If the recovery in tourism begins in November-December 2021, the total tourist spending is estimated to shrink by about 30%, or more than EUR 5 billion. However, if the recovery does not start until spring 2022, total spending will fall by around 40%, or more than EUR 6 billion.
These data appear in the assessment describing the development of tourism demand, which was prepared by the Ministry of Economic Affairs and Employment, in cooperation with Visit Finland, Statistics Finland, Finnish Hospitality Association MaRa and the Association of Finnish Travel Industry (SMAL). They used figures from 2019 for the purposes of comparison.
The estimates of the contraction in spending have turned more optimistic than in early spring. The positive development is explained by the growth of domestic tourism this summer. However, the overall demand in the sector cannot reach the pre-pandemic level without cross-border travel.
According to preliminary data, the amount of money spent by Finnish and foreign tourists in Finland was EUR 16.3 billion in 2019. The demand is not expected to reach this level at least until 2023.
The Finnish tourist spending in Finland on services related to foreign travel will decrease 76–86%, or EUR 1.7–2.0 billion. Before the coronavirus crisis, travel abroad accounted for about 15% of the total travel and tourism demand, but fell to just 5% this year.
It is assumed, that the spending for domestic tourism will remain close to the 2019 level. Before to the crisis, domestic tourism accounted for almost 55 % of Finland's total demand for tourism and will grow to 82–87 % this year.
The full information and the source text can be found at Ministry of Economic Affairs and Employment in Finland website
Published 07.09.2021, FINREPO