The number of persons employed in the travel agency activities sector in Finland experienced a significant decline from 2013 to 2023, falling from 1.85 thousand employees to 0.853 thousand employees. This represents a decline of 53.89%. Year-on-year, the sector saw varying rates of change, with the most dramatic drop occurring in 2020 at -29.64%, likely influenced by the global COVID-19 pandemic. Over the last two years, the year-on-year variation was -0.44% in 2022 and -5.22% in 2023. The compound annual growth rate (CAGR) for the last five years was -8.54%.
Looking ahead, the forecast data suggests a continuation of this downward trend, with the sector projected to reach just 0.35 thousand employees by 2028. The forecasted 5-year CAGR is -14.16%, and the forecasted growth rate over these five years is -53.4%.
Future trends to watch for include the industry's adaptation to technological advancements, shifts in consumer behavior towards digital platforms, and potential recovery post-COVID as global travel confidence resumes. Monitoring these factors could provide insights into any potential stabilization or resurgence in employment numbers.
