8 reasons to invest in Pärnu
Andres Hallhead of the company auto24Pärnu, Estonia
Auto24ring is a world-class track
The reason for auto24ring being located in Pärnu County is primarily historical and administrative. A place similar to a race track has existed there for decades and the local government (Audru rural municipality at the time) very much wished for it to be turned into a real race track.
“Being tourists, our clients are more financially secure on average, and therefore bring in more money than ordinary visitors – by staying at hotels, eating in restaurants and making the most of the entertainment and other services offered in Pärnu. Our clients often come here because they are visiting the race track. The other way round – coming to Pärnu for a holiday and visiting the track – is more rare” – says the head of the company Hall.
Hall claims that the most important ‘investment’ for the race track to be created was faith that it was possible. “Before me, many people had tried to establish a contemporary race track in Estonia, but without success. When I was getting started, I was almost always told it wasn’t possible and that I was crazy. But, luckily, the decision was right, and I haven’t regretted it,” says Hall.
“The race track will never be completed! At the moment, the development of the industrial park surrounding the track is ongoing. We also have a project for a new world-class motocross race track, which will be inside the current track. In addition, we are looking at building stands and spectator areas,” says Hall about investments.
“As an investment environment, Pärnu is very specific in its services and products due to its status as the summer capital of Estonia. Clients and the market are oriented towards entertainment, a major problem Pärnu has is its seasonal nature. One thing Pärnu desperately needs more of is convenient transport connections. “But it’s evident that this gap will be bridged in a number of ways in the coming years. That means Pärnu will stand out and become more attractive as a destination, which in turn means that now is the perfect time to invest in Pärnu,” is Hall optimistic.