Finland Calling: The Present and Future of Boating Seen From the North, But Looking at Opportunities and Threats for the South
Let’s face the truth, I keep going there, but we really have little to do with them.
Finland is far away, the Finns speak an incomprehensible language, and their boats are generally small: 90% of the boats sold do not exceed 7 meters.
Moreover, they are practical and especially made of aluminum.
Perhaps just for the hull, while the deck remains fiberglass, like the Yamarin Cross or the AMTs.
If you are missing pieces that make sense of the above, here is a summary of what Finnish boating is all about.
Jokes aside, despite all the objective differences mentioned above, the annual trip to the Vene Båt, the main winter boating show in Finland, makes a lot of sense even for us Mediterraneans. And in the end, you also find four lessons that I give you after my latest visit to those lands. First, let’s start by saying that a vital and structured industry like the Finnish boating industry can become a fierce competitor as soon as it starts to present Mediterranean-style boats in terms of shapes and sizes. Do Axopar and Saxdor ring a bell?
And watch out for Quarken which might follow the same path, especially now that they are growing in size. And you’ll see the XOs.
Just as it can become a real market the moment our products start to gain credibility over there.
And as we know, often more than the thing itself, it’s how you sell it. Later sell the Beneteau case. And what happens there can give us an idea of what we can do here to expand the market towards a broader audience, with less luxurious boats and more for spending a day at sea, without the need for unnecessary frills or ostentation.
In Finland, boating is an activity that involves almost the entire population.
And the recovery of the demand for small and medium-sized outboard boats depends on consumer confidence in their own economy.
And it’s not that they don’t like beautiful things, huh?! In the section dedicated to classic boats, among others, three restored Rivas were displayed.
An adventurous and sporty note, at the Vene Båt there was also a new rowing boat on display with which Jari Saario intends to circumnavigate Cape Horn and then continue to Cape Town, South Africa.
“Last year we received feedback that there were too few small boats at the fair.
This year, however, we have more, along with large sailboats – for a total of five yachts. The goal of the Boat Show is to inspire even those who dream of boating, and our message is clear: boating is a fantastic way to socialize and enjoy nature.
It’s not a difficult nor necessarily expensive activity, as nautical clubs offer the opportunity to go out to sea even without owning a boat.
This year, no less than 28 nautical clubs participate by presenting their services and inspiring visitors to approach the world of boating,” explained Kalle Mäkelä, Sales Manager of the Helsinki Expo and Convention Centre. “At the fair, everyone is guaranteed to find the boat that suits them.”
So, not just a market, but ways to go to sea.
Over 400 boats displayed, which means about one sixth of the boats sold last year, proof of how much the Finns believe in the potential of promotion even when the market is a bit sluggish: it can’t snow forever, right?
Let’s see the novelties displayed, among total debuts and premieres for this market: AMT 150 R, Aquador 400 HT, Faster 465, Max 55, Quarken 35 Sport Tourer, Rocky 50, Saxdor 340 GTWA, Silver Hawk SCX and BRX, Silver Condor Cabin, Suvi 63 T-Top, XO EXPLR 44 and Yamarin Cross 55 BR.
Worth mentioning separately is the Yamarin Cross Concept 62 BR, possibly the most sustainable boat in the world that could go into production. Whether it will depends on the market response, but in the meantime, they—Inha Works Ltd (the holding company of Yamarin, Cross, and Buster) and EKA Composite, the company responsible for their composite manufacturing—have given it a try.
And then Anytec 860 T, Arronet 18.5 SPO, Arronet 25 Arrofoil and Arronet 26 Surprise, Boston Whaler 250 Outrage, Highfield Sport 560 & 760, Nordkapp Coupe 780, Pioner Go, Sting 470 Pro and Virtue V10 Cabin.
It’s curious to note that there’s not a family name.
How many do you know if you exclude those you’ve also seen in Genoa or Cannes?
If you know more than five shipyards, it’s probably because you’re Finnish or you sell them something.
Here too, pay attention to the still unknown names that might start to spread in our basin. Competition for our shipbuilding, but also opportunities for our dealers, who might be looking for boats that we no longer build here (especially at these prices).
Big boats are not seen much here, 45′ is the maximum size that Finnish navigators consider, judging by tradition and exhibition.
Larger boats are rarely seen, the Sunseeker Manhattan 55 was the queen of the fair. In fact, there was a line to visit her.
And here, unlike what happens in Mediterranean boat shows, people were allowed to board, proving how different their approach is from ours.
Finns sail to go every weekend from the city where they live, mostly Helsinki, to their summer cottage (there are about 500,000 of them, or one for every three families).
Once there, they move among the tens of thousands of islands available.
For them, staying moored in the same place for a day, as we do in the south, is inconceivable. And the primary function of fast commuter, as a means of transport, makes the motorboat the preferred choice (also a bit because of the Finnish passion for speed: think about how many drivers come from up there).
For this reason, despite the fact that Baltic and Nautor, two of the most famous sailing boat shipyards, were born here, the total wind units sold domestically are fewer than the fingers a human can flaunt.
And only one is a Swan, a 48, while the most appreciated brand was Beneteau, with 4 registrations, including the Beneteau Oceanis 51.1 which, with its 16 meters, was the largest boat registered overall. As they say, if they like the product, they’ll buy it even if you come from another country.
2024 was the worst year since 2008. 2631 boats sold: a reduction of about 20% compared to 2023 and over 50% less compared to the post-covid peak of 2021.
