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INVESTMENTS

  • The main transport node between the West and the East, providing access to the European Union and the Eastern markets in Russia, the Commonwealth of Independent States and Asia.
  • Convenient international traffic infrastructure – Riga is reachable by plane from more than 80 cities around the world, by train – from Russia, Belarus and Estonia, by ferry – from Sweden, by bus – from more than 100 cities in Europe.
  • Significant regional transport and logistics centre. The Freeport of Riga provides direct connections to the main cargo consumption centres and production - processing regions in Russia and the Commonwealth of Independent States. The Riga International Airport is the largest international aviation company in the Baltic States, the main air traffic hub of this region.
  • Ambitious targets – the Sustainable Development Strategy of Riga defines that until year 2030 Riga will become internationally recognizable, important and competitive Northern European metropolis characterized by the high quality of life in the city, an innovative economy, smart and efficient resources management, as well as by modern governance with the active participation of the population.
  • Macroeconomic and political stability – Latvia is a member state of the European Union and the Eurozone that ensures the free movement of goods, services, capital and labour. In recent years, growth in Latvia is one of the fastest in the European Union.
  • Within 2014-2020 European Union funds programming period it is planned to invest 4.4 billion euro in the growth and development of Latvia.
  • Latvia is a full member in all the world's major economic and political organizations, including the North Atlantic Treaty Alliance (NATO) and the World Trade Organization (WTO). In 2016 Latvia also became a full member of the Organisation for Economic Cooperation and Development (OECD).
  • In The World Bank Doing Business 2017 survey Latvia is ranked in the high 14th place among 190 countries (6th place among the Member States of the European Union). The World Bank has recognized Latvia as one of the TOP 30 leaders that have made important reforms to improve the entrepreneurship.
  • Stability and reliability – in the end of 2016 the credit rating agency Standard & Poor's defined rating of Riga for long-term and short-term obligations as BBB+/A-2 level with stable rating future outlook.
  • Riga has a dominant role in the economy and in the business of Latvia. Out of 20 companies in Latvia with the highest turnover, 18 are located in Riga and 2 – Pieriga region. The newly produced value in the city of Riga is around 50 % of all the produced in Latvia.
  • The major national higher education institutions and public administration institutions are located in Riga, Riga is a transport highway node, and the international airport and the unfreezing port are located nearby.
  • According to the data on population, Riga is the largest city in the Baltic States – in 2016 639.6 thousand people lived in Riga, 532.8 thousand people – in Vilnius, 423.4 thousand people – in Tallinn. 32 % of total population of Latvia lives in Riga and it is the highest indicator on population concentration in the capital city among the Member States of the European Union.
  • 40 % foreign tourists in Latvia came to visit Riga. Hotels and accommodation places in Riga serves 61 % of the total number of tourists accommodated in hotels and accommodation places in Latvia and 78 % of foreign guests.
  • Educated labour. 43 % of the population of Riga has higher education and 31 % – vocational education or professional secondary education. During the last ten years, the proportion of those who have higher education has increased significantly.
  • Multilanguage speaking labour. 95 % of the population speak at least one foreign language, 54 % – at least two foreign languages, and 13 % – at least three foreign languages. 70 % of the population till 40 years know English.
  • Higher education and science centre. In Riga there are 46 higher education institutions and colleges where learn more than 77 thousand students, that is more than 80 % of all students in Latvia.
  • UBS Chief Investment Office study on cost of living in the world cities shows that Riga has the lowest cost of living among the Baltic States and one of the lowest among capital cities of the Member States of the European Union.
  • Assessments of population of the European Union capital cities on quality of life of their cities show that Riga has notable advantages – low noise level, convenient and affordable public transport, clean city, low crime rate.
  • Extensive recreation opportunities – 40 % are natural and water areas of the total city’s territory.
  • In Riga and its metropolitan region there are diversified cultural and entertainment opportunities (opera, theatre, a large number of museums, Zoo). During a year, there are more than 4 000 different cultural and recreational activities taking place in Riga.
  • The historic centre of Riga is included in the UNESCO World Heritage list.
  • Riga is a multinational city (46 % – Latvians, 38 % – Russians, approximately every fifth person – other nationality).
  • Pleasant climate – summers in Riga are moderately warm (average temperature in summer months does not exceed 20 °C) and winter months are also relatively warm (average temperature in winter months is not lower than 0 °C).
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