Analytics, Baltic, Business, Estonia, EU – Baltic States, Investments, Rating

Last year, companies of other Central and Eastern European countries deemed Estonia third in attractiveness after the Czech Republic and Poland, it appears from the survey.

Of the companies who have invested in Estonia, 86% would invest in Estonia in the future as well. Last year, this indicator stood at 88%.

Altogether 49% of the Estonian companies participating in the survey assessed Estonia's current economic situation as good, while 51% said it was satisfactory. With that, Estonian companies were more optimistic than Latvian companies and more pessimistic than Lithuanian companies. In these two states, the situation was deemed good by 34% and 61% of respondents, respectively, it appears from the survey.

In terms of future economic outlook, Estonian companies were more pessimistic than those of both Latvia and Lithuania. Only 14% of companies expect the state's economic situation to improve this year, while the corresponding indicator stood at 33% in Latvia and Lithuania.

Altogether 51% of Estonian companies expect an increase in revenue this year, while 54% plan to involve new employees and 38% intend to increase investments.

Estonian companies are estimating the increase in the company's salary to be 8.31% this year, while the indicator stood at 10.6% last year.

According to the survey, the assessment of Estonian companies regarding labor expenses and the availability of specialists is still noticeably below the average. Altogether 39% of respondents agreed that the availability of specialists is causing the rejection of additional orders.

The survey was carried out in 16 Central and Eastern European countries from February 1 to March 8.

The German-Baltic Chamber of Commerce, which lists promoting economic relations between German and Baltic entrepreneurs, advising businesses on entry into the market and interaction with institutions of the government as its objectives, has some 470 businesses as members.