The value added of accommodation and food services in Finland has shown a generally positive trend over the past decade, with notable fluctuations. Starting from 2.84 billion euros in 2013, it gradually increased to 3.72 billion euros by 2019. However, the industry faced a significant setback in 2020 due to the pandemic, causing a dramatic drop to 2.13 billion euros. Recovery was swift, as the value rebounded to 3.51 billion euros in 2021, and further grew to 4.08 billion euros in 2023. Forecasted data suggests continued growth, reaching 4.52 billion euros by 2028.
Key points to note regarding year-on-year variation:
- From 2022 to 2023, the value added grew by 2.23%.
- The past 5 years had a CAGR of 2.19%.
Future trends indicate a forecasted 5-year CAGR of 1.73%, suggesting steady but moderate growth. Key areas to monitor include the sector's adaptation to changing consumer preferences, the impact of digitalization, and ongoing global economic conditions. The sector's resilience in the face of economic shocks and its capacity to innovate will be crucial for sustained growth.
