Latvia is one of the three former republics of the USSR that joined the EU. Despite having a relatively small domestic market, Latvia offers a wide range of business opportunities. It has the sixth-highest GDP per capita in the region, which, combined with its skilled and competitively priced workforce and dynamic economic growth, make Latvia a particularly interesting investment destination for those investors who plan to ship their goods through the country’s Baltic harbours or who have aspirations of taking their goods or services to the Russian market (most Latvians speak Russian fluently). The most promising areas in terms of investment opportunities are biotechnology, food manufacturing, information and communication technologies, mechanical engineering and logistics.
Our market and marketing research services in Latvia
Research PMR has experience in conducting various types of research projects for the Latvian market. We offer marketing research, including advertising concept tests and advertising campaign effectiveness studies. We also perform product research, such as product tests, product segmentation and price testing. In addition, our competencies in the Latvian market include market and industry analysis carried out using our proprietary dedicated PMR Market Insight methodology. Market analysis includes estimation of market size, identification of key market players, forecasting of market size, specification of the distribution structure and an overview of the legal and competitive environment.
62.1% Latvians, 26.9% Russians,
3.3% Belarusians, 2.2% Ukrainians,
2.2% Poles, 1.2% Lithuanians,
Belarus 141 km, Estonia 339 km,
Lithuania 453 km, Russia 217 km
Latvian lats (LVL)
- Czech Republic