NUTS-3 LV005 · Latvia
Population
239,3622025
GDP
€2,822M2023
Unemployment· NUTS-2 source
6.9%2025
Employment· NUTS-2 source
78.2%2025
Active firms· FR-only
—
Cadastral parcels· FR-only
—
Area
14,541.4 km²
TerraSight · Compare
2 regions side-by-side
LV005 · BG412
Decision brief
Download brief (PDF)mandate-neutral · ranked by overall opportunity
Best overall fit: София (Opportunity 34). Runner-up: Latgale (24). Contrarian pick: Latgale — leads the set on Energy cost (EU pctl 73).
#1София
Strengths
Industrial base (98) · Freight intensity (90)
Red flags
Economic base (EU bottom 15%)
Demographic outlook (EU bottom 15%)
Governance (EU bottom 15%)
Resilience (EU bottom 15%)
#2Latgale
Strengths
Cost advantage (84) · Energy cost (73)
Red flags
Economic base (EU bottom 15%)
Demographic outlook (EU bottom 15%)
Why you might not pick София
Economic base (EU bottom 15%); Demographic outlook (EU bottom 15%); Governance (EU bottom 15%); Resilience (EU bottom 15%). Its weakest dimension is Governance (EU pctl 0) — Latgale may suit a mandate that weights that higher.
How robust is this recommendation?
София leads under all four archetype mandates — the recommendation is weight-stable.
Phase-2 diligence checklist
- Site-level grid connection capacity and power pricing (beyond country-grain energy data)
- Local incentives, tax regimes and permitting timelines
- Workforce depth for your specific roles (the talent pillar is a proxy)
- Real-estate availability, rents and land — public pan-EU data stops at the Nordics
This is a mandate-neutral read. To weight the pillars to your thesis, run these regions through the Site Screener — it ranks all 1,211 regions under your weights and exports the full PDF. First-pass macro screening, not investment advice.
Composite intelligence · 0–100 EU-percentile scores
Opportunity Indexscale + growth + access + structure
24.4
33.6
Resilience Indexdiversification, stability, buffers
17.5
9.8
Quality of Lifeprosperity, health, safety, environment
30.5
41.5
Clean AirPM2.5 / PM10 / NO₂ inverted
24.7
—
Connectivitytransit + air + market access
32.7
32.0
Talent & Human Capitalskills, learning, knowledge workers
56.8
65.0
Growth Momentumrecent GDP / employment trajectory
52.2
60.8
Trajectories · 2012–latest
Real GDP (2020 prices)
1.5% 5y
0.5% 5y
Population
1.4% 5y
2.5% 5y
Unemployment rate
9.9% 5y
11.5% 5y
Derived comparisons
GDP per capita
€11,791
€12,898
Population density
16 /km²
32 /km²
Parcels per 1k pop
FR-only
FR-only
Firms per 1k pop
FR-only
FR-only
All indicators · 89 metrics (Eurostat, all-EU)
Economy
Gross value added, total (current prices)
€2,482M
€2,529M
GVA — agriculture, forestry & fishing (A)
€150M
€90M
GVA — industry (B–E)
€568M
€1,245M
GVA — manufacturing (C)
€435M
€1,137M
GVA — construction (F)
€121M
€82M
GVA — wholesale/retail, transport, ICT (G–J)
€514M
€480M
Net disposable household income per capita (NUTS-2 source) ·N2
€12,000
€11,300
GDP per capita in PPS (purchasing-power adjusted)
14,700 PPS
20,800 PPS
GDP per capita (current prices, EUR)
€11,500
€12,800
Gross fixed capital formation — investment (total economy) ·N2
€9,718M
€9,359M
Investment in manufacturing capex (GFCF, NACE C) ·N2
€1,006M
€686M
Compensation of employees (total wage bill) ·N2
€21,296M
€21,611M
GVA — real estate activities (L)
€205M
€255M
GVA — information & communication (J)
€44M
€21M
GVA — finance, real estate & professional (K–N)
€321M
€319M
GVA — public admin, health & education (O–U)
€808M
€313M
Real GDP (constant 2020 prices, incl. short-term forecast)
€2,301M
€2,156M
Labour productivity per person employed (EUR)
€30,102
€29,249
Gross fixed capital formation, NUTS-3 (ARDECO)
€721M
€673M
Labour market
Employment, total persons
104,030
97,620
Self-employed persons
17,850
26,810
Employment in manufacturing (C)
13,800
23,540
Activity rate, 15–64 (NUTS-2 source) ·N2
77.6%
76.5%
Youth unemployment rate (15–24) ·N2
14.8%
6.6%
Unemployment rate 15-74, NUTS-3 native (ARDECO)
6.9%
1.9%
Labour force aged 15+ (ARDECO)
122,700
109,300
Business demography
Active enterprises (business economy, all sizes)
10,893
9,759
Enterprise births
1,411
1,059
Enterprise deaths
777
1,313
3-year enterprise survival rate
5.1%
5.1%
Innovation & R&D
R&D expenditure as % of GDP ·N2
0.9%
1.3%
Employment in high-tech sectors (% of total) ·N2
5.3%
10.2%
R&D personnel (% of active population, FTE) ·N2
0.8%
1.6%
Education
Tertiary education attainment, age 25–64 ·N2
40.7%
44.5%
Tertiary attainment, age 25–34 (young talent pool) ·N2
44.7%
48.4%
Adult participation in learning, age 25–64 (last 4 weeks) ·N2
11.4%
5.4%
Knowledge workers — tertiary-educated & in science/tech (% of labour force) ·N2
24.8%
32.4%
Scientists & engineers (% of labour force) ·N2
8.0%
11.7%
Digital
Households with internet access ·N2
94.1%
95.9%
Tourism
Nights spent at tourist accommodation (total)
203,474
707,173
Mobility
Passenger cars per 1,000 inhabitants ·N2
424 /1k
525 /1k
Distinct public-transport stop locations within the region (GTFS feeds, deduplicated across overlapping feeds by coordinate). A measure of transit-network extent.
