Reval Hotels
Observer Eesti Oü

WEEK 10. 2005

Wednesday, 9th of March, 2005

Last year's turnover of Tallinn Stockmann department store exceeded EEK 600 million
Last year the turnover of Stockmann universal store reached EEK 605 million, which is 8% more than a year before. According to Finnish Stockmann group’s yearbook, the total net sales reached EEK 12,35 billion in 2004. Tallinn Stockmann turnover comprises 4,9% of total net sales of Stockmann group. In Russia, Stockmann turnover reaches EEK 1,6 billion and in Latvia - EEK 333 million.

EU’s biggest tourism growth was in Estonia
According to the statistics of accommodation establishments, Estonia had the biggest growth of tourism in the EU. Eurostat research “Tourism in expanded Europe” the number of overnight stays in Estonian accommodation establishments grew 30.2 percent up to 2.558 million nights in 2004 compared to a year before. In Poland, the number of overnight stays grew 29 percent and in Latvia – 15,5 percent.
Eesti Päevaleht, Ärileht, BNS

Thursday, 10th of March, 2005

Estonian Air earned a profit of EEK 29.5 million
In 2004, aviation company Estonian Air received a profit of EEK 29.5 million, which is much more than was estimated in the earlier announcements of the board.
According to the annual report of Estonian Air’s biggest shareholder Scandinavian SAS Group, last year’s total revenue of Estonian Air amounted SEK 552 million or EEK 955.5 million. In 2003, the company’s total revenue reached SEK 516; hence the total revenue has grown 7 percent.

Thursday, 11th of March, 2005

Baltic States to hold a leader’s position in the EU
The economies of Latvia, Lithuania and Estonia probably had the fastest fourth-quarter growth in the EU. Lithuania, the largest of the three Baltic republics, said its economy grew 7 percent in 2004. Latvia reported that its growth was 8.5 percent. Estonia said its fourth-quarter gross domestic product rose 5.8 percent. The combined USD 36 billion Baltic economy grew an average 6.7 percent last quarter, four times the pace of the 12 EU nations.

Estonia ranks on 25th in IT usage
Global Information Technology Report published by World Economic Forum and Insead has ranked Estonia 25th among 104 countries in terms of use of IT. Estonia's is highest-ranked among East European countries. Estonia's ranking did not change in a year. Lithuania was 43rd, up from 42nd a year ago. Latvia was 56th, down from 35th. The survey was prepared on the basis of statistics and interviews with 8,000 executives of large companies.

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