US$200 000.
Mark Hall (14 days ago)
The happiness report is a bit skewed, Swedish winters are miserable like British winters. A German guy was moaning here on YouTube recently about second hand car prices, here in the UK you can pick up a nice car eg a BMW 3series or a Nissan 370 for about £2k
LEONIDAS (15 days ago)
I love it when all of these Socialists say " It's Free ". That's the joke of a Lifetime -----
F L (15 days ago)
I’m from Finland and i love my country❤️🇫🇮
mjalex14 (16 days ago)
HAPPIEST PEOPLE? GREAT COUNTRY TO LIVE? WTF you are talking about? Why then Scandis are going to live to Greece and Spain then? fuck social care if you have to spend 8/12 months in snow and cold.
Xeper-I-Set (15 days ago)
They don't? Literally the opposite is what's happenining
Yatukih001 (16 days ago)
Simple. I live in Iceland and here is why Scandinavia is so damn expensive. Scandinavian political parties have been in union with the State in each country but that is about to change. The difference between each party depends mostly on what tradition of Scandinavia´s history the party members come from.The State in each Scandinavian country has nonetheless been undermined by the political party systems. The parties practice ablemism - discrimination against disabled people as their main united doctrine.The parties no longer represent the people and no longer know what they represent.These parties have disrespected law and order. TIf we separate political parties from the state and ban them from influencing state affairs it will be easier for Scandinavia to maintain control over it´s currencies and the economy and health care will then return to normal.
Andy Bray (16 days ago)
With the Schengen Agreement that came along, cross border trade boomed
Tao Yanbao (16 days ago)
The largest and most populous country in Scandinavia, Sweden, is only 2% more expensive than the U.S.: https://www.numbeo.com/cost-of-living/rankings_by_country.jsp That the richest country in Europe, the oil nation of Norway, is more expensive is hardly surprising (while still lagging Switzerland). Extraordinary income tend to give extraordinary price levels.
OldAgitator (16 days ago)
Because: ""Democratic Socialism"," stupid.
Johnny Greeko (17 days ago)
voetbal12 (17 days ago)
Income taxation is theft.
voetbal12 (16 days ago)
+Ben Chesterman Agreed. Applying a tax is a form of negative extrinsic motivation. I don't even mind paying a sales tax because as a consumer I have freedom of choice. Income taxation is forced upon you under threat of a jail sentence.
Ben Chesterman (16 days ago)
+voetbal12 government takes more from me what pricks
voetbal12 (16 days ago)
+Ben Chesterman Your math doesn't add up. Wouldn't a 37% tax on 96,000 leave you with 60,480?
Ben Chesterman (16 days ago)
In Australia I earn $96000aud salary / income tax is 37% = $71,000 Aud I keep
voetbal12 (16 days ago)
+Tao Yanbao Your ad hominem rebuttals are not the strategy of someone with an articulate point. If they are set "by the people, for the people" then there shouldn't be a significant percentage of the people who are displeased with the rate of taxation. What are your thoughts on the implementation of additional taxation streams and the increase in traditional ones that were originally designed as temporary measures?
Darío Saquetti (17 days ago)
Communism that works
B Henderson (17 days ago)
Highest Tax!!! Socialist slave !!!!! You don’t own a thing and your property of your Government! What did Germany do with there burdens on the state? No thank you!!!!! Keep your socialist views over there I’ll keep my freedom!!!!!
Ben Chesterman (16 days ago)
Retire with less just like Australia shite hole for retirement
John Skogman (17 days ago)
Whats wrong with your face, all red and blotchy
Danilo Almeida (17 days ago)
Visiting Sweden this year, at first I was afraid because everyone says it is so expensive. And it proved the contrary. It’s not that astronomically high compared to what they get in return for what they pay in taxes. I am Brazilian and I can honestly say that we also pay one of the highest tax rates in the world and get nothing back (with quality). In fact, some basic products here are more expensive than in Sweden.
dingo dango (18 days ago)
you got some things wrong as well, healthcare isnt actually free, well, it is free if you are under the age of 18, above, you have to pay, we do however have something which helps us if anything becomes too expensive, let's say cancer treatment pills cost 900 dollars a month, you only have to pay 150 dollars a month.
dingo dango (18 days ago)
you forgot to mention, if you earn above 3.5 thousand dollars, you will have to pay half of your income in tax to the government
MrMathiasdv (18 days ago)
Well it may technically be more expensive, but people get much higher wages here so is it really more expensive?
