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!

In addition to being wealthy, Norway is INSANELY beautiful. Travelling the country from point to point in spring felt like moving through a fairytale land, I'm not kidding. The deep fjord valleys, massive snow covered mountains, dense forests, lush green prairies, crystal-clear rivers, thousands of waterfalls... It's hard to imagine a prettier landscape to me. And most of it is practically untouched by the human hand, with just a few colourful wooden-house villages scattered here and there. Being born in Norway must be like winning lottery on so many levels...

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.

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

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

“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.

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!

Fun fact, no civilian in Norway get anything from the "Oil money". Norway is the world richest poor country in the world. Only people that gets any benefits from the Oil is banks that are investing for the government (and never invest in its country) and people that work close to the Oil Companies. Who pays for the everything in Norway, exactly what the banks wants, the taxpayers. Kids doesnt even get food in their school, many kids and old people are homeless depressed and on drugs. Last economic crisis many lost their job, Norway had the money to save all jobs, did they. Nope. Norway will never see these money its hijacked by the Norwegian (Centralbank). Ill give u an other example, why did the banks up the interest rate in Norway? and all prices went up 30%, electricity dubbel, people that have loans has to pay more. It wasnt necessary because the State could stop it instant and also pay their country loan in an instant. But nope Norway is in depth and the depth dubbels almost every year. So where is the money. I can tell u one thing, ive lived in Norway 25 years and havent seen any oil money invested in Norway. People are still out of jobs, poor and struggle. Pension hasnt changed, tax is still the same (one of the highest in the world) no change to schools or any investing in living buildings for students and normal people. Im always looking at Therese videos about Norway beeing so rich... And im looking out my Window... And wonder what fantasy story people are talking about.