Finland  

Finland performs well in economic fundamentals, with unemployment at 7% and a low inflation rate of 3%. Finnish workers have access to a large amount of physical capital, such as offices and machinery, placing the country at 16th on this variable. Domestic savings are at 27% of GDP and household expenditure at 25% of GDP. The banking sector is highly efficient, with 0.3% of loans in default and narrow lending and borrowing margins that rank Finland’s banking sector the second highest, internationally. The country’s level of foreign direct investment is average according to global standards. A strong ratio of export revenues to the cost of imports indicate good terms of trade and a low raw material concentration points toward a heavily industrialised nation, focused on high value-added products and services.

Businesses face few barriers to entry, with only three formal procedures to start a business, and this favourable environment has led to 10,424 new businesses registering in 2007. The internet infrastructure, as measured by secure internet servers and bandwidth, is relatively strong, ranking the country 12th in the former and 30th in the latter variable. On average, access to personal computers is high, at 50 per 100 capita, placing Finland in the top 20 on to this variable. ICT and high-tech exports account for a fifth of goods exported, and value added in services is also high ranking Finland just outside the top 30 on this variable. Finland enjoys a high level of royalty receipts, meaning the country is able to capitalise on its intellectual property. Investment in R&D; is considerable, at 2.6% of GDP, placing Finland in the top 10.

Finland ranks first for political rights and civil liberties and this can be attributed to appropriate constraints on the power of the executive branch, well regulated and competitive elections, and significant checks and balances throughout the political system. Finland also ranks first in the Index in terms of open competition for both the executive and legislative branches of government, and in regulation of the electoral system. The judiciary is independent, and the political system as a whole is stable, the last fundamental change having occurred more than 60 years ago.

Education expenditure in Finland is one of the highest, globally, with over $12,000 spent per student in primary and secondary education. With a primary school enrolment rate of 97%, a top 10 ranking for secondary enrolment, and a 93% enrolment rate for tertiary education, Finland ranks among the highest on all enrolment variables. The Finnish labour force has an average of 5.5 years of secondary education, placing Finland in the top three, globally, and an extremely high average of 4.8 years of tertiary education. Investment in a highly skilled workforce begins early, with a high pupil to teacher ratio of 16 students to each teacher in primary schools, and parity across the sexes with regard to enrolments.

Life expectancy in Finland is high at 71 years and the country has strong healthcare provision, with 26 doctors per 10,000 capita and seven hospital beds per 1,000 people. Finland obtains the highest possible score in terms of public access to sanitation facilities and 93% of the population expressed satisfaction with the quality of water.* Infant mortality rates are among the lowest in the world at only three instances per 1,000 births and just 3% of the population is undernourished.* Despite strong healthcare provision, Finnish citizens report low levels of health satisfaction: personal health satisfaction levels place Finland at 32 on this variable, approximately one in five people claim health problems, only 69% of respondents report feeling well rested, and 19% reported feeling consistent pain.*

Finland faces few security challenges related to refugees, social groups with a history of discrimination or other grievance, or human flight from dangerous conditions. Incidences of state-sponsored violence or repression of citizens are the lowest in the world, and there were no casualties due to civil war in 2007. With 27 homicides per one million people, Finland performs only above the global average on this variable. Further, almost one in 10 report their property having been stolen over the past year.* Despite these estimates, civilians’ perceptions of their own safety are strong, with 81% feeling safe to walk alone at night, and only 2% having claimed to have been assaulted in 2007.*

Finnish citizens have extremely high levels of trust in their political system. Approximately 94% have confidence in honesty of elections, and the system allows full political participation. Only 13% of people believe their government to be corrupt, while only 20% believe local businesses to be corrupt. These are the lowest rates of corruption perception worldwide. Public confidence in the military is high, with 93% showing confidence. Finland benefits from a very effective government, ranking the country seventh on this variable. A sophisticated judicial system, respect for property rights, and high quality enforcement of law place Finland in the top 10 with regard to rule of law and regulatory equality. The judicial system, in turn, has the approval of the public, with 80% declaring their confidence in the courts.

Finnish citizens enjoy unconstrained levels of freedom of movement, religion, and speech, and 95% of respondents feel satisfied with their freedom to choose in their daily lives, placing Finland 3rd on this latter variable.* Tolerance of others is also high, with three-quarters of respondents believing Finland a good place for ethnic minorities, and 78% feeling that Finland provides immigrants with a good environment in which to settle.*

Social capital is strong in Finland, with 59% of individuals believing other people can be trusted, and a very high number of respondents stating that friends are important to them, ranking the country in the top five on these variables.* Further, 96% of Finns believe they can rely on their family and friends.* High donation and volunteering rates place Finland amongst the top 30 nations, but helping strangers remains uncommon, with only 37% reporting they had helped a stranger in the past year, placing Finland 73rd on this latter variable.* Finnish citizens enjoy high levels of group membership: sports, arts, and environmental association memberships are all in the top 20, at 36%, 19%, and 10%, respectively.* Further, despite a low level of religiosity, 79% of the population claim, to be members of a religious institution.*

* Data taken from the Gallup World Poll

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