finland tourism gdp

Finland Tourism

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Hall, C., and J. Saarinen, eds. 2010. Tourism and change in polar regions: Climate, environments and experiences . London: Routledge.

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Ministry of Economic Affairs and Employment. 2020. Achieving more together – sustainable growth and renewal in Finnish tourism. Finland ́s tourism strategy 2019–2028 and action plan 2019–2023. https://julkaisut.valtioneuvosto.fi/handle/10024/162136 . 21 March 2021.

Walmsley, A., K. Åberg, P. Blinikka, and G.T. Jóhannesson, eds. 2020. Tourism employment in Nordic countries: Trends, practices, and opportunities . Cham: Springer.

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Auvo Kostiainen

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Kostiainen, A. (2023). Finland Tourism. In: Jafari, J., Xiao, H. (eds) Encyclopedia of Tourism. Springer, Cham. https://doi.org/10.1007/978-3-319-01669-6_501-2

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Finland: International tourism revenue, percent of GDP

Finland: international tourism revenue, percent of gdp, 1995 - 2020:.

Tourism in Finland

Development of the tourism sector in finland from 1995 to 2021.

Revenues from tourism

All data for Finland in detail

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Finland Tourism Revenue Growth

• Finland Tourism Revenue dropped 70.4 % YoY in Dec 2020, compared with an increase of 3.2 % YoY in the previous year
• Finland Tourism Revenue Growth rate data is updated yearly, available from Dec 1996 to Dec 2020
• The data reached an all-time high of 29.7 % in Dec 2017 and a record low of -70.4 % in Dec 2020

View Finland's Tourism Revenue Growth from 1996 to 2020 in the chart:

What was Finland's Tourism Revenue Growth in 2020?

Finland Tourism Revenue dropped 70.4 % YoY in Dec 2020, compared with an increase of 3.2 % YoY in the previous year See the table below for more data.

Tourism Revenue Growth by Country Comparison

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Tourism in Finland 

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Tourism in Finland is big business, but why? Why is this industry so important and how should it best be managed? Read on to find out…

Tourism in Finland

Finland, often dubbed the ‘Land of a Thousand Lakes’, offers more than just its serene waterscapes. Nestled between vast forests and the Arctic expanse, this Nordic nation presents a harmonious blend of natural beauty and modern innovation. As we embark on this article, we’ll explore the multifaceted attractions of Finnish tourism, delving into a destination where the midnight sun meets cutting-edge design, and age-old traditions thrive alongside contemporary culture.

Geographical overview of Finland 

Finland is a country located in northern Europe and shares borders with Sweden to the west, Norway to the north, Russia to the east, and Estonia to the south across the Gulf of Finland.

The country has a total area of approximately 338,000 square kilometres, making it the eighth-largest country in Europe. Its terrain is characterised by numerous lakes and vast forested areas, as well as many islands and archipelagos along its extensive coastline.

Finland has a relatively low population density, with most of the population concentrated in the southern part of the country, particularly around the capital city of Helsinki. The majority of the land is covered by forests, and about one-tenth of the country is covered by water, including over 188,000 lakes.

The landscape is marked by several large lakes, such as Saimaa, the largest lake in Finland and the fourth largest in Europe. The country also features several mountain ranges, including the Koli National Park, which is home to one of Finland’s most famous landscapes.

The climate in Finland is generally characterised by cold winters and mild summers, with the winter months bringing snow and freezing temperatures. Due to its location near the Arctic Circle, some parts of Finland experience the phenomenon of the midnight sun during the summer months and the polar night during the winter months.

The tourism industry in Finland 

Finland is a popular tourist destination known for its unique natural beauty, fascinating culture, and outdoor activities. The tourism industry in Finland is an important contributor to the country’s economy, and it has experienced steady growth in recent years.

One of the main draws for tourists is Finland’s vast wilderness areas, including its many lakes, forests, and national parks. Visitors can experience the Northern Lights, hike or ski in the mountains, go fishing, or enjoy a sauna by a lakeside cabin. Finland also has a rich cultural heritage, with numerous museums, art galleries, and festivals celebrating traditional Finnish culture and modern art.

Helsinki, the capital city of Finland, is also a popular tourist destination. The city has a vibrant cultural scene, with numerous museums, art galleries, theatres, and music venues. Helsinki also boasts many architectural wonders, including the famous Temppeliaukio Church, a church built into a rock face, and the modernist Kamppi Chapel of Silence.

