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From music to fashion: how Stockholm’s creative talent will bounce back post-Covid

If you live in or have spent time in Stockholm, you’ll be familiar with its creative energy and cutting-edge innovations within music, gaming, film and fashion.

From music to fashion: how Stockholm's creative talent will bounce back post-Covid
Photo: Getty Images

Creative industries that depend on connecting with an audience have faced obvious challenges arising from Covid-19. But with the rollout of vaccinations progressing, there’s renewed optimism in Stockholm among both creative people and politicians about the city’s cultural future.

The creative and cultural industries are already a hugely important part of the city’s economy – and exciting new developments are just around the corner. The Local, in partnership with Invest Stockholm, takes the pulse of Sweden’s capital – and finds plenty of signs of creative resilience. 

Interested in culture? Find out about the most exciting exhibitions and events in Stockholm right now

Brain businesses: a true knowledge hub

The beating heart of Stockholm is undeniably creative. But how can you hope to quantify such a quality? 

Well, one way is to look closer at the knowledge economy – consisting of jobs that are more intellectually-driven than physical in nature. So-called ‘brain businesses’ are on the rise in many European cities.

Nonetheless, Stockholm ranks third in Europe in this regard, behind only Bratislava and Oxford, according to the European Centre for Entrepreneurship and Policy Reform think-tank. This is sure proof of a thriving “creative class”, to use the term popularised by the author and expert in urban studies, Richard Florida. 

As stated in Creative & Cultural Industries in Stockholm, a 2020 report published by Invest Stockholm, this means both supply and demand for creative talent are high. With around one in 20 employees in Stockholm involved in the creative and cultural industries (almost 64,000 people), the report makes the case that these people are “not only passionate souls, but also professionals” who are vital to the city’s economy.

And since talent attracts talent, plenty of bright minds from around the world are choosing to make Stockholm their home.

Music: why Stockholm can still hit the high notes  

Stockholm’s global reputation as a heavyweight player in the music industry goes back decades. Whether your taste is more ABBA or Avicii, you’re sure to know something about the talent – and perhaps you stream it via Stockholm-based Spotify? Stars of today like Seinabo Sey and Tove Lo continue to burnish the Stockholm name internationally.

What about the hard figures? The average annual value added per music industry job in the city is around 1.6 million Swedish kronor, according to last year’s Invest Stockholm report. That’s more than 40 percent above Stockholm’s overall average figure per job.

Few industries face more direct challenges as a result of Covid-19. But once enough people have been vaccinated and gigs return, Stockholm’s live music scene is sure to bounce back strongly, further cementing the city’s status as a leading musical talent base.

The city’s proven track record in music is underpinned by factors that remain as relevant as ever, including reliable policies and high freedom of expression. Don’t be surprised when the next Stockholm superstar bursts to prominence – nor if it happens via social media first, and on stage second.

Find out about Stockholm’s key cultural attractions – and visiting opportunities in person or online

Photo: Tove Freij/mediabank.visitstockholm.com

Gaming: booming industry seeks Space to grow

Every eighth person in the world has played a game made by Swedes. So even if gaming isn’t your thing, you’ve probably at least glimpsed one of the famed Swedish creations on somebody else’s phone at some point.

Autumn 2021 will see the doors of Space, a new digital cultural centre, open in central Stockholm. It will also be Europe’s largest permanent esport and gaming venue, with more than 500 ‘fully equipped stations’ in its gaming centre.

Space will also feature a multi-purpose arena, content creation and music studios, restaurants and cafes. It will allow creative types to thrive and to “have a stronger sense of belonging”, says Gustav Käll, CEO and co-founder.

A true Stockholm success story, gaming is also big business. Some 13 of Sweden’s biggest 16 gaming firms are in Stockholm. The value generated per employee is 2.2 million Swedish kronor – almost twice that of the average Stockholm job. 

Space will also eventually offer co-working space. The idea is to encourage Stockholm startups to develop business models in the midst of their potential audience – the digital natives shaping tomorrow’s world.

Fashion: from second-hand solutions to human holograms

Fashion is the biggest of Stockholm’s creative and cultural industries, with annual revenue of more than 69 billion Swedish kronor. Stockholmers are known for being stylish and Scandinavian design continues to be a source of fascination for much of the world.

Sustainability, a topic that permeates all areas of life in Stockholm, is also central to the city’s contemporary fashion industry. Stockholmers love to shop second-hand and companies like Sellpy, Arkivet and ReRobe have tapped into this interest to make it easier than ever to buy and sell used clothing and other items. 

Looking ahead, could the fashion and tech worlds come together in Stockholm to provide inventive new customer experiences and offerings? 

Monki, which is part of H&M group, focuses on supporting change towards more sustainable, “circular production”. The Monki brand has also investigated the potential for customers to use “high definition human holograms in Augmented Reality” to view outfits before buying online. 

Architecture: designing a better future 

Of all the sub-industries in the creative and cultural sector, the biggest growth since 2010 has come in architecture. That’s true in terms of both turnover and employees.

