Wednesday, May 23, 2012

Never mind 'stabilnost', Russia seen as growth area by European businesses

A recent poll has revealed that member companies of the Association of European Businesses (AEB) see opportunities for further growth in Russia in the next 6-10 years. The poll was conducted by GfK Rus in April-May 2012,
There were about 100 respondents, one-sixth of the total AEB member base.

The respondents also made it clear Russia has been performing largely according to or exceeding expectations. For 2012, most see their turnover, investments and profits going up. Almost two-thirds believe the market's attractiveness will not change because of the elections results, a sign of political stability indeed.

“European companies in Russia have good perception of growth perspective. And that may be different for those looking from outside,” said Stuart Lawson, Chairman of the Investment and Finance Committee, AEB, during presentation of the poll's results in Moscow.

Consumers, whose "middle-class consumerism", according to Lawson, is a “major driver”, were given the highest business culture mark by the respondents with just 1 per cent treating them negatively. Partners and subcontractors were quite behind but still fared well. On the other side, government officials, bodies and authorities were seen on average by 29% of the respondents as lacking business culture. Isn't this the area where corporate PR efforts need to go now?

UPD: Stabilnost' is Russian for stability, which Putin promised when running for President. The word has since been used in its negative meaning, similar to the word Zastoi (stagnation), used to describe the pre-Gorbachev USSR.