Ely Centre sees investment spike in Lapland

The Lapland Centre for Economic Development, Transport and the Environment (ELY) in a report designated Lapland as an important area for sponsored investment in the wake of the recent growth of China market in the area.

According to the report released on April 12, the visibility and attraction of Lapland have grown throughout the world.

The report said, “International cooperation and orientation to international companies require a way to recruit more staff with extensive linguistic and cultural knowledge.”

Tourism and industry are highlighted in the Lapland regional overview.

According to the Ely Centre, every fourth job in Lapland relates to tourism or international business or activities clearly related to them. The potential for new investments in the recycling and bio-industries is 10 times the current level.

The exploration and mining industries are also growing. For a couple years, the industries were quieter.

According to the centre, Lapland tourism is going to experience one of the best all-time winter periods. The end of spring will show whether this winter will be among the busiest of all times.

In particular, the number of individual tourists has grown from that in the previous years, and they are staying in Lapland for longer periods.

The strong growth has also increased investments in tourism and demand for labour. Workers are needed both for tourism services and in the construction industry. The field of tourism is having an especially hard time finding employees.

The number of jobs is also reflected in the population and unemployment figures. According to the centre, demographic trends are positive in these areas.

In Lapland in 2016, the unemployment numbers were lower for every month compared to those in 2015. Despite the better unemployment rate, there are still a high number of unemployed and challenging structural problems, reflected in increased problems in labour market mismatches.

The review also stressed the importance of transportation for Lapland. According to the centre, key factors include tourism and industry. Important transportation connections include both air and rail traffic.