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Russians spend money in Finland again, but the golden days are over

After a period of decline, the number of Russian visitors to Finland is now on the rise. In the January–July period 2017, the number of Russian visitors increased by 15 per cent and the number of visa applications by over 60 per cent from the previous year. However, Finland’s biggest competitors for Russian purchasing power are Estonia and e-commerce.

Board of Finnish Commerce

Federation

The transformation of commerce already affecting employment

The real impact of the transformation in commerce is becoming evident. International and domestic competition, streamlined operations, automation and digitalisation are changing business structures. With this transformation, increased turnovers do not necessary translate into new jobs. In fact, the approximately 2 per cent growth in turnover, as estimated by the Finnish Commerce Federation, will not be sufficient to sustain the current employment in wholesale and retail businesses.

Finnish Commerce