The global forces shaping Denmark

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McKinsey: Which global forces could shape Denmark in the potential new era?

Klaus Dallerup: Denmark has a lot to lose. It’s a very strong economy in terms both overall and in terms of GDP. But there are a few global forces really affecting it, like the green transition. It’s a wealthy country, and therefore a large energy consumer. It’s also a small country, and very dependent on international trade. Denmark is also a very modern country where technology is heavily used, but there’s still much to gain.

And last but not least, as a small country, inland production and services are not as important as exports, which will continue to play an important role. In the coming years, we will see massive shifts, for which the Danish market could be very well prepared. We have looked at different types of opportunities, and there’s definitely a big one around green power, because Denmark was a pioneering country in offshore and onshore wind power production.

These are new opportunities, both as the wind power market continues to grow, but also in power-to-x, the ability to convert, store and reuse renewable electricity, which requires energy to get off the ground. And the energy generated by offshore and onshore wind power will be part of that ecosystem. So there’s an ecosystem around green that will definitely become super interesting for the country and for the companies.

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