Fast developing markets in Estonia. When and where to invest
Triin Vihalemm EMOR Ltd, Estonia
1. INCOME LEVEL AND CAPACITY OF CONSUMER MARKET IN ESTONIA
The Estonian consumer market, like those in many East-European countries, is characterised by relatively low average income and significant financial stratification. See Figure 1
According to the estimations based on the data from the Household Panel and other surveys conducted by EMOR, the Estonian consumer market reached the capacity of 2 billion US dollars in 1994. The upper class, making only I per cent of the population, gives approximately one-third or 0.7 billion...