About 41% of the foreign-owned companies in Finland are located in Helsinki and about 71% in Helsinki.
In the Helsinki region, only 3% of the more than 100,000 companies were foreign-owned in 2021, according to the report. The companies employed about 26% of the region's private sector workforce. The total turnover of foreign-owned companies, which was €52.5 billion, was 27% of the turnover of all companies in the region. Finland is lags behind in the number of foreign-owned companies despite its growing market share.
Helsinki, the capital city of Finland, is the country's hub for international business. About 41% of all foreign-owned companies in Finland have decided to establish their operations in Helsinki. Foreign-owned companies accounted for 24% of all employees in Helsinki's companies in terms of employment. Their contribution to the total turnover of Helsinki's companies was 24%.
The report identifies wholesale and retail trade, information and communications technology, ICT and the manufacturing industry as the most significant sectors for foreign-owned companies in the Helsinki region. Helsinki's economic structure is more service-oriented than the rest of the country, with a greater emphasis on the information and communications sector than other sectors. The wholesale and retail trade and manufacturing sectors are important in Helsinki's neighboring municipalities, where there is ample space for large logistics centers, and property prices are more affordable than in the centre of Helsinki.
Foreign-owned wholesale and retail companies employed 26,000 people in the year 2021, foreign-owned manufacturing companies employed 18,000 people, and foreign-owned information and communications technology companies employed almost 15,000 people in the Helsinki region.
Sweden and the United States are the largest foreign owners of companies in the Helsinki region. Swedish-owned companies represent about 24% of all foreign-owned companies in the Helsinki region. The United Kingdom, Germany, and the United States are the largest foreign owners after Sweden.
The report shows the importance of foreign-owned companies in the Helsinki region's economy. By providing employment opportunities and contributing significantly to the region's total turnover, these companies play a vital role in the region's economic growth. The Helsinki City Council must encourage foreign-owned companies to invest in the region to improve the region's economic prosperity.