Tourists can also experience Finnish traditions and culture through local food and drink, including smoked salmon, reindeer meat, and cloudberry jam. Finland is also known for its vodka, beer, and award-winning wines.

In recent years, Finland has also become a popular destination for wellness and eco-tourism, with a focus on sustainability and natural healing. Visitors can enjoy spa treatments, yoga retreats, and outdoor activities like foraging for wild berries and mushrooms.

Overall, Finland’s tourism industry offers a unique blend of nature, culture, and modern amenities, making it an ideal destination for a wide range of travellers.

Statistics about tourism in Finland 

Here are some of the most current statistics available and the time of publication about tourism in Finland:

• In 2019, Finland welcomed a total of 6.9 million tourists, which was a 3% increase from the previous year. (Source: Visit Finland)
• Tourism accounts for about 2.9% of Finland’s GDP, generating around €5.3 billion in revenue in 2019. (Source: Visit Finland)
• The majority of tourists visiting Finland come from neighbouring countries such as Russia, Sweden, and Germany. (Source: Visit Finland)
• The most popular destinations in Finland for tourists are Helsinki, Lapland, and the Lakeland region. (Source: Visit Finland)
• The average length of stay for tourists in Finland is about 4.4 nights. (Source: Visit Finland)
• The most popular activities for tourists in Finland include outdoor activities such as hiking, skiing, and fishing, as well as cultural activities such as visiting museums and art galleries. (Source: Visit Finland)
• In 2019, the tourism industry in Finland employed approximately 140,000 people, making up around 5.7% of the country’s total employment. (Source: Visit Finland)
• The number of Chinese tourists visiting Finland has been increasing steadily in recent years, with a 12.6% increase in 2019. (Source: Visit Finland)
• The majority of accommodation options in Finland are hotels, followed by rental cottages and apartments. (Source: Visit Finland)
• Sustainable tourism is an important focus for Finland, with the country being named the world’s happiest country by the World Happiness Report in 2021 and ranked as one of the most sustainable destinations in the world by the Global Sustainable Tourism Council. (Source: Visit Finland, GSTC)

Most popular tourist attractions in Finland 

Finland has a wealth of attractions that draw tourists from around the world. Here are some of the most popular tourist attractions in Finland:

• Helsinki – The capital city of Finland is a vibrant metropolis that offers a wide range of cultural and historical attractions, including museums, art galleries, theatres, and the iconic Helsinki Cathedral.
• Lapland – The northernmost region of Finland is a popular destination for tourists looking to experience the unique Arctic environment and outdoor activities such as skiing, snowmobiling, and dog sledding. Lapland is also famous for its Santa Claus Village and the opportunity to witness the Northern Lights.
• Finnish Lakeland – Finland’s lake district, located in the eastern part of the country, is a stunning region of interconnected lakes and islands, offering opportunities for boating, fishing, and hiking.
• Suomenlinna Fortress – This UNESCO World Heritage site located in Helsinki is a historic sea fortress built in the 18th century. Visitors can explore the fortress and learn about its history through guided tours and exhibits.
• Rovaniemi – The capital of Lapland and the official home of Santa Claus, Rovaniemi is a popular destination for families and tourists looking to experience traditional Finnish culture and the northern wilderness.
• Turku Castle – Located in the city of Turku, this mediaeval castle is one of the most well-preserved castles in Finland and offers visitors a glimpse into the country’s rich history.
• Åland Islands – An archipelago of over 6,000 islands located between Finland and Sweden, the Åland Islands offer a unique blend of Finnish and Swedish culture, as well as stunning natural beauty.
• The Archipelago Trail – This 250 km route takes visitors through the Turku archipelago and offers a scenic drive or bike ride through beautiful landscapes, traditional villages, and historic sites.
• Koli National Park – Located in eastern Finland, this national park offers breathtaking views of the Finnish Lakeland and is known for its rugged terrain and unique rock formations.
• Saimaa – The largest lake in Finland, Saimaa offers opportunities for boating, fishing, and relaxation in a picturesque setting, with numerous islands and waterways to explore.

These are just a few of the many attractions that Finland has to offer, making it an ideal destination for travellers seeking a unique blend of nature, culture, and history.

