🇸🇪 vs 🇫🇮
I’ve spent 18 years navigating the business landscape in southern Finland, but moving back home to Ostrobothnia has made one thing clear: we produce world-class quality, we have a high work ethic and good morals, but we are quiet about it.
Sweden invests more than twice as much
When we look across the sea, the data is eye-opening. Swedish companies invest more than twice as much per capita in digital marketing as we do in Finland ($204 vs $96, according to IAB Europe).
IAB Europe’s latest AdEx Benchmark points the same way. In 2024, Sweden’s digital ad market was worth €3.4 billion and Finland’s €751 million. Per person, that is about €323 in Sweden and €133 in Finland, or 2.4 times as much.
Digital ad spend per person in Sweden, 2024
Digital ad spend per person in Finland, 2024
Finland’s rank for digital ad growth among European markets, 2024
And the gap is growing. In 2024, Finland’s digital ad market grew by 1.3%, the slowest of the 30 European markets IAB Europe tracks. Sweden grew by 8.5%.
An investment or a cost?
In Sweden, marketing is seen as an investment in the brand and future sales. In Finland, and specifically here in Ostrobothnia, we still too often treat it as a cost that can be trimmed.
What I hear from over 30 CEOs
After meeting over 30 local CEOs and entrepreneurs lately, I see the same pattern:
- The product is king, but the brand is invisible. We have the best technology and the best craftsmanship, but if the world doesn’t know about it, we lose to a “louder” Swedish competitor with a potentially weaker product.
- Safety vs scale. We are masters of “playing it safe”, but to reach Swedish levels of international success, we need to dare to invest before the growth is fully realised.
- Marketing is strategy. In high-growth Swedish firms, the CMO or marketing director sits next to the CEO. Marketing isn’t just about brochures; it’s about business development.
- Marketing = growth. The purpose of marketing is to deliver growth, both short and long term. This means marketing should also play a key role in the board of directors. Which it rarely does.
From best-kept secret to growth region
Ostrobothnia has all the ingredients to be a global success region. We have the grit, the honesty and the delivery. But to take the next step, we need to stop being the “best-kept secret” and start investing in our growth with the confidence our neighbours do.
Are we too humble for our own good?
Let’s talk growth
If you want to talk about what investing in growth could look like for your company, get in touch. We’re happy to help.
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Sources
- IAB Europe: AdEx Benchmark 2024 Report (digital ad market size and growth by country, 2024)
- Statistics Sweden: Sweden’s population 2024 (10,587,700 at the end of 2024)
- Statistics Finland: Preliminary population statistics, December 2024 (5,637,214 at the end of 2024)
- Per-person figures: Genero’s calculation, market size divided by population.
About the author
Sebastian Östman
Sebastian Östman is a co-founder of Genero, a board member and an investor. He works on growth and AI-driven commercial development, and lives in Ostrobothnia.