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Investment in the Nordic tourism industry has fallen by 17 percent despite increased travel

September 28, 2013 Corporate No Comments Email Email

In 2012, investment in the Nordic tourism industry totaled EUR 896.4 million. This represents an overall decrease of 17 percent compared with 2011 (EUR 1,077.8 million).

Tourism investment has declined in all countries, except Norway, where overall investment rose by four percent. In Sweden, tourism investment decreased by 21 percent, in Finland with 15 percent and in Denmark the investment decreased the most, going down by 47 percent. This is according to the Nordic Tourism Investment Index, which despite reduced investments, shows record figures for travel to, from and within the Nordic region.

The total hotel investments in the Nordic region amounted to EUR 503 million in 2012, representing a decrease of 25 percent compared with 2011 (EUR 668 million). In total, 24 new hotels started in 2012 in Denmark, Finland, Norway and Sweden and it’s only in Norway that hotel investment increased. In 2012, the total amounted investment in new arenas is EUR 229 million, which remains at the same level as in 2011 (EUR 229 million). It is Sweden, which accounts for over 90 percent of the total investment in new arenas.

In Finland, the investment in ski resorts has decreased by 26 percent from EUR 8.5 million in 2011 to EUR 6.3 million in 2012. In Sweden, however, the investments in ski resorts remain on the same level as in 2011 (approximately EUR 29 million).

The state funding for tourism marketing in the Nordic countries is basically at the same level in 2012 with EUR 77.8 million, compared with 2011 (77.4 million euro).

The Nordic Tourism Investment Index also contains a Nordic market analysis that shows that travel and overnight stays in the Nordic countries have increased despite the declining investments in the Nordic tourism industry. 

“For the first time, we have figures, featuring a Nordic investor index for tourism. Since 2011, we have seen how tourism investment has fallen, something that seems to continue in 2013. This happens while the world around us is prioritizing up tourism. It is critical to look at what we can do on a Nordic basis to strengthen our international competitiveness to attract more visitors and investors to the Nordic countries”, says Jan Lundin, CEO, Swedish Travel and Tourism Industry Federation (RTS).

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