Most popular types of tourism in Finland 

Finland offers a diverse range of tourism experiences that cater to different interests and preferences. Here are some of the most popular types of tourism in Finland:

• Nature tourism – Finland’s pristine forests, lakes, and wilderness areas are a major draw for visitors seeking outdoor adventure and natural beauty. Activities such as hiking, cycling, fishing, and wildlife watching are popular among nature lovers.
• Cultural tourism – Finland has a rich cultural heritage that is celebrated through various museums, galleries, festivals, and events. Visitors can explore the country’s traditional handicrafts, music, and cuisine, as well as learn about its history and architecture.
• Winter tourism – Finland’s long, snowy winters offer a host of activities for visitors, including skiing, snowboarding, ice fishing, and snowmobiling. Lapland is a particularly popular destination for winter tourism, with its unique Arctic environment and opportunities to see the Northern Lights.
• Sauna tourism – Sauna is an important part of Finnish culture, and visitors can experience traditional Finnish sauna rituals and relaxation techniques in a variety of settings, from public saunas to private cabins.
• Food and drink tourism – Finnish cuisine features fresh, locally sourced ingredients and a range of unique flavours and dishes. Visitors can sample traditional Finnish dishes such as reindeer, salmon, and cloudberry, as well as Finnish craft beers and spirits.
• Health and wellness tourism – Finland is known for its natural hot springs, therapeutic mud treatments, and spa facilities that offer relaxation and rejuvenation to visitors. Health and wellness tourism is popular among those seeking rest and rejuvenation in a peaceful and natural environment.

These are just a few of the many types of tourism experiences available in Finland, catering to different interests and preferences.

Economic impacts of tourism in Finland

Tourism is a significant contributor to the Finnish economy, generating employment and income, as well as supporting various industries and businesses. Here are some of the economic impacts of tourism in Finland:

• Employment – Tourism creates jobs in a range of industries, including accommodation, food and beverage, transportation, and retail. In 2019, the tourism industry in Finland employed over 155,000 people, accounting for around 6% of total employment in the country.
• Income – Tourism generates income for businesses and individuals across the country, including hotels, restaurants, tour operators, and local vendors. In 2019, tourism contributed approximately €6.8 billion to the Finnish economy, accounting for around 2.9% of the country’s GDP.
• Investment – The tourism industry also attracts investment in infrastructure and services, such as new hotels, transportation networks, and tourism attractions. This investment helps to support the growth of the industry and enhance the visitor experience.
• Regional development – Tourism can support regional development by promoting the growth of businesses and infrastructure in less developed areas of the country. This can help to create more balanced regional development and spread the economic benefits of tourism more widely.
• Cultural preservation – Tourism can also help to preserve and promote Finland’s cultural heritage, by encouraging the development of cultural attractions and events that celebrate Finnish traditions and history. This can help to maintain a sense of cultural identity and pride among the local population.

Overall, the tourism industry plays an important role in the Finnish economy, generating income, employment, and investment, as well as supporting regional development and cultural preservation.

Social impacts of tourism in Finland

Tourism can have various social impacts on destinations, including Finland. Here are some of the social impacts of tourism in Finland:

• Cultural exchange – Tourism can promote cultural exchange and understanding between visitors and locals. Visitors can learn about Finnish culture and traditions, while locals can gain exposure to different cultures and perspectives.
• Community involvement – The tourism industry can involve and benefit local communities, by creating job opportunities and supporting local businesses. This can help to foster a sense of community pride and ownership over tourism development.
• Environmental awareness – Tourism can raise awareness about environmental issues and encourage responsible travel practices. This can help to promote environmental conservation and sustainability.
• Infrastructure development – Tourism can also support the development of infrastructure and services that benefit local communities, such as transportation networks, public facilities, and tourist attractions. This can improve quality of life for residents and enhance the overall visitor experience.
• Social tensions – However, tourism can also create social tensions and conflicts, particularly if it leads to overcrowding, environmental degradation, or cultural misunderstandings. It is important for tourism development to be managed in a sustainable and responsible manner, taking into account the needs and concerns of both visitors and local communities.

Overall, the social impacts of tourism in Finland can be both positive and negative, depending on how tourism development is managed and balanced with the needs and aspirations of local communities.

Environmental impacts of tourism in Finland

Tourism can have various environmental impacts on destinations, including Finland. Here are some of the environmental impacts of tourism in Finland:

• Carbon emissions – Tourism in Finland can contribute to greenhouse gas emissions, particularly through transportation, accommodation, and food and beverage services. This can contribute to climate change and other environmental problems.
• Land use – Tourism development can lead to changes in land use, such as the conversion of natural habitats into tourism infrastructure or the degradation of fragile ecosystems due to tourist activities.
• Waste generation – Tourism in Finland can generate significant amounts of waste, such as packaging, food waste, and disposable products. This can contribute to environmental pollution and waste management challenges.
• Resource depletion – Tourism can also lead to the depletion of natural resources, such as water and energy, particularly in areas with limited resources.
• Biodiversity loss – Tourism can have negative impacts on biodiversity, particularly through habitat destruction and disturbance, hunting and fishing, and the introduction of invasive species.