Major ongoing projects in Stockholm include a strong focus on sustainability but also on creating ‘urban villages’ that restore a positive sense of community. Indeed, the concept of community is central to so much of what can keep the creative industries strong in challenging times. 

And no matter what your cultural interests, or whether you get involved in person or online, you can always play a role in supporting what you love in a city as full of creative activity as Stockholm.

Looking for cultural things to see and do in Stockholm this summer? Check out the city’s latest choice of exhibitions, activities and more

Member comments

  1. Indicates how far Sweden has come and how much it has benefitted from globalization, the EU and yes, its self-propelled Americanization… When I came to Sweden 20 years ago– “creativity” was considered a bad thing. To call someone “creative” was a veiled insult, which implied they were violating the Jante codes of doing and thinking everything the same as everyone else. And this was in academia– at the universities (where one would have assumed creative thinking was the aim)! The Jante logic still thrives today in smaller towns and industries– and in the government bureaucracy– just scratch the surface.

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PROPERTY

Should you buy a home in Sweden this summer?

Considering the fickle trends in the Swedish housing market, prospective homebuyers might find themselves at a crossroads this summer.

Should you buy a home in Sweden this summer?

After a period of falling prices driven by increased interest rates, the Swedish housing market is seeing a rebound, particularly in the biggest cities.

However, it’s also taking longer to finalise home sales.

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Recent data from Swedish property listings site Hemnet indicates that while home sales – and housing prices – are on the rise, the time to complete transactions has notably increased.

For instance, the average sale time for an apartment in Sweden increased to 27 days in the first half of the year, up from 22 days during the same period last year. Similarly, houses now take an average of 31 days to sell, compared to 30 days previously.

The slowest market is in the Gävleborg region, where it takes an average of 44 days to sell a home. The fastest transactions occur in Stockholm, with apartments selling in just 16 days and detached homes in 23 days.

This variation in market activity across the country calls for a deeper look into where the best opportunities might lie for homebuyers this summer.

Renewed market confidence in Sweden’s biggest cities

The confidence in the Swedish property market is on its way up in Stockholm, Gothenburg, and Malmö, Erik Holmberg, a market analyst at Hemnet, told The Local.

“I would say that we have seen a weaker market in the last couple of years, almost everywhere in the country, since the Swedish central bank started to increase the interest policy rate, which affected the market a lot,” he said.

“But in the last half of the year or rather in the last year, the confidence has come back in bigger cities – in Stockholm, Gothenburg, Malmö… When we look at price developments last year, in three of Sweden’s biggest cities, we see prices increasing again.”

However, the analyst warned that the opposite is currently true in other areas of the country, which have seen a continued decrease in market activity and flatter developments in the same time interval.

A new trend emerging in Stockholm?

As Hemnet’s analyst explained, in Sweden, housing market trends usually start in Stockholm, when the market begins to change, causing a ripple effect.

“And that’s what we have seen. Now, market activity and prices are increasing again in the bigger cities. Usually, when the market changes, other areas in the country follow, and that could be the case now,” said Holmberg.

“When the rates and inflation situation become clearer, other parts of the country might follow the market in the big cities. Our main scenario is that we will see this spread,” he said, adding that prices in Stockholm have picked up quite fast in the last year but that the demand is still affected by the high interest rates.

“I wouldn’t be surprised if we saw swift price developments in some areas with the highest demand, such as city centres.”

The effect on the rental market

Another aspect to consider is the rental market, which could see significant changes in the short to mid-term.

Holmberg pointed out that properties which fail to sell might enter the rental market.

“What we’ve seen is that it’s harder to sell properties today, so, probably, more people who own homes and can’t sell them will put these unsold homes on the market for a while. This could affect the supply of apartments for rent and, in turn, prices,” the analyst said.

INTERVIEW:

What different types of homebuyers should know

For buyers, the current market presents a mixed bag.

“In Sweden, we often talk of having a seller’s or buyer’s market. Today, it’s good for buyers that they have a lot to choose from; there’s a record-high supply almost everywhere in the country. That means it’s easy to find something,” said Holmberg.

However, he also cautioned that the slow market makes agreeing on terms with sellers challenging, with sales times at record highs.

“Sales take some time in today’s market, and that’s important to understand for both sellers and buyers, especially for homeowners who are changing homes, meaning they’re both buying and selling something; it’s a tough market for them.

“Today, this group often chooses to sell their home before they buy something new. That makes up a big part of record high sales times; we have people waiting for the right bid before moving from the selling to the buying side…” Holmberg said, noting that the market is different compared to two to three years ago when it was “very hot”.

“So, remember that even if prices grow, it’s still a tough or slow market.”

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On the other hand, first-time buyers might find a silver lining in the form of lower prices compared to a couple of years ago, making it a potentially favourable time to enter the Swedish housing market.

“First-time buyers are in another situation, which may be better because the prices are lower than two years ago, of course, and if you’re just buying something, you don’t need to worry about the selling part,” Holmberg told The Local.

“That’s why this could be a good situation to enter the housing market this summer, but even so, despite supply being really high, it could still be tough because many sellers have put down a listed price but don’t necessarily plan to sell at this price.”

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