Forecast: Restaurants and Hotels Nominal Expenditure in Finland

The nominal expenditure on restaurants and hotels in Finland has shown a generally positive trajectory from 2013 to 2023, starting at €6.54 billion in 2013 and reaching €7.31 billion in 2023. Despite several years of consistent growth, a significant decline occurred in 2020, primarily due to the COVID-19 pandemic, with a 25.29% year-on-year reduction. This expenditure started to recover in 2021 and saw notable increases until a slight decrease of 0.068% in 2023. The 2023 expenditure level indicates steady recovery and stability following the pandemic-induced downturn.

Looking ahead, the forecasted data suggests a gradual increase in expenditure from 2024 to 2028, with the annual growth rate expected to average around 1.18%. By 2028, the expenditure is projected to grow by approximately 6.04% from the 2023 level. Future trends to watch include the impact of evolving consumer preferences towards sustainable and locally sourced offerings, the role of digital transformation in enhancing customer experiences, and the resilience of the sector against economic and health-related disruptions.