The number of employees in the Travel Agency and Tour Operator sector in Finland has shown significant fluctuations over the past decade. From 2013 to 2019, the sector experienced a gradual decline with intermittent minor increases, particularly notable in 2018. The impacts of the COVID-19 pandemic are evident with a dramatic drop in 2020 and further decline in 2021. The sector began to recover in 2022, reaching stabilization by 2023 at 3.8 thousand persons, continuing through the forecasted period up to 2028.
Key trends include:
- A general decline from 2013 (4.4 thousand) to 2016 (4.0 thousand).
- Recovery and growth from 2017 (4.1 thousand) to 2019 (4.6 thousand).
- Severe decline during the COVID-19 pandemic, with 23.91% drop in 2020.
- Gradual recovery starting in 2022, stabilizing at 3.8 thousand from 2023 onwards.
Year-on-year variations for the last two years show a significant recovery in 2022 (31.03%) and stabilization in 2023 (0%). The Compound Annual Growth Rate (CAGR) over the last five years stands at a negative 3.32%. From 2024 to 2028, a consistent level of 3.8 thousand employees is forecasted, indicating no expected change in employee numbers, resulting in a forecasted 5-year CAGR of 0%.
Future trends to watch for:
- Technological advancements and their impact on employment.
- Potential shifts in demand for travel and tourism post-pandemic.
- Economic policies and their effect on the travel sector’s recovery.
- Sustainability trends influencing travel preferences and industry practices.
