Reviewed by: Editorial Staff
Sweden has a market economy, heavily dependent on foreign trade. Timber, hydropower and iron-ore form the resource base of the economy. Telecommunications as well as the automobile and pharmaceuticals industries are very important. Swedes are considered to be highly skilled.
Sweden is considered relatively expensive. Though, more and more inexpensive options are now available to visitors. The average daily expense of a tourist in Sweden varies between 200–500 SEK.