Retail Savings and Investments in Sweden - Coronavirus (COVID-19) Sector Impact
Summary The Coronavirus (SARS-CoV-2) outbreak, dubbed COVID-19, is first and foremost a human tragedy, affecting millions of people globally. The contagious Coronavirus, which broke out at the close of 2019, has led to a medical emergency across the world, with the World Health Organization officially declaring the novel Coronavirus a pandemic on March 11, 2020.
Fears surrounding the impact of COVID-19 have already significantly impacted the global economy, with most of the countries across the world registering declines in their economic growth for the year to date. Many economists and institutions have cut their forecasts and many experts are predicting the onset of recessionary environments.
So far Sweden has been able to avoid a recession.The government’s unique approach - which unlike many nations did not include a lockdown - helped reduce the impact of the pandemic, with the country anticipating a gradual recovery in the second half of 2020.
Any economic revival will benefit the retail savings and investments industry.
This report focuses on the impact of the coronavirus outbreak on the Swedish economy and the country’s retail savings and investment market.It also highlights the measures adopted by the government to combat COVID-19.
Based on our proprietary datasets, the snap shot contrasts pre-COVID-19 forecasts and revised forecasts of total retail bond, deposits, equities and mutual funds holdings in terms of value and growth rates. It also analyses the effects on HNW wealth, examining the importance of different industries as a contributor to HNW wealth.
Scope - The Swedish retail investment mix is well diversified compared to many other markets. Higher allocations in equities and mutual funds allows for a dynamic market in normal conditions, but also means it will contract more than even some hard-hit markets in Southern Europe. While the country’s flagship index, OMX Stockholm 30, lost 18.0% of its value from the beginning of the year to March, the index has continued its positive trend since April on the back of a “no lockdown” policy in Sweden that prevented economic activity from halting. Yet uncertainties remain due to the country’s tight links to the rest of Europe and fears that cases are spiking again.
- Deposits are expected to the be sole beneficiary of the crisis, with Swedes modestly increasing the rate at which they save into these low-earning but safe products. According to Eurostat, Sweden’s household savings rate stood at 20.25% in Q1 2020 - up from 11.65% in Q4 2019.
- With recovery from the COVID-19-induced recession expected to be well underway in 2021, there will also be a rally in the value of Swedish retail investors’ holdings.
- An uncertain macroeconomic environment is changing the face of the HNW investment landscape, with sectors such as health and tech expected to power forward while wealth connected to retail and manufacturing will lag behind.
- Swedish HNW individuals have made their fortunes predominantly through earned income, with entrepreneurship a close second. Sweden’s world-class startup ecosystem, which is becoming an important driver for wealth creation, should be relatively unscathed by the crisis. However, wealth mangers could do more to target these key sources of growth.
Reasons to Buy - Make strategic decisions using top-level revised forecast data on the Swedish retail savings and investments industry.
- Understand the key market trends, challenges, and opportunities in the Swedish retail savings and investments industry.
- Receive a comprehensive insight into the retail liquid asset holdings in Sweden, including deposits, mutual funds, equities, and bonds.
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