Why Norway is Becoming the World's Richest Country

FUN FACT: The former king of Norway Olav V was immensely popular because he ruled by example, earning him the nickname "the People's King." When driving was restricted due to the 1973 oil crisis, the king, who legally could've driven, took public transport carrying his skiing gear on his shoulders. When the media asked him how he could even dare to go outside without bodyguards, he responded by saying "I have four million bodyguards," referring to the population of Norway at the time.

Norway is the country which won the lottery but kept the normal job

I'm a Norwegian and this is a very good summary of Norway's economic history. Finally, a summary that got it right.

Basically, Norway's prosperity comes down to long term planning... which is a cultural trait probably evolved over millenia as consequence to its harsh winter weather: basically, in such a climate, if you don't plan for winter, when winter comes, you die... same if you don´t help each-other when conditions get bad... so instead of spending it all now and "hoping for the best" regarding the future as so many countries do, Norway has always planned for the future, and never got its head turned by any "lottery wins"... like a person using their winning at a lottery to invest in their future as opposed to partying, buying expensive cars and so on

as a Norwegian, a 40 min video of about how good we are was very entertaining

Its not actually hydropower, its mountain trolls on spinning bikes

I am not Norwegian but I live here in this country. It is not all perfect but this is a country close to being perfect. I may not be Norwegian but I definitely am proud to defend this land that I now call my home. I would never ever dare say anything bad about this country. This country and its people have given me hope and a clear vision to which path I should take. Eventually the purpose of my existence. That in itself is something good to wake up everyday for.

It's been 6 minutes since playing this and I'm overwhelmed with the sheer amount of information packed into this video so far.

It's not all glamour. In 2011 we experienced a butter shortage. We sorted it out, thankfully. It's difficult for me to talk about.

Norway is a rare case of an oil state not completely squandering the money

This is one of the best YouTube documentaries I’ve ever seen. A lot of work went in to this. Well done!

This was a fantastic tutorial on the topic - fast-moving, dense with information and incredibly educational and informative! Many thanks!!!

the day i watch a reallifelore video without the word vast is the day the world ends

As a Brit, it’s depressing to hear how a countries leaders had such amazing foresight to ensure their countries prosperity for decades to come. Unlike my countries leaders who have only ensured a death by a 1000 cuts for the UK.

My kind of content, as rich in information as norway in resources! You've earned my sub👍

Fantastic and detailed overview of Norway's economy and natural resources and wise planning. Great job in visual design and communication by go bal data comparisons! You are my new hero in data visualization and educational communications!

“kinetic energy just sitting there” is a funny phrase.

You did start out very nicely by showing how our fjords and coastline meant sea transport was crucial. The very best way to illustrate this is to look at our road numbering system: It starts at 2! This is a silent acknowledgment that the sea has always been #1, i.e. our main highway.

Thank goodness you brought this up! Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 10 grand weekly and this has improved my financial life. Great piece!..

Fun fact: The "Volvo Deal" was almost a reality, where Norway offered Volvo 40% stake in exchange for oil rights in the 70s. Only one of the offered areas had gas; none had oil. Rejected by Volvo's shareholders for undervaluing Volvo and overestimating Norwegian oil. Fast forward, Norway's oil wealth soared, now having a $1 trillion sovereign wealth fund, while Volvo was bought by Geely in 2010.