Business trip to Riga, Latvia.
Riga is responsible for about half of the total industrial output of Latvia, focusing on the financial sector, public utilities, food and beverages, pharmaceuticals, wood processing, printing and publishing, textiles and furniture, and communications equipment manufacturing. More than 50 percent of Latvian companies are registered in Riga region.
The port of Riga is an important cargo shipping centre. It is the principal all-weather port in the Baltic and is expected to grow in the next few years due to increased trade with other former Soviet states and China.
Almost all important Latvian financial institutions are located in Riga, including the Bank of Latvia, which is Latvia’s central bank. Foreign commercial trade through Riga has been on the increase in recent years and received new stimulus in 2004 when Latvia became a member of the European Union.
Read more...Present discussions are underway in Riga council concerning the development of the central areas on the left bank of the Daugava. The capital dispute surrounds plans to build a number of skyscrapers in Ķīpsala, which UNESCO warned "could seriously endanger the status of the Historic Centre of Riga as a World Heritage Site." The construction of 3 buildings in Ķīpsala has already started — the Da Vinci complex (25 floors) and two high-rises called Z-Towers (30 floors).
Business and leisure travel to Riga have increased significantly in recent years due to improved infrastructure. Most tourists travel to Riga by air via Riga International Airport, the largest airport in the Baltic states, which was renovated and modernized in 2001 on the occasion of Riga’s 800th anniversary.
In the near future, the face of Riga will undergo notable changes. The construction of a new landmark — the Latvian National Library building — began in the autumn of 2007 and is due to be built by 2010.
For more in-depth information I suggest you buy and read the "Global Business Etiquettes" book.
- Communication:
Use formal names, professional and academic titles.
Hierarchy is very important in Latvian business.
Latvians are not direct, they prefer subtlety to directness.
Latvians can appear very stiff in the beginning, they will not laugh and use little facial mimics.
Silence is a crucial part of the conversation.
Never interrupt somebody.
Dress formal and conservative. - Meetings and negotiations:
When making appointments use the 24-hour clock time format to avoid misunderstandings.
Be very punctual, if you suspect you will late, call and explain the situation.
Never cancel a meeting at the last minute.
Shake hands with everyone upon arriving at the meeting and leaving. Respect the hierarchy
Remain standing until invited to sit down or others do so.
Little time is spent to getting to know you before the business conversation begins.
Agenda’s are strictly followed.
Keep your presentation as short as possible, to the point, accurate and precise, do not exaggerate.
Follow up a meeting with a letter with all agreements outlined. - Table manners:
If unsure on how to behave, mimic the behavior of others.
Wait until you are appointed a seat.
Avoid alcohol if possible, otherwise drink little.
If making a toast, stand up.
Put your napkin on your left, eat not too much but finish your plate.
Keep your hands above the table when eating.
After finishing your plate lay your knife and fork parallel on your plate with the handles to the right.
Thank your host at the end of the meal.
Latvia is a relatively small nation with a dynamic, though recently troubled, economy and a stable political environment. Latvia has a population of approximately 2,27 million inhabitants. The country provides a potentially attractive market for American IT equipment and services, capital machinery and equipment, medical and consumer products. Located at the center of the three Baltic States, Latvia is a member of the European Union and provides a strategic location as a commercial, financial, and major transportation hub for the Nordic/Baltic region.
The Latvian economy is based on the service industry including transportation, information technology, and financial services. At the same time the construction industry plays an important role, as do wood, food, metalworking, and light industries (e.g., textiles). Tourism is growing rapidly.
Currently Latvia is experiencing serious economic difficulties and has received a € 7,5 milliard assistance package from the International Monetary Fund (IMF) and the European Union. The IMF will provide € 1,7 billion, the Nordic countries € 1,8 billion, the European Commission - € 3.1 billion, and the EBRD and other EU Member States, € 0,9 billion. The financial assistance program’s terms do not call for monetary policy changes, this way allowing Latvia to maintain its currency’s exchange rate connected to the Euro.
