Over the past decade, the wages and salaries in Finland's footwear sector have experienced a declining trend. Starting at 31.8 million Euros in 2013, the value dropped to 24.0 million Euros by 2023. The year-on-year variation has shown fluctuations, from a significant -9.78% in 2015 to minor increases like the 2.22% in 2017. However, the overall trend remains downward, with a recent negative CAGR of -3.78% from 2018 to 2023.
The forecast for the next five years indicates a continuation of this downward trend. By 2028, the expected value is projected to further decline to 20.8 million Euros, registering a forecasted 5-year CAGR of -2.33%, resulting in an 11.11% decrease from 2023 values.
Future trends to watch for include potential automation impacts, cost-saving measures in production, and shifts in market demand. Additionally, the evolving global economic landscape and trade policies may further influence wage trends in Finland's footwear industry.
