2. Business environment

The total population of Latgale at the beginning of 2014 was 314,218 people, which is approximately 14.40% of Latvians. 60% inhabit cities and the remaining 40% are situated in rural areas.

Around 180,000 people or 62.5% of the region’s population are at the working-age, which is in line with the countries average.

Latgale has the highest unemployment rates in the country reaching 17.6% at the beginning of 2014. This is especially true for rural areas because in the cities unemployment is significantly lower: 9% in Daugavpils and 14.9% in Rezekne.

The region has the lowest wages in the country amounting to around 70% of Latvia’s average. In 2013, the average wage in Latgale was 490 EUR per month.

Ethnic composition of residents: Latvians 45%, Russians 37.5%, Poles 6.7%, other nationalities 10.8%. The composition varies widely between cities and counties.