The Socio-Economic Impact Study by Steward Redqueen showed that in 2017 Estonians spent a total of 49 million Euros on Coca‑Cola products. The Coca‑Cola System added 34 million Euros value in Estonian economy as taxes, salaries and profits.
The General Manager of Coca‑Cola HBC in Baltics Konstantin Chouchoukhov said that there is a big emphasis on the local workforce in Estonia. “Baltics, Estonia included, is known for talent – our employees here are valued highly across our territories of 28 countries. Our tax contribution here is also significant, supporting the local economy and communities,” added Chouchoukhov.
34 million Euros value as taxes, salaries and profits created by Coca‑Cola System distribution activities in Estonia last year is equal to 0.16% on Estonia’s GDP. 17 million out of the 34 million Euros are tax payments, equal to 0.24% of the total national tax revenues. The 1003 jobs supported in Estonia last year is 0.16% of total employment, and every job at the Coca‑Cola System supported 8 additional jobs in economy.
Consumers spent a total of 49 million Euros on Coca‑Cola products in Estonia, and of every Euro spent 68% stays in the local economy. Out of 49 million Euros 8.2 million were government taxes (VAT); 20.9 million were margins for outlets which drives trade impact; 20.3 million Euros were Coca‑Cola HBC local sales revenues plus 1.7 million Euros Coca‑Cola Company expenditures which drives local sourcing impact.
Most jobs supported by the Coca‑Cola System are 804 employees working for trade partners and trade partners’ suppliers. 107 people work directly for Coca‑Cola in Estonia and 91 jobs are supported within suppliers and suppliers’ suppliers.
The study that provides insights into the value added and employment impact of the Coca‑Cola System in Estonia, Latvia and Lithuania in 2017 was conducted by Steward Redqueen, a Netherlands company advising organizations on impact and sustainability. The study quantifies the Coca‑Cola System’s impact along its value chain including suppliers of key ingredients and services and suppliers’ suppliers, The Coca‑Cola System (including The Coca‑Cola Company and Coca‑Cola Hellenic Bottling Company) and trade partners with suppliers of trade. The purpose of the study was to assess how the Coca‑Cola System’s business impact the economy and vice versa.
The Coca‑Cola System in the Baltic States include the value chain created by two companies: Coca‑Cola Baltic and Coca‑Cola HBC Baltics.