Russia is a destination that many investors dream of, including me. I use the term dream not in the sense that it is impossible to go on this market, but in a sense that there are a few matters that must be considered: the huge size of the country and the people who do not speak English or any other foreign language so it is recommended to know Russian. The surest way to penetrate such a market is by an association with a local partner. I have chosen to first open an office in Kazakhstan, as a strategy to get into Russia. Online trading provides development opportunities here as it is a known fact that Russians like to trade.
In fact, there are two important facts that encourage me not to give up on the idea of developing an online trading business here: Russia has become the largest European country with the highest number of internet users – 61, 6 million and this number is estimated to go up to 80 million, showing that technology is not an obstacles for the Russians; the second refers to Russia being one of the largest consumption markets in the world, having a population of 139 million people. More precisely, the World Economical Forum 2010 – 2011 has acknowledged Russia as the ninth consumption market in the world in terms of size, and this represents an indicator of the middle class that has formed there. Anyways, a larger population means more chances for online trading to become popular.
Moscow was always the target of investors, but Russia’s second largest city Sankt Petersburg is becoming more interesting for business people, and even Sochi or other smaller cities with more than 400.000 inhabitants. I for one intend to open an office in Sankt Petersburg and I hope I will succeed in doing so as soon as possible. What I know for sure is that I shall not give up.