Analytics, Baltic States – CIS, Estonia, EU – Baltic States, Financial Services, Investments

"We see that Russian investors want to invest here right now even more," said the chief economist at Nordea Bank Tõnu Palm. He added that Estonian real estate continues to be a safe haven for Russian investments.

Swedbank's chief economist Tõnu Mertsina also added that the share of Russia's direct investments in Estonia during the first half of the year has rather improved.

"It is clear that Russian capital flees from the country and the closest civilized society is here," said economic analyst at SEB Ruta Arumäe.

LHV Bank's economic expert Heido Vitsur said about Western investors, that if Estonia becomes, due to the Russian crisis, the Eastern border of Europe where one cannot get through, then the interest in investing here will disappear.

The second problem he pointed out was workforce. Finnish entrepreneurs who find the 10 people and small companies whom they need can manage here. "But how to guarantee bigger investments adequate workforce? I do not see a good solution in either place," admitted Vitsur.

According to the Bank of Estonia, in June last year, the Russian direct investments in Estonia amounted to 671 million euros and in June this year 784.7 million.