Turun tunnin juna Oy - 27 February 2023
Turun Tunnin Juna Oy, in cooperation with the Boston Consulting Group, has carried out an assessment of the economic impact of the new train connection between Helsinki and Turku. The potential impact on Finland's GDP over 30 years is estimated to be around EUR 5-6 billion.
The evaluation is based on the overall effectiveness evaluation method developed on the basis of the Ministry of Transport and Communications' framework. The data and criteria used are based on evaluations carried out by the Finnish Transport Agency and on national and international benchmark projects.
The most significant direct and permanent impacts are travel time savings and changes in ticket revenues for business travel (EUR 750–810 million), increased economic efficiency through improved transport connections (EUR 160–310 million) and changes in labour supply (EUR 40–50 million).
In addition to the permanent impacts, a significant impact will come from the property investments that will be commenced with the large railway project, estimated to be worth between EUR 3.8 and 4.5 billion. The assessment of new land use was limited to Espoo's Hista, Vihti's Nummela, Lohja's Lempola and Kirkkonummi's Veikkola. In addition to the estimated impacts, there may be significant property development in the areas affected by the railway, for example in Kupittaa in Turku, which was not included in the assessment.
In addition to direct GDP impacts, the report assessed impacts whose direct economic value is difficult to quantify. These include improvements in the demographic sustainability of the affected area, increased tourism and international opportunities, and improved security of operations and supply in the event of disruptions.
A preliminary estimate of the construction costs of One-Hour Turku Rail Link amount to EUR 3.4-4.0 billion. The track plans for the project will be finalised during 2023, with the possibility of a decision on implementation to be made in autumn 2023. The decision will allow the project to apply for EU CEF support, for up to 30% of the construction costs.
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Turun tunnin juna Oy will commission reports to enable the construction of the project and to identify positive, negative and other impacts associated with the project.
On this page, you will find the reports completed during the planning project.