Global business services and financial services

An excellent location to access both EU and CIS markets, Riga is an emerging GBS location in Europe (the most dynamic city for the GBS industry 2021 award).

Attractive for GBS companies due to its highly skilled labour pool, language skills, and Western work ethic, Riga also offers a satisfactory quality of life and dynamic business environment with low saturation. 

Key Benefits

  • Competitive cost of operations
  • Lowest rental cost for office space in Baltics ; (A-class office 13-17 EUR/month/sq.m, B-class 8-13 EUR/month/sq.m)
  • Lowest average salaries in Baltics (1143 EUR/month before taxes)
  • Lowest costs of operations in Baltics (International Tax Competitiveness Index among OECD (2);
  • A highly qualified, productive, and multilingual talent pool of 1.1M
  • 1st in innovations in the Baltics 1
  • 6th fastest internet speed in the world
  • Low market saturation

Main subsectors

 IT, finance, customer service, logistics, personnel management & procurement.

Key Players

  • Accenture (~1500 FTEs);
  • Cognizant Latvia (more than 250 FTEs);
  • Circle K Business Centre (630 employees);
  • Cabot Business Service Center (more than 250 FTEs);
  • SEB Global Services (700 FTEs).

Download

GBS Latvia Fact Sheet 2021
PDF
Global Business Services in Latvia, April 2021
PDF

If you need an assistance

We are your first point of contact if you're interested in Riga as a place for investment, business development, or film production. We will assist and help with the right people and organizations without added cost. Get in touch and let's make things happen.

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