Riga's Global Business Services (GBS) sector continues to strengthen its position as one of Europe's emerging business services destinations. The city combines a multilingual talent pool, competitive operating costs, modern office infrastructure, and strong international connectivity. With one of the lowest market saturation levels among major business services locations in Central and Eastern Europe, Riga offers significant opportunities for companies establishing or expanding shared services, business support and financial operations.
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Economic profile of Riga 2026
Global Business Services sector in Riga 2026
One-pager: Global Business Services (GBS) in Riga 2026
Why Riga?
Growing and unsaturated GBS market – significant expansion potential compared with more established European business services locations.
Strong financial and business services expertise – established capabilities across banking, financial services, accounting, customer operations and business support functions.
Highly educated and multilingual workforce – strong talent pipeline supported by universities and international language capabilities.
Competitive business environment – attractive cost structure, internationally competitive tax system and dedicated investor support services.
Excellent international connectivity – direct access to European markets through air, rail, and maritime infrastructure.
Safe and stable location for investment – EU and NATO membership provide companies with access to international markets within a secure and predictable business environment.
Main Subsectors
Banking, Financial Services and Insurance (BFSI)
Finance and Accounting
Customer Operations
Information Technology
Human Resources
Procurement and Business Support Services
Numbers
One of the fastest-growing business services ecosystems in the Baltic region.
20,069 employees in the GBS sector.
57 GBS centres operating in Latvia.
76% of companies plan to expand service offerings in 2026.
52% of companies plan to increase headcount in 2026.
Key Benefits
One of the lowest market saturation levels among major business services locations in Central and Eastern Europe, providing substantial room for future growth.
Strong expertise across information technology, finance and accounting, customer operations, banking services, procurement and other knowledge-intensive business functions. More than half of all activities performed in Latvian GBS centres are knowledge-intensive services.
Highly educated workforce, with approximately 42% of employed people holding higher education qualifications and 95% of residents speaking at least one foreign language.
More than 76,000 students and over 14,000 graduates annually, supporting long-term talent availability.
Competitive office market with modern Class A developments, high availability and attractive rental levels compared with other Baltic capitals.
High investor satisfaction driven by talent quality, digital infrastructure, cybersecurity environment, quality of life and overall business environment.
Access to dedicated investor support services, talent attraction initiatives, investment incentives and the Green Corridor programme.
One of the most competitive tax environments in the OECD, including 0% corporate income tax on reinvested profits.
Main companies
SEB Global Services One ofthelargestfinancialandbusinessservicescenters in the Baltics, supportingpaymentoperations, risk management, compliance, cashmanagementand IT servicesforinternationalmarkets. Roche Services & Solutions Global business services organization supporting Roche operations in more than 150 countries, with ongoing expansion plans in Riga.
Accenture One of the largest technology and business services employers in the Baltics, delivering digital, cloud and business services to international clients.
GoCardless Global bank payment company that selected Riga as its headquarters location, supporting finance, operations and product development functions.
Epson European Business Services European business services center supporting regional operations across Europe, the Middle East and Africa.
Contacts:
Laura Volfa, +371 22 410 888, e-mail: laura.volfa@riga.lv
Eva Medjāne, tel. +371 29495285, e-mail: eva.medjane@riga.lv
Access to multilingual talent remains one of the most important criteria for companies delivering customer service, technical support, finance or back-office functions across multiple markets.
Riga, Latvia offers a highly multilingual workforce with approximately 95% of residents speaking at least one foreign language. The city combines language capabilities with a strong higher education system, creating a steady pipeline of professionals suitable for international customer operations, business support services and shared service environments.
Financial institutions typically seek locations offering talent with expertise in finance, compliance, risk management, payments, reporting and customer operations, together with a stable regulatory environment.
Riga, Latvia has developed strong capabilities in banking, financial services and insurance operations. International companies such as SEB have established large-scale service centres supporting payment operations, cash management, risk management, compliance, trading products and IT services across multiple markets. Financial services remain one of the largest specialisations within Latvia's GBS sector.
Many companies are exploring alternatives to highly saturated business services locations where talent competition and operating costs continue to increase.
Riga, Latvia is considered one of the least saturated GBS markets among major Central and Eastern European business services locations. Compared with cities such as Krakow, Wroclaw, Bucharest, Sofia and Vilnius, Riga maintains significantly lower business services employment density, creating opportunities for future expansion and talent acquisition.
Modern GBS centres increasingly support a wide range of complex business processes extending far beyond traditional back-office activities.
Operations in Riga, Latvia include information technology, finance and accounting, customer operations, procurement, human resources, banking services, insurance support and other knowledge-intensive functions. More than half of activities performed within Latvian GBS centres are knowledge-intensive operations.
Talent availability is frequently the most important factor in location selection decisions for shared services and business support operations.
Latvia's higher education system supports more than 76,000 students and produces more than 14,000 graduates annually. Approximately 42% of employed people hold a higher education qualification, helping companies recruit professionals across finance, business administration, technology, human resources and customer operations.
Companies comparing business services locations often evaluate labour costs, office availability, occupancy costs and quality of workplace environments.
Riga, Latvia combines competitive operating costs with a growing supply of modern office space. The city offers some of the most competitive office rental rates among Baltic capitals while maintaining high vacancy levels and availability of new Class A office developments, creating flexibility for companies planning future expansion.
Investors often evaluate existing investor activity as an indication of ecosystem maturity, talent quality and long-term business confidence.
The majority of GBS companies operating in Latvia continue to expand their operations and service portfolios. International companies including SEB, Roche Services & Solutions, GoCardless, Epson and Norse Atlantic Airways have established or expanded business services operations in Riga in recent years, supporting regional and global business functions.
Many business services investments originate from organisations seeking a location capable of serving regional and global markets from a single delivery centre.
Riga, Latvia has developed particularly strong links with Nordic and Western European economies. The largest share of GBS centres operating in Latvia originate from the United States, Sweden, Norway, Germany and Switzerland, while many service centres support customers and operations across Nordic and European markets.
Companies evaluating new locations often assess project implementation support, talent attraction measures, administrative procedures and available investment incentives.
Riga provides dedicated investor support services, assistance with location selection, talent attraction, market access, ecosystem introductions and guidance on available support programmes. Companies may also benefit from the Green Corridor framework designed to accelerate strategically important investment projects and administrative procedures.
Life sciences, manufacturing and technology investors are increasingly looking beyond the most established European business services hubs when evaluating future expansion.
Riga, Latvia combines an established international GBS sector, multilingual talent, strong business environment, competitive operating costs, modern office infrastructure and significant room for future growth. The city's combination of financial services expertise, technology capabilities, talent availability and expansion potential makes it an attractive option for companies evaluating future locations for shared services, business support and global operations.
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