Fall in Norwegian krone drives national 35% production cost drop
This winter is a cost-effective time to shoot in Norway as the Norwegian krone has fallen to its weakest position in more than a decade. One British pound now gives you 11.5 krone, up 35% from 8.5 krone two years ago.
“UK, European and US producers will now get up to 35% more bang for their buck than they did in 2013,” says Sigmund Elias Holm at Western Norway Film Commission: “We hope the industry takes notice and we welcome producers to take a closer look at what Norway offers.”
A downturn in oil prices is behind the currency decline. The US dollar has taken a similar journey and increased its value by 35%, from 5.45 to 7.35 krone. The euro now gives you 9.15 krone, up 25% from 7.28 kroner two years ago.
Norway's spectacular landscape, with its fjords, mountains, glaciers, and scenic roads, has been its major draw for international producers. The country features prominently in the upcoming feature film Ex Machina from Alex Garland, and has in the last few months hosted major commercials from top brands such as Toyota, Marriott and J.Crew shooting on the iconic Atlantic Bridge, the Folgefonna Glacier and the Hardangerfjord.
“The lower value of the currency adds to Norway's appeal as a filming location,” says Holm: “In addition to the currency and a wide variety of locations, Norway has a lot going for it. Now, prices for equipment, crew and accommodation is on par with the rest of Europe.
Norwegian crews are budget-minded and efficient, they can turn on a dime and are used to working on international sets. Shooting in Norway is a hassle-free experience - everyone speaks English, and from the mayor to the local residents, everyone welcomes film productions.”
It is also widely believed that the Norwegian government will propose a filming incentive to the parliament in 2015. “We know that the government is eager to ensure that Norway becomes more competitive as a venue for international filmmaking. We hope the government will address this in the first half of 2015, but we have to wait and see,” Holm concludes.
To find out more click here.
(Dogsled photo: Loopfilm; Mountaineer photo: Frost Media)
Not Logged in
You must be logged in to post a comment
There are no comments