There is plenty of willingness to invest in Northern Norway and Svalbard. We have identified 813 projects that together with residential investment represent NOK 742.6 billion of investment over the coming eight years (2018–2026).
Published November 15th 2018
This investment survey gives an overview of planned investments in Northern Norway up to and including the year 2026. The survey includes both confirmed and planned projects. Around 46 percent of the investment projects have either already been started or are fully financed/confirmed.
The survey is carried out for us each year for the Business Cycle Barometer for Northern Norway, by Bedriftskompetanse AS and Menon Economics AS. This is the fifth annual edition.Next edition is due November 2019.
The survey is extensive and detailed. This year we have included 813 investment projects in the region, as well as estimated investment in the housing and municipal sectors. Nevertheless, there are large numbers of business investments that don’t get included. In our experience, they are all small projects that don’t have a big impact on the overall figures.
The survey particularly identifies public investment, but in some areas a large proportion of private investment is also covered. New this year is that we have used data from the Norwegian Water Resources and Energy Directorate (NVE) on licenses awarded to estimate investment in wind farms and hydroelectric power. Information about public investments is taken from central government, county and municipal investment budgets.
The level of investment identified by the survey has only varied slightly over the period 2015–2018, with the exception of 2016, when a complete review was carried out of expected oil and gas investments in the Barents Sea, leading to their inclusion in the survey. Estimated residential investment fell slightly from 2017 to 2018 after several years when there were many development projects. Conversely, investment in public buildings and electric power is growing.