Residents and employmen

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At the beginning of 2017, 701.1 thousand people lived in the capital of Latvia, according to the Office of Citizenship and Migration Affairs. Since 2007, the number of Riga inhabitants has decreased by 3.1%, although it should be noted that this figure is significantly better than the national average (-7.7% of the population for 10 years). Taking into account uneven migration, for this period Riga has increased its percentage of those living in Riga  – if in 2007 31.7% of Latvians lived in the capital, then in 2017 this number was 33.2%.

The tendency of the last years has also continued – the number of ethnic Latvians in Riga has grown by 5,000, having increased in percentage terms from the previous 46.2% to 46.8%.

In Riga, the unemployment rate is the lowest. For comparison, the average unemployment rate in the country in 2017 was 6.8%. At the end of 2017 in Riga there were 12.5 thousand unemployed, that is 4% of the total number of economically active residents. The average gross salary in Riga last year was 1044. Compared to 2007, salaries increased by 46%. The added value of the capital was more than half (54%) of the total for the country.

The total number of visitors to the city reached 1.58 million people, 88% of whom were foreigners. In general, Riga accepted 78.2% of all citizens of other states that visited Latvia for 2017.

It should be noted that Riga-related investments account for about 60% of the total investment in Latvia. 77% of the money invested in the capital came from abroad. However, the total amount of investments in Riga including private, municipal, state and foreign cash inflows amounted to only 2.3 billion euros, which is 12% less than in 2016.

Last eat revenues of the core budget of the city amounted to 906 million euros – 83.2 million more than a year earlier. Expenses of the core budget also increased – up to 890.9 million euros.

Debt obligations of Riga at the end of 2017 amounted to 895.4 million euros, they increased over the year by 5.5 million euros. At the same time, 58% of the total debt is taken by the Riga authorities at the time for the construction of the South Bridge.

In the same year, the budget expenditure of Riga is 997.7 million euros, and revenues – 908.4 million. Thus, the budget deficit is 9.8%.

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