GrnXnham (18 days ago)
Reading through the comments here it sounds like Scandinavia is perfect for people who like to leach off of others. "I like Norway because I get lots of free stuff! ME! ME! ME! Gimme! Gimme! Gimme!" I see comments like this over and over again. Of course, it's not really "free" for everyone. They take assets from someone else to give it to you. Sounds great if you are lazy and want others to pay your way. Not so sure it's so great for someone with a strong work ethic because you are working twice as hard to pay for everyone else holding out their hand wanting more free stuff.
Ben Chesterman (16 days ago)
Australia Luxury car tax 33% on $66000 Aud cars pays for medical care
Suzi Monkey (18 days ago)
In my experience the “cost of living” is mostly (just mostly) an issue for tourists travelling around the world. The salary you earn as a resident of a country usually evens things out. Living on different continents, in a variety of countries it’s not tax or food prices that matter its mortgage and rent that costs you!
david mehta (18 days ago)
Scandinavian countries are frozen, ultra-liberal shit holes. Like Canada
lisa starves (18 days ago)
Welffare ok but.. for SOME i guess
lisa starves (18 days ago)
Is there well fare.. out there and how much do thay get..i live in Canada and i get 1.000bones.. a month.. thats the rate..
BLAZE RUNNER (18 days ago)
That's so *STUPID* as a Canadian I say this *LOWER* *YOUR* *PRICES* *SCANDINAVIA* !
Samppeli (19 days ago)
Finland could well be also in the video
Daniel Hall (19 days ago)
To some, conventional wisdom means having a high disposable income. That way I can buy lots of crap I don't need, but ultimately won't make me happy. Stuff can't buy happiness. Security buys happiness. And what better security than to live in a society that makes it a priority to take care of every ones basic needs. It's called reciprocity. Sometimes times are good, sometimes times are bad, which is why it makes sense to pool resources together for the common good than to have to go it alone. What about when you hit hard times. Honestly, it's common sense. For those of us who come from cultures where only money = security, we feel insecure when we have to rely on the community for support because we've learnt that our community doesn't give a shit about us. I see Facebook posts asking people for money through crowdfunding to pay for health costs or other expenses for when people fall on hard times. It's terrible to make people have to beg like that. I wouldn't want that for myself, nor would I want anyone else to go through this. The answer is already yes, here's the money, the resources, for god's sake.
Hello world (19 days ago)
I was on holiday in Denmark and it was not extremely expensive what is the fucking problem
Wayne Masters (19 days ago)
Yeah, we'll stick with Capitalism, thanks.
Nicolas Azoidis (20 days ago)
YouTube is pure propaganda. Anyone can claim anything.
Epic Music (20 days ago)
If you take away Norway's oil, they'll be back to farming the land.
Shane McDowall (20 days ago)
Norway makes good anti-ship missiles.
Michael R (20 days ago)
It helps keep the riff raff out like a gated comunity
Imre Pető (21 days ago)
I think the main reason is that they probably have to import a lot of agricultural products and those are the base of everything.
Thomas Headley (21 days ago)
It's not what you pay, it's what you get for what you pay.
Rad Sr (21 days ago)
I saved 300 000$ for two kid's college! 2X35x4=280k. In Sweden that is ZERO! So Socialism is so bad.....
Saif Khan (22 days ago)
The intro shouldnt be you Scarfing down a big pastery like a savage. Start the video like a normal humanbeing
AdmiralFroggy (22 days ago)
Sounds like California
David Orvik (22 days ago)
Higher wages too !!
