Forecast: Value Added of Accommodation and Food Services in Finland

The value added of accommodation and food services in Finland has experienced significant fluctuations over the past decade. Starting from 2.79 billion Euros in 2013, the sector saw a steady rise until 2019, peaking at 3.88 billion Euros. However, there was a sharp decline in 2020 due to the COVID-19 pandemic, bringing the value down to 2.75 billion Euros. The sector began to recover in 2022 with a notable increase to 3.76 billion Euros. By 2023, the value stood at 4.12 billion Euros, reflecting a strong recovery with a year-on-year growth rate of 9.33% and a CAGR of 2.39% over the last five years.

Looking forward, the forecast for the next five years suggests a continued upward trend, with the value expected to reach 4.68 billion Euros by 2028. This translates to an average annual growth rate (CAGR) of 2.02%, indicating steady yet moderate growth in the sector.

Future trends to watch for include the impact of digitalization and automation in service delivery, changing consumer preferences towards sustainable and health-focused options, and potential economic fluctuations that may influence consumer spending in the accommodation and food services sector.