The travel agency and tour operator sector in Finland has experienced significant fluctuations from 2013 to 2023. Starting from a high point in 2013, a gradual decline was observed in the following years until a slight increase in 2017. The sector continued to improve, reaching a peak in 2018, but was severely impacted by the COVID-19 pandemic in 2020 and 2021, with drastic declines of -57.36% and -37.05% respectively. The recovery began in 2022 with a substantial jump of 156.64%, and a stabilization phase in 2023 with a modest growth of 1.03%. The industry's output in 2023 stood at 586 Million Euros.
Looking ahead, the forecasted data suggest a gradual recovery and steady growth for this sector. From 2024 to 2028, the output is expected to grow moderately with a Compound Annual Growth Rate (CAGR) of 0.99%, which translates to a total growth of 5.06% over these five years. The value is predicted to increase consistently, reaching 623 Million Euros by 2028.
Key trends to watch for include the adaptation to new consumer behaviors and preferences post-pandemic, increased digitalization, and the potential impact of economic fluctuations and geopolitical events on travel demand. Focus on sustainable tourism and personalized travel experiences may also shape the industry's growth trajectory.