Maximo Porto (22 days ago)
Because there is no Sun !!!!
antonio teixeira (22 days ago)
Lol, I think this guy tries to depict escandinavian has a bad place to be... Boy is he wrong!
you tube (23 days ago)
Just wondering how it works in Greenland.
Ainz Stronoff (23 days ago)
but at least it's all the products are high quality and not made in China.
TOP_WSP (23 days ago)
Scandinavian countries focus on benefits. High taxes = free health care, education and support for the jobless. People misunderstand Norway for example, and think the oil is our biggest income. Oil is in fact our third biggest income, with taxes as the first. Every year the government is limited with money to use. If we were to use extra money from our oil found, then money would be less worth in the country. Despise this, the government takes out a low percentage of the oil found each year to help us with building roads, hospitals and such. They choose to rather increase the price of groceries and other things each year, little by little. Yes, our income is HUGE by tax, but our expense is even bigger. Our biggest factor on our expenses is insurance, as in money support for the people. For example, for retirees, jobless people, sick people, education for people, people with children. Lastly, we get paid more on average than the US for example. Taxes are huge and the benefits seem like unnecessary, but once you hurt yourself and end up on the hospital with the bills covered and with normal pay, or the relief of not having to worry about money when your child needs surgery or life saving treatment. Then you’ll probably understand how lucky we are.
Стас Стас (23 days ago)
TOP_WSP Norway have higgest rate of childless men in the world 25% at age 45 years old, one of the higgest abortion rate in the world, I think Norway have some big problems.
Kunal Bajaj (23 days ago)
What am I doing here? YouTube did it again!
23bogarka (23 days ago)
Short,...Good communism..
Alex Scher (24 days ago)
So Scandinavian goods are taxed to death
Renato Gomes (24 days ago)
Brazil is very expensive as well, but is corrupt.
Max Edelstahl (25 days ago)
we are NOT "happy with status quo"! :-(
Mr. Jackson (25 days ago)
To keep people like you out if it
Pussy Slayer (25 days ago)
Luckily I don’t watch tv or go to bars. Affordable food, housing, healthcare, and education are better trade offs than a hedonistic lifestyle.
Jooo J (25 days ago)
Swedish society reminds of the game We Happy Few. They are "happy" because they eat antidepressants like candy.
Michael Zhuang (27 days ago)
Socialism lol
Land Lord (28 days ago)
Most expencive is alcohol, tobacco and to have a car. If you can avoid all of those, you are well off. Greetings from Åland/Finland! Welcome: www.enigheten.ax
kat malual (28 days ago)
Not more than Dubai😂👌👍
Bo Kvarv (28 days ago)
Average WAGES in Norway at least is 50 to 75% higher than the avrage in europe, so it is not that expensive
Black Brit (29 days ago)
Be interested to know about obesity rates. I imagine if alcohol and food are so expensive, people are probably less obese than in "cheaper" places.
Tony Neville (29 days ago)
Thats nothing come to Australia the most overpriced country in the world
heinz53 (29 days ago)
Socialisme......thats all
JeniloveVlogs (29 days ago)
Are you kidding me? They are the happiest people? hahahahaha… So all the rich country are the happiest?? how??
Lori Mabee (29 days ago)
Scandal navia
Jari Varjosola (30 days ago)
and finland higest prices....
william louie (30 days ago)
COL is not high if considered what you have pay for health care and other benefits you receive from the government.
Just Click Me (30 days ago)
Like om du er fra Scandinavia
Michael Robins (30 days ago)
Expensive for negros
purplerains (1 month ago)
.........................Dear god this video was just the bleating of the sheep, and I do not mean the adorable actual sheep, whose actual behavior and bleating is more beguiling than people think...I still hold on my first analogy with an inaccurate view of sheep, though!
high tax rate. id imagine due to their colder climate alot of their food is also imported as well, that most likely contributes to the price.
