The Accommodation and Food Services output in Finland has seen a consistent upward trend from 2013 to 2019, peaking at 9.3 billion Euros. The pandemic caused a significant dip in 2020, with a 24.76% year-on-year decline, but the sector began recovering in 2021. By 2022, the output rebounded strongly by 30%, reaching 9.45 billion Euros. In 2023, it stood at 9.62 billion Euros. The CAGR over the past five years (2018-2023) was 1.87%, reflecting moderate growth despite the pandemic's impact.
Forecasts suggest a continued recovery and growth, with a 2028 output projected at 10.5 billion Euros, indicating a forecasted 5-year CAGR of 1.39%, and a total growth rate of 7.13% over this period.
- The sector is expected to stabilize post-pandemic.
- Focus on sustainable tourism could drive future growth.
- Technological innovations and changing consumer preferences may also shape the industry.
