According to “Swedbank” data, the three main cost items – food, housing and transport – cost families in Tallinn 997 euros per month, in Riga – 988 euros, while living in Vilnius is the cheapest – 817 euros per month.
Due to the difference in income, families living in Riga have the least amount of money left to cover other needs after covering these three main expenses. Assuming that there are two children in the family and both parents earn the average salary in the capital, for other needs – clothing, household goods, health care, education, entertainment and other expenses – households in Tallinn have almost half more money (2579 euros) than in Riga (1667 euros) ), but in Vilnius, 2,309 euros are left to cover other needs.
“According to the results of the study, it can be seen that the price increase has required the entire wage increase, effectively leaving the families living in Riga at the level of 2021.
It can be concluded that Riga families still have to reckon with the lowest average income among the Baltic capitals, while living with not the lowest costs. Such conditions make providing for the other needs of Riga residents much more challenging compared to Tallinn and Vilnius,” notes Kropa.
She also points out that the compilation of data does not allow us to hope for any positive changes, because in recent years we have been allowing the neighboring countries to confidently maintain and even increase their advantage. “It can be seen that without reforms, at least in the field of labor taxes, bringing them in line with neighboring countries, Riga will likely retain its status as the city with the lowest disposable income after covering food, housing and transport expenses,” says Kropa.
Tags: financial situation families Riga worst Baltics Swedbank