To mitigate the environmental impacts of tourism in Finland, there are various sustainability initiatives in place. These include eco-friendly accommodations, sustainable transportation options, waste reduction and recycling programs, and conservation efforts to protect biodiversity and natural habitats. It is important for tourists to also practise responsible and sustainable tourism behaviours, such as minimising waste, using public transportation, and respecting natural and cultural heritage sites.

FAQs about tourism in Finland 

Now that we know a bit more about tourism in Finland, lets answer some of the most frequently asked questions on this topic:

What is the best time of year to visit Finland?

The best time to visit Finland depends on your interests. Summer (June to August) is the best time for outdoor activities and sightseeing, while winter (December to February) is ideal for winter sports and seeing the Northern Lights.

Do I need a visa to visit Finland?

This depends on your nationality. Citizens of EU/EEA countries and several other countries are exempt from visa requirements for short stays. Check with the Finnish embassy or consulate in your home country to determine if you need a visa.

What is the official language of Finland?

The official languages of Finland are Finnish and Swedish. English is widely spoken, particularly in tourist areas.

How do I get around in Finland?

Finland has a well-developed transportation network that includes buses, trains, domestic flights, and ferries. Public transportation in major cities is affordable and reliable.

What are some popular tourist attractions in Finland?

Popular tourist attractions in Finland include Helsinki, Lapland, the Northern Lights, Finnish lakes, national parks, and cultural sites such as Suomenlinna fortress and Turku Castle.

Is Finland an expensive country to visit?

Finland can be relatively expensive compared to other European countries, particularly in terms of accommodation and food. However, there are budget-friendly options available, such as hostels and street food.

What are some typical Finnish foods I should try?

Finnish cuisine includes traditional dishes such as reindeer stew, smoked salmon, Karelian pastries, and rye bread. There are also many international dining options available in major cities.

Can I see the Northern Lights in Finland?

Yes, Finland is a popular destination for seeing the Northern Lights, particularly in Lapland. The best time to see the Northern Lights is during the winter months.

Are there any cultural customs I should be aware of when visiting Finland?

Finns tend to be reserved and value personal space, so it’s important to respect this when interacting with locals. It’s also common to remove shoes when entering someone’s home or certain public buildings.

What are some popular winter activities in Finland?

Popular winter activities in Finland include skiing, snowboarding, snowshoeing, ice fishing, and dog sledding.

To conclude- Tourism in Finland

So, that sums up this article about tourism in Finland. As our exploration of Finland’s tourism landscape draws to a close, it’s evident that this Nordic gem seamlessly marries its rich cultural tapestry with unparalleled natural beauty. From its tranquil lakes to innovative urban hubs, Finland continually redefines the essence of travel, offering experiences that are both profound and enriching. In the realm of global tourism, Finland stands as a testament to timeless allure and modern evolution, promising each visitor a journey of lasting resonance.

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Please note you do not have access to teaching notes, the economic impact of tourism in central finland: a regional input–output study.

Tourism Review

ISSN : 1660-5373

Article publication date: 29 June 2018

Issue publication date: 24 October 2018

The purpose of this study is to examine the total economic impact of tourism at the regional level in Central Finland. This paper aims to clarify the extent to which tourism contributes to regional output, employment, income and taxes in tourism-related sectors.

Design/methodology/approach

This study is based on a regional input–output analysis. The author calculates the effects of tourism on regional output, demand, wages, employment and national and regional taxes in Central Finland.

The author’s regional input–output analysis reveals that tourism has a substantial impact on production in Central Finland (including the direct and indirect effects of consumption by tourists in different sectors). Moreover, the effects of tourism expenditures on employment and residents’ incomes in tourism-related sectors in Central Finland are quite significant.

Research limitations/implications

Many limitations of this study stem from the assumptions of the input–output model. Other limitations relate to the analysis of the impacts of tourism on household taxes, savings, consumption and net income. Our study uses average figures, which may overstate the effect of tourist expenditures on taxes because tourism jobs are often low paying.

Practical implications

The study yields results that can be used to frame regional policy. The results may be useful for policymakers in planning for tourist attractions. Furthermore, local authorities may use the results to guide decisions regarding infrastructure investments or improvements to the operating environment of tourism industries.