Can't Grill the Grillo (1 month ago)
One word: TAXES
AlCapwnd 1441 (23 days ago)
Another word: TEXAS
thomas grabkowski (1 month ago)
Socialism drives up prices for everything
Mystery Buyer (1 month ago)
I would rather live there than the United States. In the United States the safety net is pathetic. Waiting lists, high rejection. Not enough even if you are approved.
yushi911 (1 month ago)
Scandinavian country are expensive for foreigner. Does it worth the visit? Depends what you like. For us no. We are Canadian and my family were in Dannemark last week. Very granola lifestyle which is good. But that's pretty much. No real distinguish cuisine like french or spanish. People where puma, addidas, ecco...they all have the same backpack. Surprising to see how people wear all the same things. Services in restaurant, café, shop are absolutely slow. Cities transport indication are not updated. And employees are not very friendly to help tourists. Really not what we were expecting as we heard very often it's good place to live. I think they had a better gender equality policies, a lot families benefits and a very environment friendly government. Which are very great for citizens but America is a must better place to visit and to have fun. My humble opinion.
Texas Ray (1 month ago)
Immigrants are going to destroy that welfare state in no time at all.
niels nielsen (1 month ago)
a can of beer is barely more than a dollar
Gonzales Frederic (1 month ago)
Welfare in Sweden is vampirized by the Muslim invaders. So, ...
ryan (1 month ago)
The netherlandssssss🇳🇱🇳🇱🇳🇱🇳🇱
Wisewoe Tiswell (1 month ago)
Why not talk about NORDIC countries??? The top countries at 3:20 include Finland and Iceland - countries that are part of the Nordic Council and have a relatively fluid inter-nordic job market and education within Nordic borders. Germany is also successful because they share a lot of the same sentiments and culture to a large degree. We're not flashy, we value humblebrag and simple, practical design.
j (1 month ago)
There seems to be some confusion about Scandinavia and what counties are in Scandinavia. This is what Wikipedia says... https://sv.wikipedia.org/wiki/Skandinavien#/media/File:Scandinavia.svg ..there you go. Norway Sweden and Denmark.
thoyo (1 month ago)
Explains why Polar Skate Co. costs so much :'(
aquawolf (1 month ago)
Where’s Finland in this
Neville Okumu (1 month ago)
Why do you need a beer when everything is going great for you?
Gary Wickert (1 month ago)
I lived in Norway for 20 years. First of all, Norway is not socialist. But it is not a utopia. Education is free but it is almost impossible to get into a university and everything else is super expensive just to pay for the education you can't get. Housing is through-the-roof expensive. Everything in Norway is expensive...two to three times as expensive for clothes, shoes, movies, market food, rent, cars, internet, phones, etc. But hey, education is free. Silly twinkies. It's not what you think it is. Norway even banned skateboarding from 1978 to 1989.
Viggo Konradsson (1 month ago)
Lol va??? Eller de e nog dem idioterna dom inte jobbar
Di fang (1 month ago)
Tim Rodriguez (1 month ago)
Bet the Scandinavians are feeling great about paying their taxes to all those new immigrants.
Anders K (1 month ago)
Well, the living standard of scandinavian is still way higher than found other places on the earth.
Nursultan Baikoziev (1 month ago)
That’s what happens if Democrats win on midterm elections America is not Scandinavia. America is big country socialism will take down USA Only capitalism is way for USA and everywhere. Democratic social idea dangerous for USA
Nursultan Baikoziev (1 month ago)
Go to Russian and you will how socialism work in big countries Scandinavia countries smaller then only NY, not to say rest of USA states, it gets corruption and messed up
Anders K (1 month ago)
''This is what happens'' - you mean higher average income? Better living standard? Less homeless people? No school shootings? You make no sense.
Lukas Klein (1 month ago)
2:32 And even their cars have antlers in Scandinavia!
Pedro Leal (1 month ago)
one of the highest level of poverty aswell :)
Anders K (1 month ago)
Can you explain? Scandinavia doesn't have tent cities as seen in the US? The living standard is way higher in Denmark.
Ben Chesterman (1 month ago)
High taxation is democradic socialism in Australia 45 yrs , just like norway . Politicans get richer
Albert Alberto (1 month ago)
Because they tax the poor to feed the rich.

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