Norwegians invest the least in Scandinavia
Norwegians are at the bottom of the podium when it comes to personal investment, according to a study conducted by the investment platform eToro.
Of the three Scandinavian countries, Sweden won the victory, with 59.6 per cent of respondents answering investing in either shares, liabilities, funds, real estate or cryptocurrency.
Denmark took second place, with 37.9 percent of respondents answering that they invest. In comparison, only 31.3 percent of the Norwegian respondents could answer that they invest their savings.
Lack of knowledge about the financial and stock market
Despite last year’s record increase in the number of Norwegian women investing, they still lag behind their Swedish and Danish neighbors. The proportion of Swedish women who invest is more than twice as high as the proportion of Norwegian women – 50.4 per cent against 23.6 per cent.
However, there is no shortage of interest in investing, as 70 percent of Norwegian women who do not invest reported that they want to learn more about how it is done. The lack of knowledge, combined with low disposable income, was highlighted as the main reasons why Norwegian women do not invest.
results from the study
Land | Proportion of female respondents who invest | Proportion of male respondents who invest |
Norway | 23.6 percent | 40 percent |
Denmark | 25.9 percent | 50 percent |
Sweden | 50.4 percent | 68.7 percent |
eToro
The survey also revealed that men have a greater degree of confidence in their own investment abilities and women. It was the Norwegian women who once again scored the lowest of the three countries when it came to confidence in their own investment knowledge.
Sweden leads
The Swedish respondents are clearly investing to the greatest extent, both on the women’s and men’s side.
As both Norwegian and Danish women highlight a too low disposable income as the reason for the low investment rate, survey results from Sweden pointed out that fundamental differences in investment patterns can be found among women in the various countries.
The Swedish respondents stated an example that overall they have a lower disposable income than the Norwegian women. Nevertheless, more than twice as many Swedish women invest.
The survey also revealed that Norwegian women are happy to invest larger amounts when they first invest. Of those who invest, 73.3 percent of Swedish women say they invest monthly amounts of less than 5,000 kroner. In contrast, blacks 40.4 percent of Norwegian women invest larger amounts of more than 5,000 kroner each month. This may indicate that Swedish women do not need as much capital as the Norwegians to get started, the study writes.
The survey was conducted by eToro among a representative sample of 3,000 people in Norway, Sweden and Denmark.