However, the turnover of companies in the nautical sector has only dropped by 10%: fewer boats sold, but larger ones: the rich getting richer, the poor getting poorer?
According to Jarkko Pajusalo, CEO of the Finnish Marine Industries Federation Finnboat: “Consumer caution and weak purchasing power were particularly evident in sales of the most popular class, namely small outboard boats.”
The most sold brands are practically unknown to us: Buster in first place with 350 boats registered followed by Suvi with 184 boats and Faster in third place with 180 boats. Silver, Yamarin, and Terhi have exceeded 100 new registrations.
And it’s interesting to note how around here, notoriously with a very short summer season, the jet skis sold are always about a third of the motorboats, last year there were 653, of which 560 were Sea Doo, the other 90 divided between Kawasaki and Yamaha.
Instead, the dinghy is always struggling, with only 31 units sold against 51 in 2023, but it continues to be considered, in 2021 the year of recent maximum market splendor, as many as 107 Finns chose an inflatable boat.
I haven’t seen an Italian exhibitor, because since we’re still the world’s leading producers? It’s interesting to note how the used market remained particularly lively with a trading volume 10 times greater than the new: 23,506.
From which it emerges that: “boats are among the most long-lasting consumer capital goods in the world, which means they change owners several times during their lifecycle,” Pajusalo pointed out to me.
Neighboring markets began to regain momentum in the second half of last year, although more slowly than expected, emphasizes Pajusalo, and the gradual recovery of purchasing power thanks to the reduction in the cost of money is expected to improve the situation.
Who buys Finnish boats and therefore does not buy ours?
According to customs statistics, the value of Finnish boat exports dropped by about 24% in the January–November 2024 period compared to the previous year, while in terms of numbers the reduction was 39%.
An indicator that the market contraction was a bit global and that however, the small ones suffered more than the big ones.
Anyway, over 3,000 boats were exported to 45 different countries.
In quantitative terms, exports decreased by 39%, while the overall value dropped by 24%. The United States became the main destination country in terms of value, with exports reaching 45 million euros, 35 of which were due to sailboats (that’s where the Nautors and Baltics go).
Norway was ranked second, with a 42% drop in the number of boats exported and a 44% reduction in value, totaling 32 million euros.
Sweden occupied third place: the exported value decreased by 58% and over 1,200 boats were delivered, for a total value of 28 million euros.
As they say: in Scandinavian countries, where boating is mostly small, the trouble was common.
Proof that Finnish sailboats are a good for wealthy yachtsmen are the destinations, after the USA come the Cayman Islands (14 M€), Norway (13.5 M€), France (13.2 M€), and Germany (12 M€).
This table gives us an idea of how much the
markets are worth and what boats are bought in those markets.
And this is also valid for us as manufacturers.
Export statistics for the 10 largest destination countries
- USA: 45.1 M€; 66 units; growth of 138.1%;
- Norway: 31.6 M€; 881 units; change −44.5%
- Sweden: 27.6 M€; 1,265 units; change −58.0%
- Germany: 21.7 M€; 183 units; change −6.6%
- France: 20.0 M€; 24 units; change −13.5%
- United Kingdom: 18.9 M€; 81 units; change −35.5%
- Cayman Islands: 14.4 M€; 2 units
- Switzerland: 10.2 M€; (units not specified); change −46.7%
- Turkey: 10.1 M€; 49 units; change +36.7%
- British Virgin Islands: 8 M€; 7 units; change +135.0%
- Total exports: 252.6 M€; 3,012 units; change −22.6%
Imports decreased by 35%
The main country of importation of boats remained Mexico, from which 997 boats were imported, mostly jet skis.
Most of these were cleared in Finland to be then re-directed to other European markets. Imports from Mexico decreased by 46%.
The second country of importation was Poland, where in the January–November 2024 period imports fell by 34%, totaling 7.8 million euros and 107 boats.
From Sweden, 109 boats were imported, for a total value of about 3 million euros.
Import statistics for the five largest countries (Jan–Nov 2024)
- Mexico: 11.5 M€; 997 units; change −46.0%
- Poland: 7.8 M€; 107 units; change −33.8%
- United Kingdom: 4.0 M€; 234 units; change +59.6%
- Sweden: 3.6 M€; 109 units; change −15.0%
- France: 0.9 M€; 3 units + 1752%
- Total imports: 35.6 M€; 288 units; change −34.8%
Outlook for 2025
As usual, Finnboat has collected estimates from its members regarding turnover and end-of-year situation: 43% of companies believe that turnover will remain unchanged; 44% foresee an increase in turnover; 13% expect a decrease. A sign that they believe the bottom has been reached and that tomorrow is another day.
In conclusion, what can we learn from this story?
That people go to sea if initially you take them there: first as children and then with initiatives that allow you to go to sea with a boat even if you don’t have one and maybe with someone who teaches you: why is it so difficult to find someone who explains how to “drive” a motorboat?
Second, that the world thinks differently depending on cultures, latitudes, and geographical circumstances: why have English and French shipyards seen a huge plus sign in their “sales in Finland” box and if there is a dealer selling Sunseekers it’s perhaps because those shipyards make themselves seen around here?
Third, that up there there are a lot of people who produce boats that are very suitable for a market like the one down here, open boats, motorboats, launches: designed for sailing and very well finished with competitive prices: why not take the opportunity to propose them also in our waters?
Fourth: the fisherman is having incredible success, despite the reduction in numbers these types of boats have registered a +46%: Italian fisherman builders aren’t you thinking of taking advantage of it?
