As announced by E-Residency Department of Estonia on 1st of September 2022, E-Residency population surpassed the population of the second largest city in Estonia with 94,892 e-residents.
With that important announcement, we wondered and wanted to check the effect this number on Estonia's business environment in detail. We saw that in the last 7 years Estonian business environment is growing and changing.
According to the business data insights of Welcome Center Estonia, a big-data company focusing on business market analysis, there is a remarkable growth on Computer Programming Activities and Business and Management Consultancy Activities sectors compared to previous years, as well as Computer Consultancy Activities in Estonia since last 5 years.
From January 1st 2022 to October 10th 2022, 1200 new Business and Management Consultancy Activities sector related companies were created in Estonia, followed by Computer Programming Activities sector with 1197 new companies. The third in our list is Construction of residential and non-residential buildings with 642 new companies, whereas both Rental and operating of own or leased real estate and Hairdressing and other beauty treatment sector shared the same amount of 584 companies.
Last year between the same time frame it was 1145 companies in Computer programming activities, 1139 companies in Business and other management consultancy activities and 926 companies in Retail sale via mail order houses or via Internet areas. Those are followed by 805 new companies in Construction of residential and non-residential buildings and 745 new companies in Rental and operating of own or leased real estate sectors.
The companies founded by e-residents also increased in the same time frame.
Also, according to Welcome Center Estonia’s data biggest tax payers as of 2022’s Second Quarter are SOTSIAALKINDLUSTUSAMET, OLEREX TERMINAL AS, NESTE EESTI AS, PHILIP MORRIS EESTI OÜ, EESTI ENERGIA AS, PENSIONIKESKUS AS, EESTI TÖÖTUKASSA, SANITEX OÜ, SISEMINISTEERIUM and ALEXELA AS
This data was collected by Welcome Center Estonia's Business Intelligence Panel at a time prior to the writing of this article to reflect the general trend.