Tourism Developer 2024

Objective

To acknowledge companies that contribute to Estonia’s tourism economy through attractive tourism services and products and contribute to the faster development and wider recognition of Estonia as a tourist destination.

Who can apply?

Companies that are directly involved in offering tourism services and products, whose impact is wider than just their company and are an example to the whole sector are invited to apply.

Evaluation criteria and process

The following economic indicators are evaluated (comprising 25% of the final result):

  1. Increase in sales revenue in percentage in 2022-2023 (10%)
  2. Business profit in 2023 (5%)
  3. Added value1 percentage growth per employee in 2022-2023 (10%)

 

 

The company must show a significant achievement in the following areas (comprising 75% of the final result):

  1. A distinctive product, service or business model which also stands out in foreign markets (25%)
  2. The impact of the company’s activity to the image of the region, living and tourism environment and the tourism sector in general (e.g. you have found a solution for a missing service) (25%)
  3. The company’s outstanding activities and accomplishments in terms of implementation of the triple transition (digital, green and innovation transitions2) in the organisation as well as in society (15%).
  4. SDG3, ESG4, Green Key5 or general sustainable operating principles are being created or implemented and disclosed in the company (10%)

 

  1. Added value per employee = (labour costs including taxes + depreciation of fixed assets + business profit) / number of employees
  2. Innovation transition is the implementation of new, innovative and knowledge-intensive solutions and technological innovation in an enterprise – one possibility is for companies to work together with universities in conducting applied research.Digital transition is the introduction of automation, digital technologies, software or cyber-physical systems (internet of things, artificial intelligence, cyber security, simulation and digital twins, big data, virtual and augmented reality) and robots to reduce the need for human intervention. The Green Transition is a balanced transformation of society and the economy reducing the negative impact on the environment, strengthening the competitiveness of companies and creating a high quality of life for as many people as possible.
  3. SDG or the Sustainable Development Goals were adopted in 2015 by the United Nations as a call to end poverty, protect the planet and ensure that by 2030, all people have peace and well-being. See more: https://sdgs.un.org/goals.
  4. ESG or Environmental Social and Corporate Governance – an environmental, social and corporate governance framework that is integrated into an organisation’s strategy to consider the needs of all organisational stakeholders (such as employees, customers and suppliers and financiers) and find ways to create more value for them. It can be considered a set of management measures and standards through which it is possible to manage the impact of a company and its products and/or services on the environment, people and the economy.
  5. Green Key is an international eco-label given to accommodation establishments that follow the principles of sustainable development. Only establishments that comply with strict rules, which are checked by regular inspecting visitors, earn the label. See more: https://www.greenkey.global/