From 2013 to 2019, the Accommodation and Food Services sector in Finland experienced steady growth, culminating in peak employment of 81.4 thousand units in 2019. The decline in 2020 and 2021 was significant, mainly due to the global pandemic impact, followed by a robust recovery by 2022, reaching 77.9 thousand units. In 2023, employment modestly increased to 78.3 thousand units.
Year-on-Year, variation percentages indicate fluctuations with significant events like the pandemic in 2020, which led to a 16.71% decline, followed by a 15.75% rebound in 2022. Recently, growth stabilized, with CAGR showing an average annual growth rate of 0.35% for the forecast period from 2023 to 2028.
Moving forward, the sector's employment is forecasted to grow, reaching 80 thousand units by 2028, with a forecasted 5-year CAGR of 0.35%. This growth signifies a steady recovery and stabilization post-pandemic. Trends to watch include technological integration for operational efficiencies and evolving consumer preferences that could impact employment dynamics in the sector.