Originality/value

Many studies analyse the economic impact of events at the regional level using input–output analysis. National-level tourism impact studies using the input–output technique have also been conducted. Studies focussed on the economic impact of tourism at the regional level typically examine the macroeconomic (income, output and employment) effects of tourism. Consequently, these studies have focussed on estimating output, employment and income multipliers (Mazumder et al., 2012). The author’s contribution is a regional input–output analysis of direct and indirect impacts of tourism expenditures on production, demand, wages, income and employment in the whole economy at the regional level (in Central Finland). The author also analyses the impacts of tourism on national and regional taxes. The results of this study could be used by planners and policymakers involved in regional planning and development.

• Economic effects
• Input–output analysis
• Tourism satellite account

Acknowledgements

We gratefully acknowledge funding from the Strategic research Council (SRC) at the Academy of Finland for the project “Beyond MALPE-coordination: Integrative envisioning” (number 303552).

Tohmo, T. (2018), "The economic impact of tourism in Central Finland: a regional input–output study", Tourism Review , Vol. 73 No. 4, pp. 521-547. https://doi.org/10.1108/TR-04-2017-0080

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Copyright © 2018, Emerald Publishing Limited

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Finland is the happiest country in the world – but our research suggests the rankings are wealth and  status-oriented

PhD Candidante in Organizational Psychology, Lund University

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Finland steadily ranks as the happiest country in the world. In March 2024 the country was, for the seventh year in a row, ranked as the happiness champion. The ranking is based on one simple question, using a ladder metaphor, that is asked to people across nearly every country in the world. But my team’s new experimental study suggests that the ladder metaphor makes people think about power and wealth.

Since 2005, the Gallup analytics organisation has worked to measure happiness across the entire planet. The mission is particularly important as more and more governments say they are prioritising the wellbeing of their people.

For example, all OECD countries now measure the happiness of their people including the UK . More than a decade ago, Bhutan declared that the primary goal of their government was “gross national happiness” , not gross domestic product.

The world ranking is based on one simple but powerful question, called the Cantril Ladder:

Please imagine a ladder with steps numbered from zero at the bottom to ten at the top. The top of the ladder represents the best possible life for you and the bottom of the ladder represents the worst possible life for you. On which step of the ladder would you say you personally feel you stand at this time?

As you read the question, what does the top of the ladder metaphor make you think of and what does it represent to you? Is it love, money, your family – or something else?

I recently led a group of researchers from Sweden, the US and the UK. We investigated these questions in a study on 1,600 UK adults, and published our results in Nature Scientific Reports . We carried out an experiment with five independent groups.

One group was asked what the top of the ladder represented to them. Another group was asked the exact same question, but this time the ladder metaphor, including the picture of the ladder, was removed and the term “ladder” replaced with “scale”.

Our study found that the ladder metaphor made people think more of power and wealth and less about family, friends and mental health. When the ladder metaphor was removed, people still thought of money, but more in terms of “financial security” rather than terms like “wealth”, “rich” or “upper class”.

In a third group, people interpreted a question where the ladder metaphor as well as the top v bottom description in the question were removed. In a fourth and fifth independent group, in addition to the above changes, the phrase “best possible life” was substituted with “happiest possible life” and “most harmonious life,” respectively.

People in the happiness and harmony groups thought less about power and wealth and more about broader forms of wellbeing such as relationships, work-life balance and mental health, compared to the other groups.

People don’t want the top of the ladder

My research team also asked people where they wanted to be on the scale of the different questions. Researchers often assume that people want the best possible life but, to our knowledge, no one had tested this. The results showed that in none of the groups did more than half the participants want a ten, the best possible life. The typical desire was a nine.

Except for the group with the ladder analogy. They typically wanted an eight. The ladder metaphor made people think more of power and wealth at the expense of relationships, mental health and work-life balance – and made people want a lower score.

What does this say about the happiness rankings where Finland are frequently the champions? Well, there is a risk that the ranking is based on a narrow, wealth and power-oriented form of happiness, rather than a broader definition. This does not mean that Finns are unhappy, but the type of happiness they excel at may be power and wealth-focused.

Our study findings raises the question of what type of happiness we want to measure. A person’s idea of happiness can’t be determined by a researcher. That is why researchers must ask people about their concept of happiness.

Research has shown that when people define happiness, they only mention wealth and status to a small degree. It is well established that money relates to wellbeing but the money effect is weaker than many other happiness factors, where good quality social relationships have the strongest effect .

