July 14th, 2015

wink

Too much wealth?


Norway's wealth is probably nowhere near being as opulent and in-your-face like that in Beverley Hills or Monaco, but on the other hand its prosperity can be sensed in every corner. There are brand new cars around the Norwegian cities, and luxurious boats in the yacht ports. Let alone the second (and third) holiday houses that the average Norwegian has by the stunning seaside or in the gorgeous mountains (or both; or simultaneously - after all, sea and mountain are never too far away from each other in Norway). There's been a joke that all Norwegians are theoretically millionaires.

The money for all this is coming mostly from the state-run oil fund, where the revenue from oil and gas production is collected. It's thanks to those gargantuan resources and its small population that Norway has been able to afford investing massively into its future generations. The profit from its oil production also sustains the world's largest pension fund.

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