01.04.2026
ICT and tourism are driving the business cycle in Northern Ostrobothnia – recovery also in other sectors
Overall, the cyclical development in Northern Ostrobothnia has recently been cautiously positive. There is a clear dichotomy between the clusters: some are already at a high level after a long growth, while others have only just begun their turn to the better. Economic activity has improved in many areas, but employment developments lag behind.
The ICT cluster and especially the extensive tourism cluster stand out as the strongest entities in the region in terms of revenue growth. In these clusters, growth is not only recent, but has continued for several years. In the ICT sector, the strong development of net sales is combined in cooperation with a slight decrease in the number of employees, which points to the increasing use of artificial intelligence and automation to improve productivity.
The tourism cluster, which is sensitive to global changes and changes in purchasing power, has well maintained its position, but tourism in Northern Ostrobothnia has not been able to achieve exceptionally strong growth. International tourists have spotted the subdued development of domestic tourism.
Strongest growth in the wood and furniture industry
The wood and furniture industry sees a clear turn for the better. Revenue and personnel have turned to growth since the foundations experienced during 2024. The recovery is strong, but the level of the cluster remains low compared to the peak years, especially in employment.
In 2025, turnover in wholesale and retail trade grew by 1.3 per cent year-on-year. The number of employees grew more than turnover, by 1.9 per cent. In both cases, growth was concentrated towards the end of the year. One of the reasons for the growth in wholesale and retail trade is the general increase in purchasing power.
In construction, net sales have turned upwards towards the end of the year after a long period of weakness, but the number of personnel is still at a clearly lower level. So far, this development is more of a turnaround than a new rise.
In 2025, the seasonal variation in the metal industry has been exceptionally high. After the growth in the first quarter, net sales turned to decline, but the growth in the last quarter of the year was almost 15 per cent compared to the previous year. The number of personnel in the metal industry has not followed the growth in net sales, but turned to a decrease of less than one per cent compared to the previous year.
In the electricity and energy technology cluster, the level of turnover and number of personnel is slightly lower than in previous years, which has been caused, at least in part, by the stagnation of wind power construction in the region. However, the decrease in the number of employees has slowed down and net sales were already growing for several months towards the end of 2025.
More about the cycle: Business cycle monitoring - Regional Assembly of Oulu Region