Recent research from the University of Oxford shows happiness actually causes people to be more productive and the most important factor for happiness at work is belongingness. Salary, on the other hand, is believed to be the most important driver for happiness at work, but it turns out to be a much weaker driver of happiness at work than belongingness . This aligns with the general message from the happiness science that relationships are the most important factor for happiness.

What type of happiness do we want to measure?

Previous research has shown that the Cantril Ladder reflects people’s income levels and social status to a larger degree than other wellbeing metrics . The current study adds more evidence that perhaps the simple but powerful question could be supplemented with extra questions in the future, to clarify what people mean by happiness.

Our study was conducted solely in the UK, so of course this research should be performed in other countries too, given the global nature of this topic. However, our results indicate that we aren’t necessarily measuring happiness and wellbeing in a way that is in line with how we actually define those concepts in our lives.

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• Recovery and Resilience Facility: On October 4, 2021, the European Commission approved a grant of EUR2.1 billion ($2.5 billion) under the Recovery and Resilience Facility (RRF), which aims to foster a recovery in the nation. The plan is expected to boost the country’s gross domestic product by 0.4% to 0.6% by 2026. The plan would also introduce up to 8,000 additional jobs in the country by 2026. The RPF facility allocated EUR695 million ($822.1 million) to support green transition in Finland. Moreover, the EU also provides EUR575 million ($680.2 million) for employment and skills development, EUR353 million ($417.6 million) for health and social services and EUR190 million ($224.8 million) for digitalization across the country. The regulation will be completed by August 2026.
• Finland’s stance on Russia’s invasion of Ukraine: The government condemned Russia’s invasion of Ukraine. The country granted EUR21 million ($24.8 million) to support Ukraine, which also includes EUR9.2 million ($10.9 million) for humanitarian assistance and EUR11.8 million ($14 million) channeled to the development cooperation of Ukraine. Additionally, the country also provided protective military equipment and arms assistance to Ukraine. The country also announced to provide material assistance to Ukraine based on its needs. Finland allocated EUR1 million ($1.2 million) to humanitarian aid through the United Nations Refugee Agency (UNHCR) to support Ukrainians who fled to Moldova.
• Robust foreign relation: In February 2022, the US state of Colorado and Finland signed a MoU to create collaborative opportunities with respect to bilateral foreign direct investment, research and development projects, and company exchanges. In April 2022, India and Finland signed an agreement to establish an Indo-Finnish Virtual Network Center on Quantum Computing. The aim of the agreement is to stimulate innovative R&D projects that demonstrate high industrial relevance. In April 2022, Morocco and Finland held discussions to boost security cooperation between the two nations. In June 2022, Finland and Ghana signed a MoU to establish political consultations. In July 2022, Finland and Thailand renewed MoU on digital cooperation. In August 2022, Finland, Sweden and Turkey announced to held a meeting for NATO membership.
• Robust ranking on governing indicators: According to the World Justice Project, WJP Rule of Law Index (2021), Finland ranked third out of 139 economies on the rule of law parameter. The nation ranked second out of 139 economies on the criminal justice indicator. On the fundamental rights parameter, the nation ranked third out of 139 economies. On the regulatory enforcement parameter, which measures the extent to which regulations are effectively implemented and enforced, Finland ranked third out of 139 countries. Lastly, on the civil justice indicator, where the index measures whether ordinary people can resolve their grievances, Finland ranked sixth out of 139 nations.
• Step toward renewable energy in the country: In December 2021, the European Investment Bank signed an equity co-investment with the Omnes-managed Capenergie fund to develop a 3GW project. The facility is expected to get operational by 2027. In May 2022, the parliament of Finland approved new Climate Change Act by 121-42 votes, which seeks to achieve carbon neutrality by 2035 through the reduction of greenhouse gas emissions in Finland and promote climate change adaptation. The climate act came i,nto force on July 1, 2022. In June 2022, Ilmatar Energy anticipated to construct a solar park in Joroinen, Finland. In July 2022, a Germany-based company, Nordex announced to deliver and install turbines for a 147.5MW onshore wind project in Finland's North Ostrobothnia region. The wind farm is due to be completed by the end of 2024.
• Integration of digital technology: According to the EU, Digital Economy and Society Index (2022), the country allocated various amounts for the integration of digital technology, which includes (i) EUR50 million ($59.1 million) for high-speed broadband infrastructure across Finland (ii) EUR85 million ($100.5 million) for the Digirail project to roll out the new automatic train protection system on the entire national railway network by 2040, along with the 4G and 5G based Future Railway Mobile Communication System (iii) EUR100 million ($118.3 million) for digital innovation in social welfare and healthcare services.    

