Lapland's small and medium enterprises experienced significant growth and unprecedented investments in the tourism sector last year, fueled by substantial funding from Finnvera.
Last year marked a notable period of growth for small and medium enterprises (SMEs) in Lapland, Finland, particularly within the tourism industry. The state-owned special financier, Finnvera, allocated a total of 40 million euros in funding for tourism in Northern Finland, which enabled 97 million euros in investments when combined with contributions from other financiers. Most of these funds were directed towards increasing accommodation capacity, demonstrating a commitment to enhancing the region's appeal as a travel destination.
Risto Koskiniemi, the regional manager, stated that last year was characterized by robust growth and record investments for Lapland’s SMEs. The region's tourism sector reached unprecedented levels, while the industrial base strengthened, positioning local businesses to build future competitiveness. The diverse economic structure of Lapland, spanning mining, forest industries, machine shops, and tourism, provides a strong foundation for continued growth and development.
In addition to tourism, investments related to defense, the region's strategic location, and the increasing significance of the Arctic area present new opportunities for Lapland. The attractiveness of Lapland is not diminishing; rather, it is rising to a stronger level. This positive outlook suggests that the synergy between various sectors may foster resilience and further economic advancements in the near future.
