Competition in Sweden is functioning well, but there are some deficiencies, mainly in the construction industry and the banking sector. These are among the findings of the report ”Competition in Sweden 2018,” which the Swedish Competition Authority is presenting to the government today. The report also contains descriptions of developments on several other markets, including pharmaceuticals, dentistry, packages, taxi, television and groceries.
The overall assessment in the report is that competition in Sweden is functioning well, with the exception of the construction industry and the banking sector. To promote competition in the construction industry, municipalities should demand that allotted plots of land are built on within a reasonable time. On the financial market, it is important to make is easier for consumers to buy services from several different banks and other actors.
Increasing digitalisation and efforts toward a more circular economy bring about large advantages for competition. Digitalisation tears down geographic boundaries to the benefit of consumers, and the circular economy contributes to increased resource efficiency. But there are concerns on the horizon, for instance in the form of the large amounts of consumer data held by the platform market. The rules on consumer and data protection must keep in step with this development.
At the intersection between digitalisation and the circular economy, new concepts will emerge and affect consumers and companies. Digitalisation lends support to the circular economy by facilitating efficient exchange and usage of resources, not least in the growing sharing market.
The report emphasizes that competition implies the ability to choose. An effective market has active, critical and well-informed consumers. If consumers do not have the option of making a choice, are not capable of making a choice or do not want to make a choice, the positive effects of competition may be lost.
– With functioning competition, the conditions improve for consumers to make active choices. This in turn drives the development of new products and services that meet current and future demands, says the Director General of the Swedish Competition Authority, Rikard Jermsten.
For further information, please contact:
Karin Lunning, Head of Communications, tel. +46 (0)8 700 16 42
Björn Axelsson, Project manager, tel, +46 (0)8 700 15 47