The employment in the Accommodation and Food Service Activities sector in Finland has experienced varied trends over the past decade. After witnessing gradual growth between 2013 and 2019, the sector faced a significant decline in 2020 due to the pandemic, with employment dropping by 14.25%. The subsequent years exhibited recovery, with notable increases in 2021 and 2022. By 2023, employment stood at 63.89 thousand Full-Time Equivalents, indicating a steady upward trajectory.
Key variations in recent years include:
- 2021: 10.51% increase
- 2022: 7.62% increase
- 2023: 5.8% increase
Looking ahead, forecasts suggest employment will continue to rise with a compound annual growth rate (CAGR) of 1.96% from 2024 to 2028, resulting in a growth rate of 10.17% by 2028. This indicates continued optimism for sector recovery and growth.
Future trends to watch for include technological advancements in service delivery, shifts in consumer behavior towards sustainable practices, and potential impacts of global economic conditions on travel and tourism, affecting demand within the sector.
