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177.000 jobs in the Nordics lost to counterfeiters!

177.000 jobs! That's more than the population of Uppsala, the "pharma capital" of Sweden!

In a report from early 2023 by the European Centre for Entrepreneurship and Policy Reform (ECEPR), Dr Nima Sanandaji has calculated the impact on the economy from counterfeiting in Sweden, Denmark, Finland and Norway (total population 21.9 mio). The numbers are staggering! 🔵 177 000 jobs lost in total 🔵 16.8 billion € crowded out (lost) 🔵 4.5 billion € of taxes lost – money that could have benefited health care, defense and much more In addition to these three measurable effects, the industries hit are those that create more value than the average – 21% more across the four countries, up to 45% more in Denmark! Those industries are engines of growth and innovation, representing 35% of all private sector jobs. As counterfeiters de facto steal the fruits of investments in innovation, counterfeiting dampens the incentives to invest and innovate. “Why put time, money and passion into developing something when copies will appear within days?” This effect hits hardest against small businesses, with smaller resources to protect brands and trademarks, and to fight counterfeiters in courts. Guess which business create the greatest numbers of new jobs? The industries hit the hardest by counterfeiters are: 1️⃣ KNOWLEDGE-INTENSIVE INDUSTRIES – Manufacturing from pharma to automotive, furniture and food. 2️⃣ FASHION – design and manufacture 3️⃣ ICT COMPANIES – hardware, software and services 4️⃣ TRADEMARK-DEPENDENT TRADE – wholesale and retail trade, transport by air and sea 5️⃣ MEDIA COMPANIES – print, film, broadcasting and gaming 6️⃣ KNOWLEDGE-INTENSIVE SERVICES – Information, scientific R&D, marketing services and research, travel, leasing and office admin. As our isAuthentic does product authentication for physical products, the three first industries in the list can benefit directly from using it. 🔵 You find the entire report here (in English and Swedish): https://bit.ly/3knlFp6 🔵 The topic was covered in Expressen on 16 February 2023 in by Dr Sanandaji of ECEPR and Sara Lindbäck of Rättighetsalliansen: https://bit.ly/3It8Hhu (In Swedish only)

177.000 jobs! That's more than the population of Uppsala, the "pharma capital" of Sweden!      In a report from early 2023 by the European Centre for Entrepreneurship and Policy Reform (ECEPR), Dr Nima Sanandaji has calculated the impact on the economy from counterfeiting in Sweden, Denmark, Finland and Norway (total population 21.9 mio).    The numbers are staggering!  🔵 177 000 jobs lost in total  🔵 16.8 billion € crowded out (lost)  🔵 4.5 billion € of taxes lost – money that could have benefited health care, defense and much more    In addition to these three measurable effects, the industries hit are those that create more value than the average – 21% more across the four countries, up to 45% more in Denmark!    Those industries are engines of growth and innovation, representing 35% of all private sector jobs.    As counterfeiters de facto steal the fruits of investments in innovation, counterfeiting dampens the incentives to invest and innovate.    “Why put time, money and passion into developing something when copies will appear within days?”    This effect hits hardest against small businesses, with smaller resources to protect brands and trademarks, and to fight counterfeiters in courts. Guess which business create the greatest numbers of new jobs?
Counterfeiters impact all kinds of jobs across all kinds of industries

Image by Kenny Eliason via Unsplash

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