Finland

Turku region means business

World’s biggest and most luxurious cruise ship, Freedom of the Seas, built at Aker Yards shipyard, Turku, Finland

The economy of the Turku region is both dynamic and diverse. The city’s identity has been influenced by a potent trading tradition since its founding days in the 13th century. This development has sustained a strongly rooted entrepreneurial culture and a focus on regional cooperation. The Turku region encompasses over 300,000 inhabitants and features some 15,000 enterprises. Over 60% of the region’s industrial production is exported.

Turku has always been a natural strategic location for business in Northern Europe. Today, 13 million people live along Route E 18 from Oslo to St. Petersburg, connecting four countries. Approximately 84 million people live within a 1,000 km radius of Turku. A new direct railway connection from Turku to Beijing, China, opened in 2006. By rail, cargo reaches Beijing in 16 days, at the same cost but twice as fast as by sea.

Maritime cluster is probably the best example of how the Turku region and all Southwest Finland can prosper in the face of global competition. The top position as the manufacturer of the world’s greatest luxury cruise liners for Royal Caribbean Cruises Ltd has been achieved with a high level of professionalism and expertise which has been honed to perfection through various networks. The maritime cluster of Southwest Finland includes approximately 400 companies with a total of almost 500 offices in the area. The turnover of the companies in 2005 totalled about EUR 4 billion.

The Turku Science Park is one example of the innovative spirit created through a regional network of business and educational institutions – there are three universities, 50 research centres, 13,500 experts, 750 companies and 100 start-ups currently participating in the Science Park. The focal areas at the Science Park are biotechnology and ICT. The majority of Finnish biotechnology companies are concentrated in the Turku region, which is an internationally acclaimed center of biotechnology research, product development and business.

European Capital of Culture Project provides vast opportunities

Turku is Finland’s candidate for European Capital of Culture 2011. The Capital of Culture status will increase the city’s appeal and attract visitors both domestic and international. During the coming years, operational pre-conditions for pursuing cultural endeavours will be improved, including artists’ work areas and funding for culture. Several building projects will be carried out, including the new main library building, which will be inaugurated in 2007. Plans are being made for a new congress and music center, and an entity called the Culture Quarter. It’s expected that in 2011 visitor volumes will increase 15%. The increased focus on culture in the region in the coming years is already starting to generate interest – and it will only grow during the next four years.

From the viewpoint of tourism, Turku can offer very diverse experiences. In addition to the Aura river and its environs, the Turku archipelago is simply one of the best-kept secrets in the travel industry. Featuring over 20,000 islands with gorgeous nature, the productising of the islands has been quite inadequate so far. Now there is co-operation with Sweden to attract more travellers to the “Scandinavian Islands”, the Turku archipelago and the larger Åland archipelago.

Potential for tomorrow

Turku region has a rather diverse business structure which protects it from sudden changes. Looking into the future, the creative industries and the travel industry in particular will enjoy remarkable growth – these sectors have plenty of room to expand operations and a lot of untapped potential. Employment development in Turku has clearly exceeded that in other Finnish metropolitan areas. The good economic outlook for the export-oriented technology industry, construction, trade and service sectors provides reasons to expect the favorable development to continue in the future as well.

Contact details:
TURKU REGION DEVELOPMENT CENTRE
Tel: +358 2 2627 777 Fax: +358-2- 2627 458 Email: region@turku.fi
Website: www.turkuregion.fi

 

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