Among EU members Latvia stands out as a country with one of the lowest income levels, with the greatest inequality and poverty, and one of the highest emigration rates.
Latvia is an excellent choice for expats due to its affordable cost of living, friendly locals, and growing expat community. Riga, in particular, offers great amenities, job opportunities, and international schools for families.
In the EU Baltic states (Latvia, Lithuania and Estonia) in 2018 the population of Lithuania and Latvia were most subject to the risk of poverty and social ex- clusion — with 794 thousand people (29.6%) and 543 thousand people (28.4%) respectively.
Poland with a GDP of $585.7B ranked the 22nd largest economy in the world, while Latvia ranked 100th with $34.4B. By GDP 5-years average growth and GDP per capita, Poland and Latvia ranked 53rd vs 74th and 62nd vs 51st, respectively.
Among EU members Latvia stands out as a country with one of the lowest income levels, with the greatest inequality and poverty, and one of the highest emigration rates.
Countries that are in 'second world' are Estonia, Latvia, Lithuania, Poland, Bulgaria, Romania, Albania and more. These countries are growing economically but aren't quite to the level of developed countries in North America and Europe. These countries were once controlled by the Soviet Union.
The average monthly salary in Latvia is €1623 (about USD 1764). However, you must consider how education, experience, location, position, and industry impact salaries.
Orthodoxy predominates among the Latvian Russian population. As of 2022, the population of Jews in Latvia was 4,000, although some estimates are double this; there are 1,000 Muslims in Latvia.
But Latvians – while not overtly gregarious – are very friendly. Nearly all Latvians speak three languages well. In addition to their native tongue, Russian and English are widely spoken, even in the more remote areas. If you need assistance, ask!
Estonia, a small European country located near the Baltic Sea, is ranked as the cleanest country in the world. It scored 75.7 in the EPI 2024 report. It ranks highest due to its greenery, freshwater sources, clean air and water. The second country on the list is Luxembourg; it scores 75.1 in the EPI 2024 report.
The UK has six of the ten poorest regions in North West Europe in terms of disposable income (East Yorkshire and North Lincolnshire; Northern Ireland; South Yorkshire; Durham and Tees Valley; West Wales and the Valleys; and the West Midlands).
In pure dollar terms, the richest country by income is Switzerland with average annual earnings of more than $104,000 in 2024, the only country to average over the $100 mark. Singapore comes in second and Norway third with average earnings of $90,700 and $86,800 respectively for the same year.
Latvia's top 10 rich list for 2016 is dominated by bankers, with ABLV Bank owners Olegs Fils and Ernests Bernis topping the list of the 100 richest persons in Latvia for the fifth year in a row.
Since independence in 1991, the official language of Latvia has been the Baltic language of Latvian, a language closely related to Lithuanian. Latvian is spoken by the ethnic population, known as Letts, who make up 58.6% of the population.
Estonia ranks as the cleanest country in the world, with an impressive EPI score of 75.3. This small Baltic nation has earned its top spot due to its ambitious environmental policies, pristine natural landscapes, and exceptional air quality.
After 2000, the Baltic Tiger economies implemented important economic reforms and liberalisation, which, coupled with their fairly low-wage and skilled labour force, attracted large amounts of foreign investment and economic growth. Between 2000 and 2007, the Baltic Tiger states had the highest growth rates in Europe.
Latvia is a little cheaper than other European countries we have visited. However, it is more expensive than in Latin America. We keep tabs on travel costs for different countries as we roam the world. Check our travel costs by country list and see how much your next trip may cost.
The currency in Latvia is the euro. Each euro is divided into 100 cents. When you're buying currency for Latvia, look out for the currency code EUR. And once you're in Latvia, you'll see the symbol € used to show prices.
