Estonia vs Spain
A data-driven side-by-side: investment score, economy, business climate, political stability, and tax — to help you decide where to invest, incorporate, or relocate.
Overall: Estonia ranks higher
Estonia scores 78/100 on our composite investment index, ahead of Spain at 76/100. This blends economic strength, political stability, business climate, financial maturity, and growth outlook. Read the breakdown below to see where each country actually leads.
Category breakdown
76
Economic strength
Estonia leads
74
82
Political stability
Estonia leads
78
82
Business climate
Estonia leads
74
74
Financial maturity
Estonia leads
72
72
Growth outlook
72
Macro snapshot
43
GDP (USD bn)
-1538.8 bn
1,582
2.2%
GDP growth (%)
-0.3 pp
2.5%
$32,150
GDP per capita (USD)
-1130.0
$33,280
3.5%
Inflation (%)
+0.7 pp
2.8%
4.5%
FDI (% of GDP)
+1.7 pp
2.8%
20%
Public debt (% of GDP)
-87.7 pp
108%
1.4
Population (M)
-46.7M
48.1
Estonia — strong sectors
- IT & Digital9.8% of GDP88
- Financial Services5.8% of GDP75
- Electronics5.5% of GDP72
- Timber & Wood4.2% of GDP68
Spain — strong sectors
- Tourism12.0% of GDP82
- Renewable Energy5.0% of GDP80
- Automotive4.0% of GDP72
- Agriculture3.0% of GDP68
Frequently asked
Which is better for investment: Estonia or Spain?
Our composite investment index gives Estonia a score of 78/100 and Spain a score of 76/100. Estonia ranks higher overall, but the right answer depends on your sector and risk tolerance — see the category breakdown above.
Is Estonia a safer market than Spain?
Risk classification puts Estonia as safe (Strong fundamentals, stable governance, favorable investment climate) and Spain as safe (Strong fundamentals, stable governance, favorable investment climate).
Which has higher GDP growth: Estonia or Spain?
Estonia is currently growing at 2.2% per year, vs 2.5% for Spain. Spain has the faster headline growth rate today.