Key fundamentals

Sectoral outlook

• Revival for travel and tourism industry: The tourism sector is a major contributor to the economy. Lapland and the Northern Lights are Finland’s main tourist attractions. In 2021, the European Commission allocated EUR60 million ($71 million) to develop innovative services and operate models as well as the tourism and travel sectors. According to the World Economic Forum, Travel and Tourism Development Index (2021), the country secured 18th rank among 117 nations. According to the World Travel and Tourism Council, in 2021, travel and tourism contributed 5.5% [EUR13.9 billion ($16.4 billion)] to the GDP and the sector created 186.9 thousands jobs, which is equivalent to 7.0% of total jobs. According to GlobalData, international arrivals in Finland recorded 3.3 million in 2019, which narrowed down to 0.9 million and 0.6 million in 2020 and 2021, respectively. Further, international arrivals in the country is forecast to reach 2.2 million in 2022 and 2.7 million in 2023 due to lifting of travel restrictions.
• Positive outlook of renewable energy: In October 2021, the country allocated EUR70 million ($82.8 million) for replacement of oil boilers with low-or zero-carbon heating systems and EUR40 million ($47.3 million) to support deployment of private and public charging points for electric cars, gas charging and refueling infrastructure. The objective of the investment is to contribute to Finland’s goal to achieve carbon neutrality by 2035. In 2021, wood fuels covered 30% of total energy consumption. Finland’s emission-free electricity generated by hydropower stood at 22% of the total share of electricity generation in 2021. In November 2021, the country anticipated to launch 455MW wind energy project with 1.3TWh of green power (a year) production capacity, which would meet needs of approximately 280,000 homes in Finland. The project is expected to be operational by 2025. In March 2022, the government announced a plan to launch a voluntary agreement to cut down on the country’s use of single-use plastic cups and certain food packets.
• Robust cybersecurity and policy to boost technology sector of the country: In October 2021, under Finland’s recovery and resilience plan, the European Commission allocated EUR50 million ($59.1 million) for the deployment of high-speed broadband infrastructure across the country. The plan also supports Digirail project to introduce the European Rail Traffic Management System on the entire national railway network by 2040 with EUR85 million ($100.5 million). The country received EUR100 million ($118.3 million) for digital innovation in social welfare and health care services, EUR47 million ($54.4 million) for continuous digital learning and EUR25 million ($29.6 million) to accelerate microelectronics, 6G, artificial intelligence and quantum computing. The regulation will be completed by August 2026. In April 2022, the government announced to allocate approximately between EUR40 million and EUR56 million ($47.3 million to $66.2 million) during the period of 2023–26 to improve cyber security of Finland.

GlobalData Country Risk Index (GCRI) – Q2 2022

Finland was ranked 10th out of 152 nations in the GCRI Q2 2022. The country’s risk score is in the low-risk nations band (30). Finland’s risk score across major PESTLE parameters as well as the overall risk score (22.5), were lower than the world average (44), but higher than the West-Europe region score of 26.1. The country secured low risk on macroeconomic (20.9), political environment (9.5), environment (11.2) technology and infrastructure (23.7), legal environment (28.3), compared to the World and the West-Europe region in Q2 2022.

GCRI Methodology

GlobalData’s unique Country Risk Model determines the existing and future level of country risk by assessing various qualitative and quantitative factors. The index is designed to help firms formulate their global business strategies based on historical developments in an economy.

The Country Risk Index incorporates the latest available macroeconomics, political, social, technological, environmental, and legal data from a range of recognized national and international statistical sources and incorporates proprietary data from MarketLine. Western European countries in this publication include Austria, Belgium, Denmark, Finland, France, Germany, Greece, Italy, the Netherlands, Norway, Portugal, Ireland, Spain, Sweden, the UK, Luxembourg, Iceland, and Switzerland.

About the report

GlobalData Macroeconomic Outlook report is designed to provide detailed macro-economic analysis which will help clients in their business planning, investment and strategic decisions, and analysis. It also provides a quick view of the current situation and the risk score of the country in comparison to region and world based on the proprietary risk framework. The report also highlights key strengths, weaknesses, opportunities, and threats in each of the pillars of PESTLE, economic growth prospects, and key events which can impact the country’s future outlook.

More details: Macroeconomic Outlook Report: Finland

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• Economy & Politics ›
• Gross domestic product (GDP) in Finland 2002-2022

Slow recovery after the financial crisis

Challenging outlook, gross domestic product (gdp) in current prices in finland from 2002 to 2022 (in billion euros).

