Forecast: Production Volumes of Accommodation and Food Services in Finland

The production volumes of accommodation and food services in Finland saw a variety of trends from 2013 to 2023. In the earlier years, from 2013 to 2015, the sector experienced slight fluctuations, marked by minor declines and modest gains. A notable uptick occurred from 2016 to 2019, displaying a consistent upward trend. However, the sector took a substantial hit in 2020 due to the pandemic, plummeting by 43.42%. This was followed by a swift recovery in 2021, with volumes rising by over 62%. The growth continued in 2022 and 2023, with 12.18% and 0.94% year-on-year increases, respectively.

As of 2023, the production volume stood at 8.60 billion euros. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was 0.82%. Forecasts suggest a steady growth pattern, with the sector expected to reach 8.97 billion euros by 2028, supported by a forecasted CAGR of 0.77% over the next five years.

Future trends to watch for:

• The impact of global economic conditions on tourism and dining sectors.
• Technological advancements and digital transformations in the hospitality industry.
• Shifts in consumer preferences towards sustainable and eco-friendly options.
• Post-pandemic recovery trajectories and the adaptation of business models in the sector.