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Company briefs - 2013-02-21

Feb 20, 2013

According to a study carried out by consultancy enterprise G.P.Wild, the total impact of cruise tourism on the economy of the City of Tallinn and its nearby municipalities amounts to a total of 51 million euros, reports National Broadcasting. An average cruise ship passenger spends 56.7 euros during their visit to Tallinn, which is more than the average European indicator (53.13 euros), reported the Port of Tallinn. Principal expenses involve excursions (an average of 26.71 euros per passenger), local handicrafts and souvenirs (11.59 euros), clothing (5.83 euros) and food and drinks (4.81 euros). On the basis of OECD methodology and polling results, G.P.Wild also calculated the contribution made by cruise passengers to the Estonian economy. Last year, passengers and crew members spent 26.4 million euros in Tallinn and this directly caused 177 jobs to be created. Together with indirect impact, cruise passengers contribute nearly 51 million euros to the Estonian economy.

58.7 percent of companies, i.e., 5.3 percent more than last year, are planning to increase their marketing budgets, reports ELTA. Seventy-six percent of companies will increase spending on advertising online. According to a Lithuanian Marketing Association survey, the majority of companies intend to increase their marketing budget by 10 percent, whereas 5.3 percent of all the surveyed companies plan to double their marketing budget. Only one-fifth of companies - 21.3 percent - say they will cut marketing spending. According to Chairman of the Lithuanian Marketing Association Simonas Bartkus, last year it was predicted that for the first time ever global investment in online communication will exceed spending on marketing in the press. Annual growth on Internet advertisement spending is not bypassing the Lithuanian market.

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