The annual financial impact of the port operations in Helsinki is over 4 billion euros

17.05.2019
News

The operations related to the Port of Helsinki, together with their multiplier effect, provided work for over 25,000 people. The annual financial impact of the port operations adds up to approximately 4.1 billion euros. This information is provided by the recent Port of Helsinki impact assessment carried out by the Brahea Centre at the University of Turku.

The Port of Helsinki is the largest port for general cargo and passenger traffic in Finland. In many sectors, companies’ business is connected to the Port’s operations and the cargo and passenger traffic going through the Port. The indirect effects of the Port of Helsinki are significantly larger than what is presented in the assessment and extend to a wider area, covering almost all of Finland.

Branch

Turnover value
(MEUR)

Direct employment (persons) Total employment (persons)
Storage and operations that serve traffic (including cargo handling, shipping and freighting) 1,047.8 3,002 7,506
Sea traffic passenger transport 688.0 2,727 4,772
Sea traffic cargo transport 632.9 1,192 2,086
Land traffic 510.2 2,004 2,886
Operations of travel agents and travel operators; reservation services 102.4 352 705
Authority operations   90 135
Total 2,981.3 9,367 18,090
       
Additions: MEUR    
Spendings by foreign passengers travelling through the Port 446.0 2,230 4,460
Spendings by domestic passengers travelling through the Port 211.0 1,055 2,110
Spendings by international cruise passengers 32.1 211 457
Company investments* 318.0    
Corporation tax income 1.6    
Municipal tax income 112.3    
Additions, total 1,121.0 3,496 7,027
       
All, total 4,102.3 12,863 25,117

*Mainly based on a five-year annual average by place of business.


Important connection for Finland’s foreign trade

The Port of Helsinki is the largest general port for import in Finland. It primarily serves Finland’s foreign trade shipments done in units, i.e. with containers, trucks and trailers. The cargo traffic transported via the Port mostly consists of semi-finished and finished products, which on average are more valuable than other goods in foreign traffic.
The volume of foreign goods traffic going through the Port of Helsinki is, in tonnes, approximately 14 per cent of the traffic of all Finnish ports. With unitised cargo, however, the proportion of the Port of Helsinki is significantly larger: approximately 40 per cent. The value of the goods is 43–54 billion euros, i.e. 40–50% of the value of all maritime transport in Finland.

The amount of goods in rubber-wheeled transport has increased in recent years, especially in import. The Port of Helsinki’s proportion of foreign shipments transported in trucks and trailers was 49.5% of the total of corresponding shipments in all Finnish ports in 2018, which in practice is as much as the shipments of other Finnish ports altogether.

The Port of Helsinki’s proportion of container transport was 31.9% of the TEU transported via all ports of Finland. Import and export are well balanced in container traffic.

Passenger traffic creates employment and brings income

The Port of Helsinki is by far the busiest and most versatile port of passenger traffic in Finland.  In 2018, a total of 12.1 million passengers travelled through the Port of Helsinki.

The Port of Helsinki’s market share of the total amount of passengers in mainland Finland’s sea ports is 81%.

The impact is significant for the supply of tourist services, the hotel and restaurant business, local and long distance traffic and retail, among others.

The total income for the region in 2017 from sea passengers who travelled through the Port of Helsinki was over 689 million euros.

Read the full Impact Assessment (unfortunately it is only in Finnish)

For more information, please contact:
Ville Haapasaari, CEO, Port of Helsinki Ltd
tel. +358 9 310 33500
ville.haapasaari(at)portofhelsinki.fi

*TEU = twenty-foot equivalent unit, a basic unit in container traffic based on the dimensions of one twenty-foot container.