Scandinavian countries ideally combine a free market economy with extensive social security, a high quality of life, and a minimal gap between rich and poor. Thanks largely to this, according to the March 20 UN World Happiness Report, Finland, Denmark, Sweden and Norway are in the top ten on the list of the happiest countries in the world, where 156 countries are represented.

According to such authoritative publications as Intelligence Unit, Mercer and Monocle, the Danish capital Copenhagen is in the top 10 best cities to live in the world. And according to the Institute for Economics and Peace, Denmark is one of the safest countries. About prices, taxes, employment, wages, education, medicine, pros and cons of living in Denmark in 2024 we will talk further.

Living in Denmark

Pros and cons of living in Denmark

The population of Denmark is about 5.9 million people, and about 87% are ethnic Danes. Among the persons of foreign origin there are mostly Poles, Turks, Albanians, Germans, Romanians, and natives of Syria, Iraq, Somalia, Iran and Afghanistan. Let's allocate positive and negative sides of living in Denmark.

Pros of living in Denmark

  • Denmark is one of the ten richest countries in Europe. Accordingly, the standard of living here is very high.

  • According to the ranking of the agency Doing Business Denmark takes the third place among 190 countries of the world on the availability of starting and doing business, and the first among European countries.

  • Bureaucracy in Denmark is at a minimal level, and corruption and criminality are virtually absent.

  • Transparent tax, legal and judicial system.

  • The perfect infrastructure and a strong economy, focused on high technology.

  • In general, the Danes are open and friendly people, most of whom are fluent in English.

  • Beautiful nature and clean air.

Pros and cons of living in Denmark

Cons of living in Denmark

  • Denmark is one of the most expensive countries in the world.

  • High taxes.

  • Because of the influx of refugees from the Middle East in recent years, some Danish citizens are not very friendly to all immigrants.

  • Long and rainy/snowy winters.

  • Hard to find good and affordable housing.

Prices and cost of living in Denmark

Despite all the advantages, living in Denmark is very expensive. This applies both to the prices of food and everyday expenses, as well as the cost of real estate and other material goods, such as cars. Among other reasons, 86% of Danes prefer to move around the city by bicycles.

Renting a studio apartment in Denmark in the central part of the city will cost about 7,705 kroner (1,035 euros) per month, and in remote areas about 5,490 kroner (735 euros). The price per square meter of real estate in the center is 37,765 kroner (5,070 euros), and 26,655 kroner (3,580 euros) outside the city.

Prices in Denmark in 2024

  • Bread (500 gr) – 21.79 kr

  • Milk (0.6 liters) – 13.55 kr

  • Eggs (12 eggs) – 30.96 kr

  • Chicken Fillets (1 kg) – 76.31 kr

  • Potatoes (1 kg) – 13.44 kr

  • Danish cheese (1 kg) – 84.59 kr

  • Bananas (1 kg) – 20.95 kr

  • Apples (1 kg) – 20.64 kr

  • Petrol (1 liter) – 14.46 kr

  • Cab (1 km) – 15 kr

  • Public transport – 24 kr

  • Monthly bus pass – 600 kr

  • Utilities (85 sq. m.) – 1,533.66 kr per month

  • Mobile Tariff Local (month) – 132.41 kr

  • Internet – 251.33 kr per month

Note. Prices are quoted in local currency – Danish kroner (kr). Exchange rate of 1 kr today is 0.15 US dollar and 0.13 euro.

Taxes in Denmark

Taxes in Denmark

Tax rates in Denmark are among the highest in the world. Nevertheless, locals enjoy various social benefits, including free education and medicine. Taxes are levied at the state and municipal level.

Tax rates in Denmark in 2024

Corporate income tax – 22%

VAT – 25% and a preferential rate of 0% (newspapers, magazines; domestic and international transportation).

Dividends – 25% for companies and 27% for individuals if the amount does not exceed 58,900 Danish kroner, and 42% in excess.

Real estate tax – 0.92% (value up to 3,040,000 kroner) and 3% (value over 3,040,000 kroner).

Income tax – a progressive rate of 52.07%.

Income tax structure:

  • State taxes – 12.1% (prime rate) and 15% if annual income is above 588,900 kroner

  • Municipal taxes – 25.067% (average)

  • Labor market tax – 8%

The maximum combined rate of income tax in Denmark may not exceed 52.07%. State duties on passenger cars reach 25% for a vehicle costing up to 65,800 kroner, 85% for a vehicle costing between 65,801 kroner and 204,600 kroner and 150% in the case of excess.

Jobs and wages in Denmark

Denmark has a very strong labor market with predominantly skilled workers, good employment conditions and high wages. Unemployment in the country does not exceed 3-5%, but the competition with locals and Europeans here is enormous. Applicants from the third countries in order to go to work in Copenhagen or in another city, it is best to use a special program, for example, The Positive List and The Pay Limit. The most deficit professions in Denmark are engineers, doctors and programmers.

Legal employment in Denmark practically guarantees a decent wage to the employee. There is no official minimum level in the country, but in general the rate is about 110 kronor per hour (14.5 euros) or a little over 2,000 euros per month. According to the local statistics office, the average wage in Denmark in 2024 is 38,900 kroner per month before taxes, the equivalent of 5,200 euros. After all deductions, that leaves about 3,100 euros.

Higher education in Denmark

Higher education in Denmark

The system of higher education in Denmark combines traditional academic teaching and modern methods of teaching, which develop critical thinking and decision-making abilities of students. On the territory of the state there are 8 classical universities, 7 university colleges, 9 Business Academies, as well as Maritime and Artistic Higher Education Institutions.

In the top 400 of the annual QS World University Rankings 2024 there are 5 Danish higher education institutions. The best are considered to be Copenhagen and Aarhus Universities, as well as the Technical University of Denmark. More than 700 educational programs are presented mainly in Danish, but also in English and German. An average cost of studying is from 6,000 to 16,000 euros a year.

Medicine in Denmark

Health care system in Denmark is mostly financed by taxes, and local population has universal direct access to medical services. General practitioners are attended free of charge and in case of need they give referrals for further check-ups by other specialists or hospitalization. Up to 98% of Danish hospitals are public.

Emergency care, rehabilitation, home care, school health services and children's dentistry are all free of charge. Patients in Denmark pay about 17% of total health care costs. This applies mainly to prescription drugs and adult dentistry. About 65% of Danes use private insurance as a supplement.

In conclusion, the average life expectancy at birth in Denmark in 2024 is 80 years, with men living about 77 years and women 82.

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