Riga is a dynamic Northern European city where historical heritage blends with a modern environment of innovation. Tradition, creativity and an entrepreneurial spirit make it an attractive place for both living and business development.
As the economic and financial hub of Latvia – generating approximately half of the country’s GDP and exports – Riga attracts companies that operate in the local market or plan to expand into the Baltic and Northern European regions.
Key sectors in Riga’s economy include information technology, business and financial services, logistics, real estate, e-commerce and professional services. There are 75,200 economically active enterprises in Riga – amounting to 127 businesses per 1,000 inhabitants – and the city is home to 41.5% of all commercial entities registered in Latvia.
The city’s international profile is bolstered by its membership in several significant European and global organisations that foster cooperation in areas such as the economy, tourism, social affairs, energy, culture and education. For instance, Riga is represented in EUROCITIES, the Union of the Baltic Cities (UBC), the Hanseatic League DIE HANSE, the Organization of World Heritage Cities (OWHC) and the International Congress and Convention Association (ICCA).
Accessibility is ensured by both air and sea transport: Riga International Airport offers seasonal direct flights to over 90 destinations, while the Port of Riga provides shipping connections to ports in more than 50 countries worldwide. The Rail Baltica project will further enhance this network by establishing a rail link to the other Baltic States and the European railway system.
The city boasts a rich cultural and historical background; Riga’s Old Town is included in the UNESCO World Heritage List, and the city is highly acclaimed for its diverse architecture – ranging from historic churches and medieval buildings to Art Nouveau masterpieces, traditional wooden structures and modern high-rises. Popular cultural and social venues include the Latvian National Museum of Art, the Kalnciems Quarter, Āgenskalns Market, the National Library of Latvia (known as the Castle of Light), the Dailes Theatre, the New Riga Theatre and the Kimmel Quarter.
Riga is Latvia’s largest centre for education, science and technology. More than 150,000 children and young people – including approximately 60,000 university students – study in the city across all levels of education. Riga is home to the majority of Latvia’s higher education institutions; around 80% of all Latvian students study here, as well as approximately 11,000 international students. The city’s educational and innovation landscape is bolstered by the “Knowledge Mile” – an area where Latvia’s major universities, the municipality and the business community collaborate.
Riga offers several advantages to potential investors and residents, including a low cost of living, convenient and affordable public transport, safety and low crime rates. Furthermore, the city features extensive green areas with well-developed sports infrastructure for leisure activities.
Published: 01.09.2026
