Latvia
Latvia is a Baltic state located in Northern Europe, bordered by Estonia to the north, Lithuania to the south, Russia to the east, and Belarus to the southeast. Its strategic position on the eastern coast of the Baltic Sea has historically made it a...
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With a safety index of 64/100, Latvia offers good safety conditions for expats and their families.
Latvia, as a Schengen Area member, allows visa-free entry for citizens of over 60 countries, including the United States, United Kingdom, Canada, Australia, and many others, for short-term stays of up to 90 days within any 180-day period for tourism, business, or transit. This limit is cumulative across all Schengen countries, so time spent in other Schengen states counts toward the total. Passports must typically be valid for at least 3-6 months beyond the planned departure from Schengen, with at...
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5% above EU avg
Near EU average
9% above EU avg
21% above EU avg
Baselines based on EU averages. Source: Numbeo indices.
Capital
Riga
Timezone
UTC+02:00
Area
64,559 km²
Population
1,901,548
Latvia shows a purchasing power index of 85/100, indicating excellent economic conditions for expats.
GDP
$41.15B
HDI
0.9
Quality of Life
73/100
+30 vs NYC
Purchasing Power
35/100
-7 vs NYC
Understanding the economic landscape is essential for evaluating living costs and opportunities in Latvia. This comprehensive overview covers key financial indicators including cost of living, housing markets, income levels, and fiscal policies that shape daily life and long-term financial planning.
Cost of Living Index
Moderate costs (CPI: 51.9). Groceries (47.4), restaurants (54.3) affordable vs NYC=100; lower than Western Europe.
Housing Market
Property prices average 9.2 years of household income. Rent index (11.1) very low, with urban-rural variations.
Average Income Levels
Purchasing power index of 78.4 indicates below-average buying power. Average wages around €1685 gross monthly in 2024.
Tax System
Flat income tax 20-31% (progressive elements), VAT 21% standard (12% reduced). Low property taxes; simple, competitive system.
Business Environment
Ranked 19th in World Bank's Ease of Doing Business (legacy). Strong startup ecosystem in Riga, low bureaucracy, EU single market access.
Social Security
Universal healthcare via NHS, state pensions, unemployment benefits up to 65% salary. Comprehensive family support; high HDI 0.863.
Latvia experiences a temperate oceanic to humid continental climate, heavily influenced by the Gulf Stream and proximity to the Baltic Sea. The country has undergone significant climate shifts, with western coastal regions transitioning from boreal to temperate zones.
2 distinct climate regions — see full guide for details
Read full guideLife Expectancy
74.5
Population
1,901,548
Religions
Ethnic Composition
Research in Progress
We're currently analyzing expat perspectives for Latvia. Check back soon for insights from real experiences!
We're gradually rolling out this feature and continuously improving the insights. The data is based on real expat discussions and will become more comprehensive over time.
Latvia is a parliamentary democracy with a unicameral 100-seat parliament (Saeima) and a president as head of state. Prime Minister Evika Siliņa leads a three-party coalition government focused on security, defense spending, and economic development. The country performs in the high range across democratic indicators and maintains stable governance with improved coalition stability over the past 13 years.
Your Latvia Roadmap
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Data Source: Safety, crime, and quality metrics are sourced from Numbeo, a crowd-sourced global database of reported data.
All scores are relative comparisons on a 0-100 scale, where 50 = global average. Higher scores mean better than average, lower scores mean worse than average.



