Friday, April 13, 2007

The value of weather forecasting in Finland

Earlier this month, VTT (an impartial expert organisation whose objective is to develop new technologies and create new innovations in Finland) issued a report saying that the value of weather to society was a 5:1 ratio. That means, for every euro that Finland spends on weather, it gets 5 euro back in benefits to society. VTT estimates that the "expected total benefits with current information" is about 240-300 million euro. FMI's budget is 50 million euro, so that's where the ratio of about five comes from.

With "perfect information", VTT estimates that the ratio could go up to 10:1.

Further evidence that weather forecasting and research more than pays for itself.


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