In order to achieve the goals of the program without devaluation, severe fiscal policy tightening is required. Key elements of the government’s revised budget and economic restructuring program are: immediate measures to stem the loss of bank deposits and international reserves; steps to restore confidence in the banking system in the medium-term and to support private debt restructuring; fiscal measures to restrain inflation, limit government spending and reduce current account imbalances (while also avoiding a substantial widening of the budget deficit due to decreasing revenues and preparing for early fulfillment of Maastricht criteria); and social policy and structural reforms that will rebuild competitiveness and make government more efficient.
| Currency | Latvian Lat (LVL) |
| Time zone | GMT +2 |
| Population | 2.231.503 |
| Area | 64.589 km2 |
| Population density | 36/km2 |
| GDP | € 23,9 billion |
| GDP per capita | € 9.381 |
  | Product tip: There are also nice looking laptop bags on the market! A laptop bag doesn’t have to be a dull conservative black bag. There are lot’s of great looking bags on the market these days. Special laptop bags with the protection that is needed for your laptop but also with nice designs in models and materials. |
Riga International Airport was built in 1973 as an alternative to Spilve, which had become outdated. It is 5.4 NM (10.0 km; 6.2 mi) west[1] of Riga, the capital of Latvia. It is the largest airport in the Baltic states and is directly connected to over 60 destinations in 30 countries. Renovation and modernization of the airport was completed in 2001, coinciding with the 800th anniversary of the founding of the city.
Address:
RIGA International Airport
RIGA Airport 10/1
Riga, LV 1053, Latvia
Tel:(+371) 29311187
www.riga-airport.com
Airport codes
IATA airport code: RIX
ICAO airport code: EVRA
Lost property
In case your luggage hasn’t arrived with you, you can turn to the Arrival Service Office that is located in the closed area of arrival before the border control.
T: (+371) 6 7207 236
Terminal map
Connectivity from the airport
Bus
- Bus route #22, operated by Rīgas Satiksme, run between Riga city centre and the airport. Buses depart every 10 - 15 minutes from 5:45 a.m. till 23:50 p.m.. The journey time is about 40 min. The fare is 0.50 LVL or 1.20 LVL, if you have large luggage. The airport unloading point is in front of the second terminal. To get on the bus at the airport, look for the bus stop located across the street from the terminal, behind the car park.
- AirBaltic in cooperation with Reval Hotel Latvia offers a shuttle bus service – Airport Express. The bus operates between the Riga airport and the Reval Hotel Latvia, (in the city centre,) every day from 5:30AM till 12:45AM (midnight). Buses are scheduled every 30 minutes. Tickets may be purchased from the bus driver or at the airBaltic, Berga Bazars (Elizabetes Iela 85a) or Reval Hotel Latvija (Elizabetes Iela 55) ticket offices. Ticket price: 3 LVL one-way. Cash (Latvian lats only) or payment cards are accepted.
- There are international bus connections from the airport to cities in Estonia and Lithuania. Additional information on bus routes and schedules may be found at the airport information centre.
- The traffic in between the resort city Jūrmala and Riga International airport is supported by the yellow buses called Jūrmala Shuttle Buses that depart from Konkordijas street in Jūrmala. The departure and disembarkation in the airport area is located by the main building, arrival terminal E.The bus schedule from the airport starts with the first one leaving at 10.00 and it doesn’t stop till midnight, but from Jūrmala first one leaves at 9.00 and last one at 23.00. The bus ride takes up to 55 minutes. The price for the ticket is 1 LVL to 3 LVL .
Taxi
All taxi companies may operate in Riga Airport. Journey by taxi is about 15 minutes. Getting to the city centre will cost you about 8 LVL, but it may vary in some taxis. Ask for the fare amount before traveling to avoid problems. Air Baltic trusted taxi company is Baltic Taxi.
Taxi is the quickest and most convenient way of traveling round the city. Taking a taxi in Riga is to travel in comfort and obtain information about location of the object you are interested in, customs and traditions, good shopping places, etc.
