In 2000, Sweden experienced a period of robust economic growth, marking the start of a prosperous decade. The country had successfully transitioned from the economic challenges of the early 1990s, when it faced a financial crisis, to a more stable and dynamic economy. Key factors contributing to this growth included Sweden’s strong welfare state, high levels of innovation, and a booming tech sector, with companies like Ericsson and Spotify emerging as global leaders.
Sweden’s economic model, combining a market economy with extensive social welfare programs, continued to serve as a foundation for this prosperity. The nation benefited from a highly educated workforce, strong exports, and progressive policies that supported sustainability and green technologies. The economic stability of this period also strengthened Sweden's position within the European Union, which it had joined in 1995, while maintaining its independent currency, the Swedish krona.