In 2025, the Nordic region's business travel spending is forecast to reach 95% of its pre-pandemic level, with European business travel spending expected to pass its pre-pandemic level of $391.9 billion USD, reaching $414.9 billion.
Collectively, the region’s five countries – Denmark, Finland, Iceland Norway, and Sweden – business travels pending post-pandemic recovered more quickly than bigger European markets like the UK and Germany.
The region’s largest airport is Copenhagen, which served close to 30 million passengers in 2024 and is the central hub for international business travel. Helsinki Airport handled 15.3 million passengers in 2023, of which 88% were international travellers, underscoring Finland's connectivity in global business networks.
Economic resilience
Despite global economic uncertainty, the Nordic countries are set for continued growth, with interest rates, inflation, and wage growth stabilising. Growth in Denmark is fuelled by the pharmaceutical industry, with incomes rising and interest rates falling.
Sweden is expected to see signs of recovery this year, whilst Norway’s growth is driven by increased private consumption and investments. In Finland, the economy is gradually recovering, with growth accelerating as purchasing power increases and interest rates decline.
Biggest markets
In the Nordics, six business sectors account for most of the region’s business travel expenditure.
Manufacturing is the cornerstone of Finland's economy, encompassing electronics, machinery, vehicles, and engineered metal products. The services sector dominates the corporate landscape in Norway and Sweden, including business services, IT, and consulting firms, although the oil and gas sector also plays a pivotal role in Norway's economy.
The finance, insurance, and real estate sectors are Denmark’s biggest spenders on business travel, whilst both Sweden and Finland’s ICT sectors include telecommunications, software development, and digital services. While traditionally associated with leisure, the tourism sector is a significant contributor to business travel demand in Iceland.
Demand trends
Nordic companies prioritise eco-friendly practices, integrating green technologies and sustainable methods into their operations. For example, Denmark is a world leader in wind energy, whilst Sweden has set the pace in recycling.
Travellers are opting for eco-friendly option including green accommodation, whilst businesses are making these options available to boost their brand images as well as keeping their employees satisfied.
The region's robust technological infrastructure plays into the rise of digital nomads among professionals. This has enabled an increase in blended business and leisure (or bleisure) stays in different locations.
It’s a reflection of the value placed across the Nordics on maintaining a healthy work-life balance and is manifesting itself in travel decisions and policies.
As TMCs are upping their game to take advantage of Nordics technology infrastructure, 92% of business travellers are open to AI-enabled booking options, although only 13% currently utilise them, so there’s plenty of scope for growth.
Supply trends
Some airlines are revising growth strategies due to external factors. Norwegian Air plans to slow its 2025 capacity growth because of delays in Boeing aircraft deliveries. This may impact route availability and frequency, affecting business travel planning.
Hotels and serviced apartments are offering flexible booking options, enhanced in-room workspaces, and amenities that cater to extended stays, reflecting the bleisure trend.
TMCs are expanding their offerings to include comprehensive risk management, real-time travel updates, and personalised services to meet their corporate clients’ evolving demands.
