2022 | StartupBlink View the Global Startup Map p. 178 43 | Latvia Latvia is still ranked among the top 50 countries worldwide after falling one spot this year to 43rd. Latvia is 8th in Eastern Europe, but it strongly lags behind the other 2 Baltic states of Estonia and Lithuania. An examination of Latvia's subscores reveal that the country boasts an entrepreneur-friendly business environment, and its Quantity score is highly competitive. Yet, Latvia scores very low on Quality, at 56th worldwide, showing that the country has challenges in producing high impact startups. Riga, the only ranked city in Latvia, fell 42 spots to 197th globally. While Riga ranks in the top 80 European cities, it lags far behind the Baltic capitals of Tallinn and Vilnius, and even falls behind Kaunas. Riga performs best in Edtech and Fintech, ranked in the global top 100. Given that Riga is the only ranked city in Latvia, the country's global position currently depends entirely on Riga’s startup scene. Latvia’s startup scene lags behind other Baltic countries. 2020 2021 2022 Regional Rank Startup Ecosystem Ranking Global Rank National Rank and Change City Global Rank and Change Total Score Overperforming Industry 1 Riga 197 4.300 Edtech 98 −42 − For more information about the rankings of cities, view the country dashboard on Startublink.com.