Keep the following tips in mind if you need to order a taxi during your business trip to Riga.
Taxis are easily recognizable by lighted roof signs and special yellow plates starting from TX. Taxis should be equipped with taximeters. In a taxi always make sure the meter is actually running.
| Company name | Phone number |
| Vudi | 80003535 |
| Riga Taxi | 8001010 |
| Rīgas Taksometru Parks | 80001313 |
| Bona Taxi | 80005050 |
Vincents
With one of Latvia’s most famous chefs, Martins Ritins, at the helm, this is still one of the best places to enjoy creative fine dining in Riga. Service as satisfying as the food, though some recent reports suggest tourists are not always treated as well as locals.
Elizabetes 19, Riga
Tel: 6733 2634.
www.vincents.lv
Seasons
A suitably grand restaurant in what many rate as the city’s finest hotel. The menu changes with the season as the name suggests, making it a year round favorite of the local business community right in the heart of the old town.
Piles 12, Hotel Grand Palace
Tel: 6704 4000.
www.schlossle-hotels.com
Fabrikas
This chic red brick restaurant is a current favorite of the local trendy set. Arrive in as flash a car as you can manage or even pitch up in a boat to really steal the scene. Waterfront and old town views back up the international food. If you are on a business trip to Riga, this is a great restaurant for entertaining your hosts.
Balasta Dambis 70, Riga
Tel: 6787 3804.
www.fabrikasrestorans.lv
Tips to save money on hotel costs during your business trip to Riga.
To get the best price for a good hotel room during your business trip to Riga it's not only important to compare the prices the hotel charges for a room, but also compare the prices of the different booking agencies.
This can save you, or your company, a lot of money!
- Go to this hotel listing for Riga.
- Select the "Check-in" and "Check-out" date.
- Select filters like: "Hotel brand", "Ratings", "Location" and "Price ranges".
- Select the hotel you like.
- You will get an overview of the prices from up to 24 booking sites
- Select the best offer in the list and book the room!
We have selected the following established business hotels for your convenience:
Grand Palace Hotel
The Grand Palace Hotel is located in the cobble stoned 15th century old city, surrounded by ancient monuments, central to most major businesses and near Riga’s vibrant shopping and business community which is very convenient during a busy business trip.
Pils street 12
Riga, Latvia, LV-1050
Phone: +371 6704 4000
More info about Grand Palace Hotel Riga
Radisson SAS Daugava Hotel
Radisson SAS Daugava Hotel is conveniently located on the bank of the Daugava River with a spectacular view of Old Riga. Close to the business, shopping, governmental, and entertainment areas of the city, the hotel is also just 15 minutes away from Riga International Airport.
24 Kugu Street
Riga, LV-1048, Latvia
Tel: +371 6706 1111
More info about Radisson SAS Daugava Hotel Riga
Reval Hotel Ridzene
Reval Hotel Ridzene is a deluxe 5 star hotel dedicated to providing the business traveller with new standard of accommodation and exceptional caring service that provides attention to individual wishes and demands. The hotel was built in 1984 and was named Ridzene after the river that once flowed where the hotel stands today. Located in the heart of Riga’s business and financial district, only 20 minutes away from airport.
Reimersa Street 1
LV 1040 Riga
Tel: +371 67093333
More info about Reval Hotel Ridzene Riga
The main shopping area of Riga is in and around the Old Town, however many of the larger stores are out in the suburbs, along major roads. Audeju is the main shopping street, with a number of designer shops and home to Centrs, Audeju 15, the city’s oldest shopping mall.
The best location to look for antiques is at specialist shops like Antiqua, Kr Valdemara 20; Tango, Dzirnavu 66, and Volmar, Brivibas 39. Among the best souvenir shops are Ezerciems, Kalku 7-9, Mara, Kaleju 9-11 and Souvenir, Aspazijas 30.
Central Market
Negu 7 (next to the central station), Riga
www.centraltirgus.lv
One of the oldest and biggest of its kind, Riga’s Central Market dates back to 1201 and is a riot of sounds, sights and smells. Anything from fresh fruits, cheeses, and whole sheep carcasses, to appliances, clothing and CDs are on offer, usually at very reasonable prices.
