Forecast: Production Value of Accommodation and Food Services in Finland

The production value of accommodation and food services in Finland has shown substantial growth from €6.04 billion in 2013 to €7.91 billion in 2023. Despite the significant drop in 2020 due to the pandemic, with a 25.13% decline, the sector rebounded quickly in 2021 and continued to grow steadily through 2023, exhibiting a 7.52% year-on-year increase in 2023. The compound annual growth rate (CAGR) over the past five years has been 2.32%. From 2024 onwards, forecasts suggest continued growth, with a production value expected to reach €8.71 billion in 2028 and a forecasted five-year CAGR of 1.52%.

Future trends to watch for:

• Impact of evolving tourism patterns and potential increases in international travel.
• Adoption of digital technologies and innovations in food service delivery.
• Changes in consumer behavior towards healthier and sustainable food options.
• Potential regulatory changes affecting the hospitality and food service industries.
• Economic factors influencing disposable income and spending on non-essential services.