2,696
29
Road freight loaded (annual, thousand tonnes)
7,315 kt
11,957 kt
Public-transport stops per 100,000 inhabitants — transit service density relative to population (GTFS feeds, coordinate-deduplicated).
1,126
13
Motorway density (km per 1,000 km²) ·N2
—
15 km/1000km²
Distance from the region centroid to the nearest major (large) airport, in km - air-connectivity accessibility. Lower is better.
212
46
Number of major (large) airports within 100 km of the region centroid - air-hub catchment richness.
0
2
Demography
Population aged 15–64 (working age)
150,542
138,452
Population aged 65+
58,456
54,464
Population aged under 15
30,364
31,785
Median age of population
48.9 yrs
47.8 yrs
Old-age dependency ratio (65+ / 15–64)
38.8%
39.3%
Crude rate of total population change
-16.7 /1k
-7.6 /1k
Crude rate of net migration plus adjustment
-5.4 /1k
1.3 /1k
Crude birth rate
5.9 /1k
8.5 /1k
Crude death rate
17.2 /1k
17.5 /1k
Live births
1,427
1,927
Deaths
4,161
3,944
Total age-dependency ratio (young+old / 15-64)
59.0%
62.3%
Total fertility rate (births per woman)
1.25
1.89
Population density (persons per km²)
17 /km²
32 /km²
Projected population, 2030–2040 (EUROPOP2019 baseline)
101,556
121,034
Social
At risk of poverty or social exclusion (AROPE) ·N2
24.7%
19.8%
Life expectancy at birth ·N2
76.4 yrs
77.0 yrs
At-risk-of-poverty rate (regional) ·N2
22.0%
13.6%
Health
Hospital beds per 100k inhabitants ·N2
—
792 /100k
Mortality, all causes (age-standardised rate) ·N2
1,728 /100k
2,069 /100k
Cancer mortality (age-standardised rate) ·N2
278 /100k
194 /100k
Safety & crime
Intentional homicides per 100k inhabitants
5.8 /100k
2.2 /100k
Robberies per 100k inhabitants
10.7 /100k
8.8 /100k
Burglaries per 100k inhabitants
181 /100k
24.3 /100k
Thefts per 100k inhabitants
643 /100k
271 /100k
Road traffic deaths per million inhabitants ·N2
60 /M
40 /M
Governance & institutions
Government effectiveness, WGI score -2.5..2.5 (country)
0.73
-0.07
Regulatory quality, WGI score -2.5..2.5 (country)
0.96
0.25
Rule of law, WGI score -2.5..2.5 (country)
1.01
-0.10
Control of corruption, WGI score -2.5..2.5 (country)
0.82
-0.14
Political stability & absence of violence, WGI score (country)
0.78
0.33
Energy
Industrial electricity price, 2-20 GWh band, excl. taxes (national)
€0.114/kWh
€0.135/kWh
Industrial gas price, 10-100k GJ band, excl. taxes (national)
€0.050/kWh
€0.041/kWh
Climate
Elevation at region centroid (Copernicus DEM)
159 m
651 m
Hot days ≥30°C (avg per year)
1 days/yr
13 days/yr
Frost days ≤0°C (avg per year)
128 days/yr
84 days/yr
Heavy-precipitation days ≥20mm (avg per year)
2 days/yr
3 days/yr