General Information

Capital: Copenhagen‍

Official Language: Danish

Religion: Christianity (~75% Church of Denmark)

Government: Unitary parliamentary constitutional monarchy

• The Kingdom of Denmark also contains two autonomous territories, Greenland and the Faroe Islands

Legislature: Folketing AKA the Parliament of Denmark

Area: 16,577 sq. miles

Location: Northern Europe

Population: 5.9 million (2022 estimate)

Climate: Temperate, with mild winters and cool summers

Geography: Denmark consists of the Jutland peninsula and 443 islands (74 of which are inhabited)

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Economics: 

• GDP: $399 billion (2022 estimate)
• Currency: Danish krone
• Since 1945, Denmark’s industrial and service sectors have greatly expanded. As of 2017, the service sector accounts for around 75% of the GDP.
• Major industries: wind turbines, pharmaceuticals, medical equipment, machinery, food processing, and construction
• Denmark stopped issuing new licenses for oil and gas extraction in December 2020.
• Denmark ranks highest in the world for workers’ rights. They also have the world’s highest minimum wage.
• Along with other Nordic countries, Denmark has adopted the ‘Nordic Model’, combining free market capitalism with a welfare state and strong worker protection.
• A referendum in 2000 rejected adoption of the euro as currency, in favor of keeping the krone.

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Doing Business:

• Denmark is a country where you can expect to be treated with equity when engaging in business. There are many women in higher business positions, compared to other countries.
• Community relations are very important when doing business in Denmark.
• In general, the business culture is very egalitarian, with managers acting more as ‘first among equals’, rather than strict authority.
• Denmark is ranked highly on the World Bank’s scale for ease of doing business and the Index of Economic Freedom.
• Denmark runs on a ‘flexicurity’ model. This means employers have ‘flexibility’ in that they can hire and fire at will, and workers between jobs have ‘security’ because unemployment compensation is relatively high.
• The Danish corporate tax rate is 22%. There is a special time-limited tax system for expats.

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History & Culture: 

• Denmark has been inhabited by humans since approximately 12,500 BC
• The Nordic Bronze Age was between 1800-600 BC and is evidenced by burial mounds which have helped archaeologists discover many findings from the period.
• Ribe, the oldest town in Denmark, was founded around 700 AD.
• Danish Vikings were active in all parts of Europe from the 8th to 10th centuries
• Denmark’s King Christian attempted to colonize key trading posts in Africa and India in the 1600s. They continued to rule in India, Ghana, and the West Indies for multiple centuries.
• After the European Revolutions of 1848, Denmark became a constitutional monarchy with a two-chamber parliament.
• Denmark was a founding member of NATO and the European Free Trade Association (EFTA). They then joined the EU in 1973.
• Denmark has long been known for its scientific and technological inventions and research, from the beginning of the scientific revolution. 
• Cycling is very popular in Denmark, both for practical transport and leisure.
• Denmark is considered a very progressive country, with supportive legislation for women’s rights, minority rights, and LGBTQ rights. 

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Sources:

https://en.wikipedia.org/wiki/Denmark

https://www.britannica.com/place/Denmark

https://www.worldbusinessculture.com/country-profiles/denmark/

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