The production of accommodation and food services in Finland has shown a diverse trend over the past decade. Starting from 7.24 billion euros in 2013, it gradually increased until 2019, touching 8.9 billion euros. The sector witnessed a significant decline in 2020 due to the pandemic, dropping to 5.1 billion euros but rebounded sharply in 2021. By 2023, it stood at 9.73 billion euros, regaining and surpassing its pre-pandemic levels. Year-on-year growth varied, with a significant impact in 2020 followed by recovery leading to moderate growth. The average annual growth rate over the past five years was 2.1%.
For the future, the forecast indicates continued growth in the sector, with the production of accommodation and food services expected to reach 10.74 billion euros by 2028, reflecting a five-year compound annual growth rate (CAGR) of 1.66% and an overall forecast growth rate of 8.57%.
Future trends to watch for:
- Impact of changing consumer behavior post-pandemic.
- Technological advancements in customer service and operational efficiency.
- Shifts towards sustainable and eco-friendly accommodation and food services.
- Potential economic fluctuations and their impacts on tourism and dining out.
- Regulatory changes and their influence on the sector's growth trajectory.
