Copenhagen is the capital and largest city of Denmark. Copenhagen is the economical and financial centre of Denmark and also a strong business and economic centre in the Scandinavian-Baltic region. Denmark is in Northern Europe, bordering the Baltic Sea and the North Sea, on a peninsula north of Germany (Jutland); also includes two major islands (Sjaelland and Fyn). The climate is temperate, humid and overcast with mild, windy winters and cool summers. The official language is Danish. It is closely related to Swedish and Norwegian. Most Danes speak good English, while some speak other Western European languages such as German, French and Spanish. The main religion is Christianity. The economy of Denmark is a mixed economy with very few natural resources that relies almost entirely on human resources. The service sector makes up the vast amount of the employment and economy. Its industrialized market economy depends on imported raw materials and foreign trade. Danes are overwhelmingly egalitarian and tolerant, however, a small segment of society is opposed to immigration. There is therefore a slight possibility that expatriates from ethnic minority groups may encounter offhand or unfriendly service in hotels and retail outlets. Expatriate business dress is generally conservative. Men traditionally wear dark suits and women either dresses or skirts and blouses. The security risk for expatriates in Copenhagen is low. Risks include some petty crime in crowded areas, as well as the threat of terrorism. The currency of Denmark is the Danish Krone (DKK). Banking is on a par with that of Western Europe and North America. The standard of healthcare in Denmark is good, however costs of treatment for expatriates from outside the EU can be high. The population of Copenhagen is 1.3 Million (Urban) (2018 est.), while the inflation rate (CPI) is 1.1% for Denmark as at June 2018. For a single Expat, the personal income tax rate in Denmark is progressive up to 48% (8% + 15%+25%). Note: All income from employment or self-employment is taxed at 8% before income tax. In addition state income tax has two income brackets base (11.15%) and top (15%). There is also Municipal tax which averages 25%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Copenhagen, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Copenhagen as at 1 July 2018 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: High 2) Clothing: Very High 3) Communication: Low 4) Education: Very High 5) Furniture & Appliances: Very High 6) Groceries: Very High 7) Healthcare: Very High 8) Household Accommodation: Very High 9) Miscellaneous: Very High 10) Personal Care: Very High 11) Recreation & Culture: Very High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Very High Copenhagen is for example 70.1% more expensive than Houston TX for groceries, 66.3% more expensive for household costs than Kuala Lumpur, and 118.5% more expensive for transport costs than Dubai. The hardship premium for Copenhagen for an expat from Perth, is for example 0%, i.e. host location (Copenhagen) premium of 10% minus home (Perth) location premium of 10%. Copenhagen is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Copenhagen? Register subscribe to your home location and Copenhagen and run your personalised reports.