From 2013 through 2019, Finland's Tourism Gross Value Added (GVA) showed a stable yet modest upward trend. Significant growth occurred between 2016 and 2019, with an increase in the range of 1-8% annually. However, the industry faced a sharp 36.7% decline in 2020 due to the COVID-19 pandemic. Recovery began in 2021 with a 30.73% increase, and by 2023, the Tourism GVA had reached 2.84 units. The five-year CAGR from 2019 to 2023 was 1.01%.
Looking ahead, forecasted data suggests steady growth, with a CAGR of 0.96% over the next five years, projecting the GVA to reach 3.01 units by 2028. The industry is expected to maintain resilience, though the growth rate might be influenced by economic conditions, tourism policies, and global travel trends.
Future trends to watch for:
- Impact of global economic stability on travel behaviors
- Influence of digital transformation in the tourism sector
- Growth in sustainable and eco-friendly tourism
- Potential new markets and changing demographics of tourists
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