Helsinki is the capital and largest city in Finland. The Helsinki metropolitan area generates approximately one third of Finland's GDP. GDP per capita is roughly 1.5 times the national average, making Helsinki one of the wealthiest capitals in Europe. Finland is in Northern Europe, bordering the Baltic Sea, Gulf of Bothnia, and Gulf of Finland, between Sweden and Russia. The climate is cold temperate and potentially subarctic but comparatively mild because of moderating influence of the North Atlantic Current, Baltic Sea, and more than 60,000 lakes. The official languages are Finnish and Swedish (which is the mother tongue of 6% of the population). There are Lapp- and Russian-speaking minorities, while English and German are widely spoken. The main religion is Christianity. The economy of Finland is a highly industrialized, free-market economy with a per capita output equal to that of other western economies such as France, Germany, Sweden or the United Kingdom. The largest sector of the economy is services at 65.7 percent, followed by manufacturing and refining at 31.4 percent. Finns usually avoid small talk during business engagements, communicate in a direct manner and like to attend to business right away. Finnish does not have a word that directly translates to ‘please', and may at times forget to use it while speaking in English. Finns are generally a quiet people, and are comfortable with long silences in conversation. Finnish business dress tends to be formal. Men and women typically wear dark suits in the winter and light ones in the summer, however this can vary from one company to another. The security risk for expatriates in Finland is low. Risk is mainly driving in winter. The currency of Finland is the Euro (EUR). Banking is on a par with that of Western Europe and North America. Medical facilities are good, however the cost of treatment for expatriates from outside the EU can be high. Organs, tissues and cells may be removed in Finland for the treatment of another person if it can be assumed that the deceased has not / would not have objected to the measure when alive. The population of Helsinki is 1.5 Million (2019 est.), while the inflation rate (CPI) is 1.2% for Finland as at May 2019. Xpatulator Hypothetical Tax for Finland is based on the current personal income tax rates which are progressive up to 31.25%.
Cost Of Living
The cost of living for expatriates / professional migrants in In Helsinki, the cost of each basket, based on local prices, compared to the international average, is categorized follows (Exact cost of living percentages only available in personalised reports): Helsinki as at 1 July 2019 is very high in comparison to other places in the world. 1) Alcohol (where available) & Tobacco: Very High 2) Clothing: Very High 3) Communication: Low 4) Education: Average 5) Furniture & Appliances: Very High 6) Groceries: Average 7) Healthcare: Average 8) Household Accommodation: Average 9) Miscellaneous: Very High 10) Personal Care: Average 11) Recreation & Culture: Very High 12) Restaurants Meals Out and Hotels: Very High 13) Transport: Very High Helsinki is for example 18.5% more expensive than Houston TX for groceries, 17.1% more expensive for household costs than Kuala Lumpur, and 129.3% more expensive for transport costs than Dubai. The hardship premium for Helsinki for an expat from Perth, is for example 0%, i.e. host location (Helsinki) premium of 10% minus home (Perth) location premium of 10%. Helsinki is ranked as a minimal hardship location. Want to know more about cost of living, hardship (quality of living) or expat salary in Helsinki? Register subscribe to your home location and Helsinki and run your personalised reports.