In this report, Menon has assessed the market development for floating and bottom-fixed offshore wind, as well as the long-term revenue potential of the Norwegian offshore wind industry. The report is an update of Menon’s floating offshore wind analysis from 2022, but also includes analyses of the market for bottom-fixed offshore wind. The analysis is conducted on behalf of Norwegian Offshore Wind, Offshore Norge, Innovation Norway and Export Finance Norway.

On behalf of the American Chamber of Commerce, Menon Economics has analyzed US companies’ investments and activities in Norway. The report provides a full overview of US companies in Norway, and their activity over the last years, including their contribution to employment and value creation. The US is one of Norway’s closest and most important allies, a bond that is further strengthened through excellent business relations and economic partnerships.

On behalf of the Norwegian Embassy in Mexico, Menon Economics has conducted a study on Mexican-Norwegian trade relations and opportunities available to Norwegian companies in the Mexican market. The report offers a detailed overview of bilateral trade between Norway and Mexico, as well as an assessment of sectors with substantial potential for Norwegian enterprises in Mexico

Menon Economics has for nine consecutive years studied the competitiveness of the Blue Maritime cluster, measured by key economic performance, both in absolute terms and compared to the rest of the maritime industry in Norway. In this year’s report, we take a closer look at how maritime companies work to attract, develop, and retain talent within the cluster.

This report is conducted by Menon Economics on request by Fisheries Iceland (SFS). The objective is to deepen the understanding of how the recently proposed tax system reform in Iceland will affect the aquaculture industry. The analytical framework and technical models used in this report rests extensively on an analysis we conducted in December 2023 (Menon-report 8/2024 Taxation of Aquaculture in Iceland). This report can be seen as an extension of the work summarized in the former report.

This report is conducted by Menon Economics on request by Fisheries Iceland (SFS). The objective is to deepen the understanding of how the recently proposed tax system reform in Iceland will affect the aquaculture industry, both in terms of revenues, value added and international competitiveness. The report presents a model that allows the reader to compare how the proposed tax structure affects the industry comparing the effects of alternatively applying the existing (current) tax structure in Iceland, a Norwegian tax model and the tax model of the Faroe Islands. The study considers all relevant aspects of the tax systems in each country, allowing comparisons to be as complete as possible.

On behalf of Renewables Norway, Menon has written a white paper on the role of floating offshore wind in the European transition, the main barriers facing the industry at its current stage, and how support mechanisms need to be designed in order to address these barriers.

The LMC report is a collaborative effort between Menon Economics and the classification society DNV. More than 15,000 cities are benchmarked on 45 different indicators. 190 maritime experts from all over the world have contributed with their subjective assessments of the cities. For the 2024 report, we have refined our objective and subjective indicators by incorporating recent key trends in the sector, such as the green transition. As before, we benchmark each maritime city based on five key pillars:

• Shipping centres
• Maritime Finance & Law
• Maritime Technology
• Ports & Logistics
• Attractiveness & Competitiveness

Singapore has a strong performance across the five pillars and keeps its number one spot overall, followed by Rotterdam, London, Shanghai and Oslo.

Menon has for the fourth consecutive year developed a knowledge base about Norwegian exports, namely the Export Report 2024. The discussion about Norwegian export often suffers from misunderstandings. This relates to how much Norway exports, who we export to and why export is so important for Norway and the Norwegian economy. The Export Report aims to create a factual, objective, and analytical foundation to contribute to a fact-based Norwegian export debate. We do this by reviewing how the development of Norwegian exports has been since 2000, what we export, who we export to, and which Norwegian regions that export the most.

In this year’s report, we have three different special topics. The first is Norway’s green export today and the export opportunities that exist. The second highlights the importance of Norwegian service exports, and the third focuses on the significance of cornerstone companies. In addition, in this year’s report, we have updated the key performance indicators (KPIs) we developed in last year’s report, to further assess the effect of the national export initiative.