Additional Information

Show sources information Show publisher information Use Ask Statista Research Service

2002 to 2022

At current prices

* Preliminary data For this statistic, the values reported by the source have been rounded.

Other statistics on the topic Key economic indicators of Finland

• Monthly inflation rate (CPI) in Finland 2020-2023
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Statistics on " Key economic indicators of Finland "

• Gross domestic product (GDP) per capita in Finland 2007-2022
• Gross domestic product (GDP) growth rate Finland 2007-2022
• General government budget balance in Finland 2007-2022
• National debt in relation to GDP in Finland 2007-2022
• Exports of goods and services as share of GDP in Finland 2000-2022
• Imports of goods and services as share of GDP in Finland 2000-2022
• Trade balance of Finland 2000-2022
• Value of exports from Finland 2022, by product category
• Value of imports to Finland 2022, by product category
• Distribution of exports from Finland 2022, by product category
• Distribution of imports to Finland 2022, by product category
• Inflation rate in Finland 2005-2022
• Consumer price index in Finland 2005-2023
• Monthly Harmonized Index of Consumer Prices (HICP) in Finland 2021-2023
• Monthly change in inflation rate (HICP) in Finland 2021-2023
• Employment rate in Finland 2013-2023
• Employment rate in Finland 2013-2023, by gender
• Unemployment rate in Finland 2013-2023, by gender
• Unemployment rate in Finland 2013-2023, by age group
• Monthly unemployment rate in Finland 2021-2023
• Monthly unemployment rate among people aged 15-24 in Finland 2021-2023
• Post-coronavirus GDP forecast in Finland 2020-2025
• Forecast of export volume change in Finland 2020-2025
• Forecast of import volume change in Finland 2020-2025
• Post-coronavirus unemployment rate forecast in Finland 2020-2025

Other statistics that may interest you Key economic indicators of Finland

Gross Domestic Product (GDP)

• Basic Statistic Gross domestic product (GDP) in Finland 2002-2022
• Basic Statistic Gross domestic product (GDP) per capita in Finland 2007-2022
• Basic Statistic Gross domestic product (GDP) growth rate Finland 2007-2022
• Basic Statistic General government budget balance in Finland 2007-2022
• Basic Statistic National debt in relation to GDP in Finland 2007-2022
• Basic Statistic Exports of goods and services as share of GDP in Finland 2000-2022
• Basic Statistic Imports of goods and services as share of GDP in Finland 2000-2022

International trade

• Premium Statistic Trade balance of Finland 2000-2022
• Basic Statistic Value of exports from Finland 2022, by product category
• Basic Statistic Value of imports to Finland 2022, by product category
• Basic Statistic Distribution of exports from Finland 2022, by product category
• Basic Statistic Distribution of imports to Finland 2022, by product category
• Premium Statistic Inflation rate in Finland 2005-2022
• Basic Statistic Monthly inflation rate (CPI) in Finland 2020-2023
• Basic Statistic Consumer price index in Finland 2005-2023
• Basic Statistic Monthly Consumer Price Index (CPI) in Finland 2020-2023
• Basic Statistic Monthly Harmonized Index of Consumer Prices (HICP) in Finland 2021-2023
• Basic Statistic Monthly change in inflation rate (HICP) in Finland 2021-2023
• Basic Statistic Employment rate in Finland 2013-2023
• Basic Statistic Employment rate in Finland 2013-2023, by gender
• Basic Statistic Unemployment rate in Finland 2013-2023
• Basic Statistic Unemployment rate in Finland 2013-2023, by gender
• Basic Statistic Unemployment rate in Finland 2013-2023, by age group
• Basic Statistic Monthly unemployment rate in Finland 2021-2023
• Basic Statistic Monthly unemployment rate among people aged 15-24 in Finland 2021-2023

Impact of COVID-19

• Premium Statistic Post-coronavirus GDP growth forecast in Finland 2020-2025
• Premium Statistic Post-coronavirus GDP forecast in Finland 2020-2025
• Premium Statistic Forecast of export volume change in Finland 2020-2025
• Premium Statistic Forecast of import volume change in Finland 2020-2025
• Premium Statistic Post-coronavirus unemployment rate forecast in Finland 2020-2025

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• Nominal gross domestic product (GDP) in Finland 2012-2022
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• GDP per capita 2010-2019
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• Gross domestic product (GDP) of Shanxi province, China 2012-2022
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