Lithuania’s growing GDP per capita is making its citizens’ living standards improve and attracting significant investment.
The country is expected to receive over a billion euros in investments and create over 20,000 new jobs in the next half-decade. This economic and political stability is particularly attractive in the post-COVID era, despite high inflation rates. Lithuania is converging with its European peers, with wages doubling since joining the European Union, while consumer prices have gone up by about 40%.
Invest Lithuania director Elijus Čivilis predicts that Lithuania will continue to be a stable middle-ground for businesses in the face of tension between big powers in the East and West. The country is becoming a technology, engineering, and life sciences powerhouse and is attracting businesses in these sectors.
Lithuania’s efforts to protect its interests against Russian aggression are also boosting the country’s spirit, efforts, and cybersecurity, making it even more attractive to businesses looking to innovate in a politically and economically friendly environment.
Fintech and game dev
Lithuania’s economic and political climate is expected to enable triple-digit growth in sectors like fintech and game development. The country is looking to attract over a billion euros in new investment and create over 20,000 jobs across various industries, including natural and life sciences, device engineering, and information and communication technology (ICT).
Lithuania’s initiatives like foreign direct investment, global partnerships, and targeted stimulus are also helping the country ease economic crosscurrents.
Lithuania’s economic transformation and stability are not only benefiting the country itself but also boosting the Baltic region’s economy as a whole.
Lithuania’s success is inspiring other Baltic States, like Latvia and Estonia, to follow suit, making the region an increasingly attractive destination for businesses and investors alike.