Narvik 2029 secures historic funding

Five regional banks and foundations in Northern Norway are joining forces to contribute a total of NOK 182 million to the 2029 Alpine World Ski Championships in Narvik. This is the largest joint initiative ever undertaken by Northern Norway’s savings bank sector.

Sparebanken Narvik, SpareBank 1 Helgeland, Sparebank 68° Nord, Gildeskål Sparebank and SpareBank 1 Nord-Norge are making the funds available through their community and charitable funds, in keeping with the savings bank model, under which profits are reinvested in local communities.

– This is a historic investment, not only in a sporting event, but in the future of Northern Norway. It is about building infrastructure, creating lasting value and strengthening regional pride, says Paul Carsten Holst, CEO of Sparebanken Narvik.

A world-class World Championship – north of the Arctic Circle

The Alpine World Ski Championships in Narvik will be the first ever to be held north of the Arctic Circle. The championships are expected to reach more than 700 million television viewers worldwide and attract around 150,000 visitors, making them the world’s second-largest winter sports event after the Winter Olympics.

The total economic impact on the region is estimated at more than NOK 1.3 billion through investments, event delivery and tourism. The investments alone are expected to create nearly 450 full-time equivalent jobs.

– Beyond the economic impact, this is about identity, belonging and community. The championship will show what is possible when we stand together in the north, says Hugo Thode Hansen, CEO of Sparebank 68° Nord.

Investment in infrastructure with lasting value

The funds are earmarked for key infrastructure upgrades at Narvikfjellet, including a new chairlift and an expansion of the ski areas. These measures are necessary to meet the requirements of the International Ski and Snowboard Federation (FIS), while also laying the foundation for increased activity, tourism and local use for many years to come.

“This is not just about the World Championships. We are investing in a sustainable, year-round mountain destination for elite athletes, visitors and local families,” says Hanne Nordgaard, CEO of SpareBank 1 Helgeland.

A joint effort for Northern Norway

The investment is the result of increasingly close cooperation between the savings banks of Northern Norway. In early 2025, the banks met in Tromsø to discuss how they could work together to promote regional development, enhance the region’s appeal, and provide essential infrastructure in the north. The financing of Narvik 2029 is one of the first tangible outcomes of this collaboration.

– We believe in this region. As locally rooted, community-owned banks, our profits are reinvested in the communities we serve. When we join forces, we achieve results that make an impact both locally and internationally, says Hanne Karoline Kræmer, CEO of SpareBank 1 Nord-Norge.

A milestone on the road to 2029

For Narvik 2029, the funding represents a decisive breakthrough in the efforts to make the championship a reality. The investment secures the necessary venue developments, strengthens delivery capacity, and helps ensure that Narvik can host a World Championship that sets new standards for international winter sports in the Arctic.