The Baltic Sea Region
The Baltic Sea Region is one of the most dynamic regions in the world. The unique diversity of the region offers huge market potential and dynamic business opportunities, in terms of economic standards, industrial structure, cost levels, technological progress, labour access, skills and wages. With a population of some 100 million, the Baltic Sea Region (BSR) is one of very few areas in the world offering expanding consumer markets.
- The region is made up of nine countries and a number of metropolitan areas – Estonia, Latvia, Lithuania (the Baltic States) Sweden, Denmark, Finland, Germany, Poland, and Western Russia, with St Petersburg and Kaliningrad Oblast. More than half of the countries around the Baltic Sea have capitals on the coast, over the centuries many minor cities have also grown rich and important thanks to sea commerce, fishing and shipbuilding.
- The region boasts stable democracies, institutional structures favourable to business, proximity of markets, good infrastructure, high levels of education, strong industrial traditions and a shared history of co-operation and trade. As eight of the eleven Baltic Sea countries are Member States of the EU, the framework for cooperation has been widely extended, which represents a unique opportunity to establish the Baltic Sea Region as the leading growth and trading centre in the world.
- One great advantage of the Baltic Sea Region is the large, highly-skilled and competitively-priced workforce. Today, the BSR serves the knowledge economy with a higher share of its people than any other in Europe. The BSR countries also gain high rankings in INSEAD’s Global Innovation Index. For example, out of 132 countries examined, the BRS puts 5 countries in the top 30 (Sweden, Denmark, Finland, Germany and Poland).