The last decade has been a rollercoaster for the Baltic countries Lithuania, Latvia and Estonia. Whilst the 1990s were a time of severe economic and social changes and the three countries were struggling to make the transition from socialism to capitalism, the first years of the new millennium saw the Baltic states really start through.
After joining the EU in 2004 the economies of the “Baltic Tigers” continued to grow in leaps and bounds, with growth rates exceeding those of many western European markets. Then came the financial crisis of 2008/2009 and like most European countries, Latvia, Lithuania and Estonia were hit hard. For a few years things looked very bleak but now the countries are well on their way to recovery.