Last updated: Aug 28, 2026
Doing Business in Latvia: Market Entry, GTM Strategy & Growth Potential
Why Expand into Latvia
The population of Latvia is 1,835,935, and is growing at the rate of -0.78%. The GDP per capita, which represents the potential spending power of the people, is $45,840, measured on a purchasing power parity (PPP) basis to allow comparison with other countries.
68.8% of Latvia’s population lives in urban areas. 55.54% of the population is of working age (15-59). 94.43% of the population has internet access and 98.2% has 5G mobile coverage. These factors are important for digital-first businesses to keep in mind.
The Accuracast International Growth Index ranks Latvia #53 overall for market attractiveness, rising 3 places over the past year.
How we can help you grow in Latvia:
Accuracast offers a comprehensive range of international digital marketing services to support brands looking to grow their presence in Latvia. Whether you need an international SEO agency, an international advertising agency, or an international social media marketing agency specialising in Latvia, we’ve got you covered.
Latvia's International Growth Stats
| International Growth Pillar | Score |
|---|---|
| Market Demand | 39.01 |
| Purchasing Power | 52.73 |
| Digital Readiness | 93.83 |
| Financial Infrastructure | 81.91 |
| Regulatory Complexity | 63.89 |
| Setup Cost & Friction | 35.24 |
| Digital Search Demand | 32.01 |
| Cross-Border Activity | 75.46 |
| Overall Score | 52.89 |
| Score Change | 1.78 |
| Overall Rank | 53 |
| Rank Change | 3 |
Digital Search Demand
32.01%
Purchasing Power
52.73%
Digital Market Maturity in Latvia
The digital search demand score for Latvia is 32.01.
Go-To-Market Strategy Considerations for Latvia
The purchasing power score for Latvia is 52.73, and the country scores 93.83 for digital readiness.
Financial & payment infrastructure
In terms of financial infrastructure, Latvia scores 81.91.
Regulatory & business setup friction
From a business expansion point of view, Latvia scores 63.89 for regulatory complexity and legal restrictions. This is reverse-scored, meaning the higher the score, the easier it is to navigate local regulation.
The score of 35.24 indicates the costs and friction associated with setting up a business presence in Latvia.
Latvia market attractiveness change
Compared to last year, the overall International Growth Index score for Latvia has changed 1.78 points, moving the country 3 places higher from 2025, to rank #53 in 2026.
Most Popular Social Media Platforms in Latvia:
- YouTube
- TikTok
International Expansion Risks for Latvia
While new market expansion can be exciting, it is important to also consider the risks when entering a market like Latvia.
Compare Latvia to other countries
| International Growth Pillar | Latvia Score |
|---|---|
| Market Demand | 39.01 |
| Purchasing Power | 52.73 |
| Digital Readiness | 93.83 |
| Financial Infrastructure | 81.91 |
| Regulatory Complexity | 63.89 |
| Setup Cost & Friction | 35.24 |
| Digital Search Demand | 32.01 |
| Cross-Border Activity | 75.46 |
| Overall Score | 52.89 |
| Score Change | 1.78 |
| Overall Rank | 53 |
| Rank Change | 3 |
| United States Score |
|---|
| 53.39 |
| 71.03 |
| 93.01 |
| 81.18 |
| 64.5 |
| 27.2 |
| 43.46 |
| 69.58 |
| 60.79 |
| 1.2 |
| 3 |
| 0 |
View market attractiveness data for other countries ranked like Latvia:
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