5.8.2025 | Estonia

Are Finns to Blame for Tallink’s Losses?

Text Mikko Savikko

The Estonian business newspaper Äripäev published an interview on 24 July with Tallink CEO Paavo Nõgene, in which he commented on the company’s €2.5 million loss in the second quarter. “Estonia has become expensive even for Finns,” he stated. “The share of Finns among Estonia’s foreign tourists has dropped from 40% to 30%.”

According to statistics from the Port of Tallinn, Finnish tourists made up 41.9% of travelers in the first quarter of this year, and 43.7% in the second quarter (April–May). The Estonian central bank reported that the share of Finnish tourists in January–March was 41%.

So has Tallink really lost a quarter of its Finnish customers this year?

But as the Japanese and Chinese proverb goes: “A frog in a well knows nothing of the great ocean.”
Estonians say: “Loll on see, kes vabandust ei leia. Aga eriti loll on see, kes leiab lolli vabanduse.”
In English: “Only a fool can’t come up with an excuse—but a true fool finds a foolish one.”

To learn more about this and similar topics
Economy Estonia Tourism Statistics ferry travel Port Of Tallinn Statistics Tallink Tourism