A new Baltic business survey found that 97% of foreign investors would choose Estonia again, the highest result among the three Baltic states and a strong signal of confidence in the country’s business environment.
The result comes from the 2026 AHK Business Survey, which compared company sentiment across Estonia, Latvia and Lithuania, writes the German-Baltic Chamber of Commerce. For Estonia, the finding matters beyond reputation alone: it suggests foreign-owned companies still see the country as a credible base for exports, investment and long-term operations in the Baltic region.
The headline figures of 97% of foreign investors willing to choose Estonia again, 63% of companies expecting revenue growth and 48% forecasting export growth are a clear indicator of Estonia’s focus on long-term competitiveness, mentions Mirjam Eerma, Head of Investment Management at Enterprise Estonia.
Foreign investors keep backing Estonia
In the survey, Estonia outperformed its Baltic neighbours on the key “choose again” question, with Latvia at 72% and Lithuania at 93%. Companies also continued to rate Estonia strongly in several operating conditions that shape daily business decisions, including the digitalisation of public administration, communication infrastructure, legal certainty and the academic education system.
That result sits naturally alongside Estonia’s broader digital track record, where public e-services and secure data exchange have become part of the country’s economic value proposition. The AHK survey was carried out between 3 and 28 March 2026 and included 63 respondents in Estonia, 59 in Latvia and 62 in Lithuania.
Exports and revenue expectations stay supportive
The business outlook in Estonia was not uniformly upbeat, but it remained constructive in the areas that matter most for foreign investors. According to the survey, 63% of companies in Estonia expect revenue growth in 2026, while only 10% expect a decline. Export expectations were also stronger than the Central and Eastern European average: 48% of respondents in Estonia forecast export growth, compared with a CEE average of 39%.
That matters because foreign-owned companies often use Estonia as a platform for cross-border sales, services and higher-value development work. When both revenue and export expectations remain positive, it strengthens the case for keeping investment decisions anchored in Estonia.
There were also signs of resilience at the sector and company level. Some 41% of respondents expected their industry to improve this year, against 16% expecting deterioration, while 35% expected their own business performance to improve and just 6% saw conditions worsening. Estonia also stood out on research investment, with companies allocating an average of 7% of investment to R&D, above the CEE average.
Innovation depth adds to Estonia’s appeal
A second study, the 2026 FICIL Sentiment Index prepared by the Foreign Investors’ Council in Latvia together with RTU Riga Business School, points to a complementary strength in the region’s innovation base. The research combined feedback from 63 foreign investors in Latvia and 97 research community representatives across the Baltics, including 26 from Estonia, writes FICIL.
The report highlights AI and data analytics, digital products and services, process automation and sustainability innovation as key opportunity areas across the Baltics. For Estonia, that fits neatly with a business environment where digital capability is already a core advantage and where newer high-value fields such as enterprise AI and deep tech are gaining more attention.
Taken together, the two studies suggest that Estonia’s investment case still rests on a combination foreign companies tend to value most: a reliable operating environment, export potential, strong digital infrastructure and a growing innovation capacity.
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