SEB survey: Financial satisfaction and economic security of residents of Central and Southern Estonia is the highest among the Baltic states

The SEB Baltic Household Outlook shows that the satisfaction of residents of Central and Southern Estonia with their financial situation and their economic security is the strongest in the Baltic countries. In contrast, the financial satisfaction and economic security of the population of Ida-Viru County is the weakest in Estonia.

Both Southern and Central Estonia stand out with their high level of financial satisfaction. As many as 80 and 79 per cent of Southern and Central Estonians, respectively, are satisfied with their economic situation. Moreover, among the Baltic countries the people of both regions have the most confidence in the economy, supported by their savings, debt burden, adequacy and dynamics of income, and expected wage increases.

SEB Economic Analyst Mihkel Nestor comments on the situation as follows: “The satisfaction index of Central and Southern Estonia was perhaps one of the most surprising outcomes of the survey. It shows that besides high income, the level of satisfaction with the economic situation is also affected by the size of loan commitments. At the same time, real success stories can be found in the region: for instance, prosperous industry has now made Viljandi County one of the areas with the highest average wage in Estonia, surpassed only by Harju and Tartu counties.”

Compared to the Estonian average, people in both Southern and Central Estonia have the largest cash buffer. In both regions, 63 per cent of the population have sufficient savings to cover unavoidable costs for a certain period of time, should their regular income be interrupted. Moreover, a majority of people in both regions are able to afford all expenditures on the basic essentials, while also saving for a rainy day. For Southern and Central Estonia, the figure is 84 and 82 per cent, respectively. Over the past 12 months, incomes have increased to some degree for 40 and 38 per cent of Southern and Central Estonians, respectively. 

The map of the economic security of the residents of the Baltic states is available here:
http://www.seb.ee/balti-riikide-majandusliku-kindlustunde-kaart.

For more information:

Julia Piilmann
Communication Manager
Marketing and Communication Division
SEB Pank

Phone +372 665 5340
Address Tornimäe 2, 15010 Tallinn
E-mail julia.piilmann@seb.ee
www.seb.ee

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