The United States, with its vast market and diverse business environment, offers a multitude of opportunities for Swedish companies looking to establish a presence or expand their operations overseas.

Of the Swedish companies contributing to this report, 61 per cent perceive the US market as a good/very good business landscape to be a part of. In this year’s Business Climate Survey, we see a continued positive commitment from Swedish companies for the US market, with a majority (72 per cent) of the responding companies expecting increasing revenues. However, we also see an increased share of companies expecting a decrease in turnover in the upcoming year (13 vs. 3 per cent in previous years), possibly reflecting the current challenging economic situation in the market.

Even though turnover growth could be challenging, there is still a commitment to continue investing in the US – with 88 per cent of the companies expected to continue investing at the same level as in previous years or even increasing their investments.

The US is a major driver of the global economy, and this continues to attract Swedish companies. Since late 2021, three new prominent policies have been introduced in the US, which all have the potential to affect the US business climate for foreign as well as local companies.

Most respondents still believe being explicitly Swedish contributes to their US business – with 54 per cent claiming it contributes partially or much. However, when comparing to the previous year’s answers, the significance of the Swedish brand has decreased – especially with a growth of the “partially” segment.

Please download the report to fully overview the results with a detailed analysis. 



The Business Climate Survey is a tool used by Team Sweden to map the opportunities and challenges that Swedish companies face when doing business across the world. This survey observes how Swedish companies operating in the US perceive market conditions and the economic prospects of their businesses – and whether these views diverge across company types.

Today, it is likely that more than a thousand Swedish or Swedish-affiliated subsidiaries are active in the US. More than 800 Swedish companies were contacted to partake in the 2023 Business Climate Survey, with answers collected during March and April 2023. Selected companies were interviewed to ensure a deeper understanding of the factors driving their responses. This year’s Business Climate Survey received a total of 124 responses.

We would like to extend our most sincere gratitude to the Business Climate Survey respondents for their invaluable contributions to this report. Together, we will continue to seek opportunities for growth and mutually beneficial trade.