Between 2013 and 2023, the Employment in the Travel Agency Activities sector in Finland experienced a steady decline, with notable decreases in some years. Employment levels dropped from a high of 1.56 thousand FTEs in 2013 to 0.608 thousand FTEs in 2023. This translates to a negative CAGR of -10.81% over the last five years, reflecting a significant downturn. The sharpest decline was observed in 2020 due to the COVID-19 pandemic, which saw employment almost halved. While there was a slight recovery in 2021 and 2022, the downward trend continued, indicating long-term structural changes in the industry.
Looking forward, employment in this sector is forecasted to continue its decline, with projected values decreasing to 0.183 thousand FTEs by 2028. This represents a forecasted 5-year CAGR of -18.82%, suggesting a drastic reduction in employment levels by over 60% from 2023. Factors contributing to this trend include digitalization, shifting consumer preferences towards self-booking tools, and ongoing economic challenges.
Future trends to watch for:
• Digital transformation: Increasing automation and online booking platforms may further reduce the need for traditional travel agency roles.
• Economic uncertainty: Global economic conditions and consumer spending power will heavily influence travel behavior.
• Sustainability concerns: Growing emphasis on eco-friendly travel may reshape demand and operational models within the travel sector.
