Foreign-owned companies create jobs and bring money to Finland
Business Finland and Amcham Finland have published a new Finland as a Business Location 2020 barometer.
According to the barometer, 44% of foreign affiliates are planning to increase the number of employees in Finland and 30% are planning to invest more in R&D between 2020 and 2021. These investments have also indirect impacts, as one new job creates at least two additional jobs and one invested euro generates three additional euros in value.
Foreign affiliates see Finland's business environment better than two years ago and more positively than Finnish companies. Societal stability and functionality, quality of life and digital infrastructure were seen as Finland's strengths. The main challenges were the same as two years ago: personal income tax, salary flexibility and labor costs.
Though only approximately one percent of the businesses in Finland are foreign-owned they have a big impact on the economy. In 2018 their total revenue was 96 billion euros and they employ almost 266 000 people, which is approximately 18% of all the people employed by businesses in Finland.
Future Finland: Towards the Ideal Business Location (Business Finland)