The growth of Finland’s economy in the past fifteen years has been disappointing with our indebtedness growing at an alarming rate totaling today about 75% of GDP, according to Yle. If we were to point to the elephant in the Finnish room, it’s clear that our rapidly aging population and too few immigrants are the…
Tag: Aging population
Finland’s present demographic challenges are a threat to its prosperity
Finland will see dramatic changes to its population age structure in the next four decades, when the number of over-64-year-olds will soar by 941,000 to 1.639 million people, according to MTV3, citing Statistics Finland. Likewise, our labor force will shrink by an estimated 600,000 people in about 25 years. It is surprising, if not worrying, that the majority…
Lip service or action by Finnish municipal authorities?
The role of accepting refugees in remote municipalities as a way of slowing the number of people who move out of the community is a half-way solution to the challenging demographic problem facing many parts of Finland. While there is a lot of good will to accommodate refugees in their municipality, many of these people end up moving to bigger cities like Helsinki after short stay.
Finland’s challenge in the new decade
The new decade will either make or break Finland. If we are not successful at attracting labor immigrants to our country to plug the ever-growing number of pensioners leaving the labor market during the 2010s, the first one to feel the impact will be the economy.