If you are an avid traveler, Latvia is one of the places you should add to your bucket list. Over the last few years, its old towns, historic churches, and picturesque views have been flocked by tourists from all over the globe.
However, people don’t go to Latvia just for travel. Some people with Latvian descent re-establish their citizenship and get a Latvian dual passport for more serious reasons.
Here are some of them:
Latvia’s GDP is fast-growing. It has seen a major improvement over the past decade; From 24 billion to 35 billion US dollars in 10 years. In 2019 alone, Latvia’s GDP grew by 6%. By purchasing power parity Latvia already overtook Greece and in a few years’ time might overtake Portugal.
Latvia is a great place to start a business. Latvia ranks at the top 10% on the Ease of doing business index; a report generated by leading economists from the World Bank Group. Businesses also benefit from Latvia’s corporate income tax by postponing tax payments, enabling them to reinvest money and expand their operations.
Latvia is one of the safest places to live in the EU. It has a low rate of violent crime, scoring 61.73 on Numbeo’s safety index; ranking at the top 40% among all EU countries. For businesses, the safety and wellbeing of their employees are essential, so this is one of the most important reasons why entrepreneurs consider Latvia as the location of their startup or business expansion.
Employment in the country is increasing. Latvia’s employment rate has tremendously grown since the last few decades. From 19.48% 10 years ago, Latvia’s unemployment rate has been reduced to 8.42% in 2019, helping improve EU’s average to 7.9%. With this, the poverty rate in the country decreased by 5% in the same period.
Latvia has a high rate of school enrollment because of its compulsory education system. The literacy rate of Latvian citizens aged 15 and above exceeds 99 percent, which is on-par with other EU countries. In terms of technology, schools are well-adapted too, having connectivity in most of the country’s educational institutions and adapting EU educational standards.
Latvia is a great base for exploring Europe and beyond. Riga is a regional aviation hub with flights to many destinations in Europe and beyond. You can directly fly to about 100 destinations from Riga. Major flag carriers and European low-cost carriers competing with local carrier AirBaltic offer a variety of options for traveling.
Latvia prides itself as a country with gender equality and an overall good quality of life. It ranks 41 on the GII (Gender Inequality Index). Women get the same privileges as men on employment and education. Life expectancy and standards of living have also increased over the past decade.
Overall, these facts about living conditions in Latvia demonstrate that the country has improved significantly in various areas since the 1990s. Although Latvia still has some way to go to reach the economic prosperity of the richest Western European countries, it is fast catching up and taken into consideration safety, lack of congestion, and good state of its environment many people find it a comfortable and stress-free place to live in.
If you are a Latvian descendant and would like to acquire a Latvian Dual Passport, you may reach out to us at email@example.com. We offer assistance from document acquisition, application preparation, translation services, and more.