Finland as a Business Location Barometer 2020 Released
- Barometer results launched: Key points and highlights
- Full report released: View and download it now
- Official press release in Finnish: Read and share it
- Future Finland: Online event recap
- See press features: Barometer story picked up by Finland’s news outlets
Foreign-owned companies bring capital and jobs to Finland.
FDI and talent attraction are key to future prosperity.
Over 400 C-level executives from foreign-owned companies and Finnish companies were interviewed for Business Finland and Amcham Finland’s joint Finland as a Business Location Barometer 2020.
Because we wanted to concretely show how international companies see Finland as a business environment and investment destination, before and during the Covid-19 pandemic. Here are the key points:
- Foreign-owned companies view the Finnish business environment more positively than Finnish companies. They also regard societal stability, functionality, quality of living, and digital infrastructure as strengths of Finland. These factors were very important to Finnish companies as well.
- Finland scored slightly higher than two years ago when leaders of foreign-owned companies were asked what they think about the business environment.
- Personal income tax, salary flexibility, and labor costs were challenges in the Finnish business environment, which have not changed since 2018. Therefore, flexibility of the labor market is a key in maintaining operations in Finland.
- Foreign-owned companies are more active than Finnish companies in moving their operations.
- Foreign direct investments (FDI) have a significant impact on the Finnish economy. The barometer shows that 44% of foreign-owned companies plan to hire more personnel in 2020-2021, and 30% intend to invest more in R&D. In addition, one new job created in Finland leads to a minimum of two additional jobs, and one euro invested produces three additional euros.
- Only approximately 1% of companies operating in Finland are foreign-owned, however, their impact is much greater than this number suggests. These 4 400 companies employ almost 266 000 people, which is approximately 18% of personnel of all companies in Finland. Based on 2018 statistics, the combined revenue of foreign-owned companies was 96 billion euros.
Future Finland: Towards the Ideal Business Location online event
attended by 150+ senior executives and government decision makers
Yesterday Business Finland and Amcham Finland hosted a live online event for senior executives and government decision makers from around the country. The one-hour panel discussion featured four diverse leaders and open Q&A:
- Miapetra Kumpula-Natri, Member of the European Parliament
- Elina Lepomäki, Member of Parliament, The National Coalition Party Kokoomus
- Patricia Drake, Managing Director, MSD Finland
- Tor Stendahl, General Manager Nordic and Country Manager Finland, BASF Finland
Barometer story picked up by Finland’s most prestigious publications,
as well as followers on Twitter
Sample of relevant tweets:
- Vesa Marttinen: “Learned in #FutureWithFinland webinar: Foreign affiliates plan to boost the economy of Finland, but this will require little less talk and much from action from Finns.”
- Mervi Karikorpi: “.@BusinessFinland & @amchamwatch: Suomeen kannattaa investoida, mutta kilpailu #FDI’sta on kovaa. Tässä yritysjohtajien odotukset hallitukselle: – veroasteet alemmaksi – työmarkkinarakenteet joustavammaksi – varmistettava osaajien saatavuus”