Are Finns to Blame for Tallink’s Losses?

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