A recently published report by the Nordic Council of Ministers, Analysis of Competitiveness in a Nordic Perspective, confirms many of these strengths. The Nordic countries perform well across a range of economic and social indicators, supported by strong human capital, well-functioning institutions and high labour market participation, including among women.
But an important question remains: Will the strengths that have served the Nordic countries so well in the past be sufficient to prepare us for the future?
From Nordic strengths to future readiness
The systematic exploration of possible futures, commonly referred to as strategic foresight, is increasingly important in a world characterised by technological transformation, geopolitical uncertainty, climate change and shifting economic conditions.
While foresight is practised across the Nordic countries, its application varies between countries, sectors and organisations. Traditionally, much attention has been directed towards economic forecasting and public policy. Yet futures thinking has an equally important role in business strategy, innovation and organisational development.
Scenario planning and other foresight methods can help organisations explore uncertainty; challenge established assumptions and identify emerging opportunities. They are particularly valuable in the early stages of innovation, when ideas are still developing and uncertainty is greatest.
Building a Nordic futures culture
At a recent seminar in Reykjavík, organise by Stjórnvísi, participants discussed how the priorities, competencies and skills required of future business leaders may change.
A recurring theme was the need for leadership and organisational cultures to evolve in an environment where change is constant. Future-oriented thinking should not be limited to occasional strategic exercises. It needs to become part of everyday decision-making.
This raises an interesting question about Nordic culture itself.
Our societies have developed considerable strengths through stability, trust and established ways of working together. But could these same strengths sometimes make us too comfortable with existing structures and assumptions?
A strong futures culture requires not only the ability to cooperate but also the willingness to challenge conventional thinking, explore alternative futures and remain open to unexpected developments.
From competitiveness to collective foresight
In a recent address to the Nordic Council, Finnish President Alexander Stubb emphasised that trust, shared values and a long tradition of cooperation provide the Nordic countries with an important advantage.
However, he also stressed that these strengths must be translated into concrete action.
One example he highlighted was Nordic Compass, an industry-led initiative bringing together leading Nordic companies and foundations to strengthen competitiveness, investment, technological development and resilience.
Such initiatives demonstrate the potential of Nordic cooperation in responding to economic and technological challenges.
But they also raise a further question: How can we ensure that our collective ability to anticipate change develops alongside our investments in innovation and competitiveness?
The concept of the Global North, recently discussed by fellow contributor Minna Koskelo in connection with President Stubb's reflections on the changing world order, offers another perspective.
If the Nordic region is to strengthen its position in an increasingly uncertain world, its competitive advantage may depend not only on economic resources, technology and institutional stability, but also on its ability to imagine and prepare for different futures.
What next?
The Nordic countries have built a strong foundation for cooperation, innovation and social development. The next step should be to strengthen our collective capacity to anticipate, understand and shape change.
This requires us to:
Strengthen futures literacy among politicians, executives and other leaders, enabling them to explore uncertainty and integrate long-term perspectives into decision-making.
Introduce futures literacy at different levels of education, helping students develop the ability to think critically and creatively about possible futures.
Expand education and practical training in futures studies and strategic foresight, making these approaches more accessible to businesses, public institutions and civil society.
Strengthen Nordic and international cooperation in foresight, sharing methods, experiences and future-oriented initiatives across countries and sectors.
The Nordic countries already possess many of the qualities needed to succeed in an uncertain world: trust, education, cooperation and adaptability.
But these strengths should not simply be preserved. They should be developed further.
Perhaps the next Nordic advantage will not only be our ability to respond to change, but our collective capacity to imagine and shape the futures we want to create.
The Nordic Foresight Network is a network of foresight professionals advancing futures thinking across the Nordic region.
The Nordic Foresight Column is a monthly series by Nordic Foresight Network in which foresight professionals from the five Nordic countries examine the shifts shaping the region.
Previously in the series: Who will build the next shared vision? by Johan Hammarlund
