Baltic States are not Bolt's main market at the moment - Bolt president

RIGA - The Baltic States are currently not the main market for the transport services and delivery platform Bolt, Jevgeni Kabanov, President of Bolt, told LETA in an interview.

"There are many European markets and even markets outside Europe that are much bigger for Bolt than all the Baltic States combined," he added.

Kabanov said that Bolt is currently present in 55 countries, including almost all European countries except Bulgaria, while outside Europe Bolt operates in 27 countries.

He added that Bolt is the market leader in most European countries, but this depends on what services are provided in which countries.

At the same time, Kabanov acknowledged that there is still a lot of room for growth in Europe, partly due to the very conservative regulation in Europe compared to other markets. "If you look at the three largest economies in the world, which are China, the US and the European Union, if you equate them in economic terms to one market, both China and the US are much bigger markets in terms of gross domestic product (GDP) and GDP per capita. However, there are still many restrictive regulations in Europe, so we believe there is still plenty of room for growth," said the Bolt President.

He stressed that Bolt is also expanding outside Europe. Last year, Bolt launched in several new markets - Thailand, Malaysia, Dubai and Egypt. Bolt also currently offers car-sharing services in Canada and electric scooters in the US.