- A survey commissioned by Citadele bank reveals that many people in Estonia plan to go shopping in Latvia due to the recent increase in VAT.
- 47% of respondents had not thought about shopping in neighboring countries as a result of the VAT hike.
- Of those who had thought about it, 59% do not plan to go shopping in neighboring countries, while 41% have a plan.
- 2% of respondents plan to visit Finland, 21% plan to visit Latvia, and 18% plan to visit both Finland and Latvia.
- There are twice as many men as women among those planning shopping trips to Latvia.
- Valga County has the highest percentage of people planning to go shopping in Latvia, followed by Rapla County and Parnu County.
- 29% of people in Harju County plan to shop more in Finland and Latvia, while the share in Tartu County is 20%.
- Marina Hakiainen, head of retail banking at Citadele’s Estonian branch, warns that shopping in neighboring countries may not be cost-effective due to factors like fuel consumption and eating out.
- The survey was conducted in three Baltic countries, with 1,000 people interviewed in each country.
Source: baltictimes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
