The main economic potential of the country is concentrated in the capital Riga, which generates more than half of the GDP and where over 60% of Latvian companies operate. In general, the standard of living in Latvia is noticeably lower than in most of the EU member states.
Riga and Jurmala are considered the most popular cities for immigration and living. By the way, today it is possible to obtain a Latvian residence permit with the help of investments (from 250 thousand euros) in the purchase of real estate or financial investments, for example, in local credit institutions or interest-free bonds. Let’s highlight the positive and negative aspects of living in the Latvian territory.
The pros of living
- Living in Latvia is much cheaper than in more developed European countries.
- Latvia is a beautiful country with interesting architecture, quite a comfortable climate, and delicious cuisine.
- Riga is the most important transit hub for the Baltics. Great place to do business.
TOP 5 best cities to live
Latvia is part of the European Union, so residents can enjoy all the advantages of this association, including the free movement of labor, capital, goods, and services. It has a lot of beautiful and well-developed cities.
#5 Jurmala
Jurmala closes our rating of the best cities to live in Latvia. This is a very beautiful settlement located on the shores of the Gulf of Riga, in which about 54 thousand people live. A calm and comfortable resort town with many beaches, health resorts, and other places for active and passive recreation. It has clean air and beautiful architecture.
#4 Liepaja
About 85 thousand people live in Liepaja. It is a port city located on the Baltic Sea coast in the southwest of Latvia. A good place to work in Latvia and obtain a Latvian residence permit. The city is in dire need of skilled labor from abroad. The climate here is quite comfortable for living with mild winters and warm summers.
#3 Jelgava
More than half of the population is Latvian. The city is located 42 km. from the capital of Latvia. Jelgava has an excellent geographic location at the intersection of six motorways and five railway lines. An important industrial, administrative, educational, and cultural center. Many expats prefer Jelgava for living in Latvia.
#2 Cesis
A small and cozy town attracts immigrants from everywhere. The history of Cesis is more than 800 years old. It has been recognized as a city since 1323 and boasts a rich cultural and historical heritage. Library, stadium, medical clinic, schools, universities, sports facilities. In Cesis, a system of secondary and higher education is quite strong for a small town – two gymnasiums, branches of several Latvian higher schools. The city tries to attract IT specialists, teachers, doctors, and other professionals.
#1 Riga
The best city to live in Latvia in 2021 is Riga. The population of the capital is about 641 thousand people. The largest city in the entire Baltic region. Riga is considered to be an excellent place to work, do business, and study in Latvia. More than half of the working-age population works in Riga. Besides, the best Latvian universities are located here. The center of Riga is full of architectural and historical sights.
Outcome
In conclusion, we note that the average life expectancy in Latvia is 75 years. The country has relatively low taxes and affordable property prices. At the same time, before taxes, the average salary in Latvia in 2021 is 1,100 euros per month. After all the required deductions, about 812 euros remains.