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Oslo Economy

Oslo has a very diverse and robust economy with one of the highest regional GDPs in Europe. Oslo is at the 2nd position after Amsterdam, in the category of business friendliness. According to the figures, the GDP per capita in the region was €49,465 (NOK391, 399) in the year 2003, which is nearly twice the GDP of other EU countries.

The Norwegian capital city Oslo is an important maritime port with nearly 2000 companies. Some of the largest shipping companies, shipbrokers and insurance brokers are based in Oslo.

The Port of Oslo is a major centre of cargo and passenger transport with nearly 6000 ships docking at the port. Around 6 million tonnes of freight is transported to and from Oslo, and over five million passengers make use of the port each year. More than two million guests arrive in Oslo, and Oslo city is rapidly becoming one of the top tourist destinations in Europe.

Furthermore, three major maritime classification societies in the world, which include Det Norske Veritas is headquartered at Høvik outside Oslo.

The gross domestic product of Oslo totalled NOK268.047 billion (€33.876 billion) in 2003, which amounted to 17% of the national GDP.

Oslo is also one of the most expensive cities in the world. According to the Worldwide Cost of Living survey by EIU, it ranked third in 2015. As of today, around 2655 largest companies are based in Oslo, Norway. The majority of companies are from the oil and gas sector.

In the employment sector, the service industry is dominant in Oslo, accounting for more than 59% of jobs. Other employment areas include the tourism industry, hotels and restaurants, trade, banking and insurance.

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