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Travel and Tourism in Finland to 2019

  • November 2015
  • -
  • GlobalData
  • -
  • 112 pages

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Summary
With the increase in the aging population, the domestic spending is expected to grow as compared to the outbound spending. The total number of inbound trips plunged in 2014 as the arrivals from Russia, its largest source market, fell due to the sanctions and the depreciation of the ruble against the US dollar. Outbound trips grew at a CAGR of 8.68% during the historic period and most of the trips are to the neighbouring countries including Estonia and Sweden.

Key Findings
- Finland's travel and tourism sector depicted growth during the historic period (2009-2014), supported by a rise in international arrivals. However, in 2014, the number of arrivals from Russia declined as compared to the previous year due to the western sanctions imposed on it. The total number of tourist arrivals in Finland is expected to reach 4.8 million by 2019. Moreover, domestic tourist volumes fell at a CAGR of -1.44%, while domestic tourist expenditure increased at a CAGR of 2.54%. The ongoing crisis in the Finnish economy was one of the major factors adversely affecting the domestic and outbound trips in the recent years. The number of departures reached 8.8 million by 2014. Canadean expects the volume of outbound tourists from Finland to rise at a forecast period CAGR of 3.61%, to reach 10.6 million by 2019.

- In 2015, ITB Asia, the 'Trade Show for the Asian Travel Market', named Finland to be its partner country for the 2016 show. ITB Asia is considered to be one of the best meeting hubs for travel industry leaders which acts as a platform for building contacts and conducting businesses. With this partnership, VisitFinland (Finnish Tourism Board) aims to launch a new Stopover Finland programme, in collaboration with Finnair. The motive behind this programme is to showcase Finland as a stopover destination for passengers travelling via Helsinki airport by building attractive packages from hours to several days. Several packages and services such as accommodation will be provided to these passengers. This initiative will be first launched for tourists from Mainland China, Hong Kong, Japan and South Korea during ITB Asia in 2016.

- In 2014, a rise in the number of passengers travelling through sea on the Helsinki (Finland) - Tallinn (Estonia) route was recorded. Considering the fact that Estonia is one of the prime destination markets, Viking Line, a Finnish shipping company provided its services again during the summer season in 2015.

Synopsis
Canadean's report - Travel and Tourism in Finland to 2019 - provides detailed information on the country's tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

- Historic and forecast tourist volumes covering the entire Finland Travel and Tourism sector

- Detailed analysis of tourist spending patterns for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others

- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound, and outbound tourism, with analysis using similar metrics

- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers

Reasons To Buy
- Make strategic business decisions using historic and forecast market data related to Finland's Travel and Tourism sector

- Understand the demand-side dynamics within the industry to identify key market trends and growth opportunities

- Direct the promotional efforts on most promising markets by identifying the key source and destination countries

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