City of Tallinn
Tallinn is the centre of Estonian political and business life. With its population 400 000, the capital is the driving force of the country’s economy. The city is home to about half of all Estonian companies, which are responsible for ca 50-60% of GDP and nearly 3/4 of total business profit.
More than half of the companies operating in Estonia on foreign capital are located in Tallinn. The economy is closely connected with the neighbouring Scandinavian countries. This has attracted extensive foreign investments, facilitated the acquisition of modern expertise and boosted trade.
Moody’s has rated Tallinn with A3, comparing to the country’s rating A1. These ratings have contributed to Estonia’s place at 32nd in the IMD’s “World Competitiveness Yearbook” of 2007-2008 and 12thplace in the Heritage Foundation’s “Index of Economic Freedom” of 2008. The rankings also definitely help to support further growth. Like in many European countries and in American states, the economy in Estonia is also slowing down. The real growth of GDP in 2008 is -3,6%.
Intelligent Community Forum (ICF) recognized the city of Tallinn for the fifth time as one of the world’s seven (Top7) most innovative communities. The resulting recognition Top7 is the second phase of the contest of more than 400 competitors for the title of “Intelligent Community of the Year 2013”.