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Nordic countries are renowned globally for their high quality of life, happiness, innovativeness, and education. The Nordic welfare state also provides – perhaps surprisingly – a fertile ground for the development of financial literacy.

The financial literacy of Nordic citizens is among the best in the world. Ownership of stocks and funds is also exceptionally common; for instance, in Finland, nearly half of households are owners. This positive trend is worth celebrating and further strengthening.

Financial literacy is an important civic skill. The more people understand the fundamentals of personal finance, the better choices we can make. Saving and building wealth enable fulfillment of dreams and offer a financial safety net for unexpected circumstances.

Financial ownership among citizens plays a crucial role in the national economy. Household savings fund business investments, and growing wealth bolsters the ability to take on risks essential for financing high-risk innovations. Moreover, a vibrant national capital market draws capital from international sources.

"Broad-based ownership, along with the presence of skilled and risk-taking long-term owners, enhances the efficiency of capital markets while fostering societal stability and resilience," says Samuli Knüpfer, the world's first professor of ownership.