A new economic study was introduced which shows that the average monthly salary of people working for companies located in the fast-growing \u00dclemiste City in Tallinn rose above 2000 euros last year, making it 70% higher than the average Estonian salary.<\/p>\n
In 2017, the average gross salary was 1221 euros in Estonia and 1383 euros in Tallinn. But the new study shows that at the same time, the average monthly salary in the \u00dclemiste City reached 2077 euros. The average salary in the Estonian IT sector for the same period was 2613 euros while in the \u00dclemiste City, it reached 2940 euros.<\/p>\n
According to Mainor \u00dclemiste Supervisory Board member\u00a0Raivo Vare<\/b>, today, nearly 400 enterprises are actively operating in \u00dclemiste City \u2013 the first smart city in Estonia. More than 10 000 people work there on a daily basis, a number similar to the population of a town the size of Haapsalu.<\/p>\n
\u201c\u00dclemiste City is spearheading entrepreneurship in Estonia and this new study shows that the companies here create about 50% more added value than average companies. The creation of added value is the key component here as that is the main challenge for Estonia to overcome,\u201d said Vare. He also explained that the reason behind the above-average salaries being paid by the campus\u2019 companies is the fact that employees who create more added value need to be paid a higher salary.<\/p>\n
The study also took a closer look at the local IT sector. According to the study, 1.4% of all Estonian IT companies operate in \u00dclemiste City and at the same time, those companies hire 18% of all Estonian IT sector employees, pay for 26% of the sector\u2019s labour costs, produce 25% of the added value created by the sector and form 27% of Estonia\u2019s total IT export.<\/p>\n
The smart city study conducted by the Estonian Entrepreneurship University of Applied Sciences also shows that the 2017 turnover of the companies operating in \u00dclemiste City totalled 1.15 billion euros, of which export constituted 500 million euros. The companies earned a combined total annual operating profit of 75 million euros and their assets formed an end-of-year total of 1.6 billion euros.<\/p>\n
Tauno \u00d5unapuu<\/b>\u00a0from Estonian Entrepreneurship University of Applied Sciences\u00a0said that the long-term tenants of \u00dclemiste City have seen a greater-than-average rate of growth in their sales revenue, export, added value and net profit. \u201cIn Estonia and in Tallinn, Labour costs have generally followed the same trend that was seen in the previous years\u2019 studies, but the absolute level of the company labour costs in \u00dclemiste City continue to be significantly higher than elsewhere in Estonia,\u201d said \u00d5unapuu.<\/p>\n","protected":false},"excerpt":{"rendered":"
A new economic study was introduced which shows that the average monthly salary of people working for companies located in the fast-growing \u00dclemiste City in Tallinn rose above 2000 euros last year, making it 70% higher than the average Estonian salary.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-836","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"acf":[],"yoast_head":"\n