Analytics, Banks, Financial Services, Latvia, Quality of life, Society

International Internet Magazine. Baltic States news & analytics Saturday, 29.02.2020, 00:15

Swedbank: Middle class makes up 9% of Latvia's population

BC, Riga, 12.02.2020.Print version
Middle class makes up 9% of Latvia's population, according to a study carried out by Swedbank and SKDS research center.

As the authors of the study explain, the middle class is a group of people in society who can afford to make their monthly payments and have savings in the amount of at least one monthly salary, and can afford traveling abroad at least once a year.


The study has found that 35% of respondents meet three criteria: they can make their monthly payments, have savings in the amount of at least one monthly salary, and have money left over to spend on other things. 9% can easily afford buying a property, pay their monthly bills and go on a week-long trip abroad.


4% of respondents meet four criteria - pay their monthly bills, make savings, go on a weekly trip abroad once a year, and have money left over to spend on other things.

At the same time, the survey found that 43.5% of respondents consider themselves middle-class, 42.3% - below average but not poor, 9.8% consider themselves to be poor, 2.5% consider themselves wealthy, while 1.5% had no opinion.


According to the survey findings, in 2018 the key middle class criteria included real estate, apartment or a private home, or land (73.1%), ability to afford a seven-day trip abroad at least once a year (54.3%), paying monthly bills without difficulty (53.8%), ability to afford private or paid medical services (44.2%), and having money left over to spend after making the mandatory payments (37.7%).






Search site