The market was moved from its original home and relocated several times, but since the 1930s has occupied the same space in several World War I hangars, close to the bus and train stations. There is room for over 1,000 vendors, and no visit to Riga is complete without a stroll through its tantalizing stalls. Visitors can daily enter the market from 8am to 5pm.
When you have any time left to see something of this beautiful city I would recommend to visit one of the following sights:
Riga Castle
Pils laukums 3, Riga
The outstanding yellow castle was destroyed and rebuilt over time and nowadays it serves as the offices and home of the Latvian president, as well as the Latvian Museum of Foreign Art and the Rainis Museum of Literature and Art History. The castle is strategically placed on the banks of the Daugava, originally in order to oversee all ships entering the city’s port, and has four towers and an inner courtyard. Foreign Art Museum: Tuesday to Sunday 11am to 5pm. The Castle is open daily, though some sections are off limits to tourists due to the Presidential residence
Dom Cathedral
Doma laukums, Riga
The cathedral is located near the Western Daugava River and boasts an majectic organ with over 6.500 pipes built in 1844, stained glass windows and a beautifully whitewashed interior. Dating back to 1211, the red brick Dom Protestant Cathedral is a highlight of the historic centre of Riga. If you have only a short time for sightseeing during your business trip to Riga, this would be the place to visit.
Brivibas gatve 440, Riga
The Open Air Ethnographic Museum is a fascinating reflection of the traditional Latvian way of life. Set on 247 acres (100ha), the museum consists of farmhouses, fishing villages, windmills and other historic buildings that have been relocated here to create an outdoor exhibit. Visitors can watch craftsmen at work, sample traditional Latvian cooking and ales, and learn more about the history of the country. If you have enough time for sightseeing during your business trip to Riga, I would recommended you to visit it. Museum is daily opened 10am to 5pm.
Brivibas Piemineklis(Freedom Monument)
Brivibas iela and Raina bulvaris, Riga
Neatly dividing the Old Town and New Town is Bastejkalns Park, with its lazy canal, cafes and walkways. In the middle of the park is the Freedom Monument, one of Riga’s and indeed Latvia’s most poignant sites, a symbol of both the nation’s fight for nationhood and the four decades of resistance to Communist rule. The voluminous Freedom Monument has a sacred place in the hearts and minds of every Latvian. This potent symbol of the nation was paid for and erected by the citizens of Riga in 1935 and somehow survived four decades of Soviet rule. Today, the monument, the tallest of its kind in Europe, is back to its best after a major renovation, and still retains its intensity, as well as doubling up as a favourite meeting point for the city’s youth.
Latvijas Kara Muzejs (Latvian War Museum)
Smilsu 20, Riga
The Latvian War Museum is both one of the most interesting museums in the city and also the most controversial. Within the redbrick of the 14th-century Powder Tower, there are displays illuminating the various wars that have ravaged the country. There are good sections not only on the War of Liberation (1918-20), when the Latvians fought off the Soviets and the Germans, but also on the Latvian volunteers who served with the German Waffen SS during WWII.
www.karamuzejs.lv
Make sure your health care insurance is sufficiently covered.
Maybe this is already covered in your regular health care insurance but often you will need to cover this with the travel insurance. Also a good travel insurance should cover the costs of travel for a relative in case of seriously illness or an accident.
The business trip travel insurance should also cover the costs of search, rescue and repatriation.
When you go on business trips on a regular basis, the easiest way to get insured is with an annual multi-trip insurance.
Keep in mind that you can also use this insurance for your pleasure trips so don`t forget to include to insure your leisure activities.
| General number | 112 |
| Police | 02 |
| Ambulance | 03 |
| Fire | 01 |
| Gas leaks | 04 |
For medical emergencies you can contact the following hospitals:
ARS Clinic, (C-4) Skolas 5
Has a 24-hour service in English, tel. 72 01 001
For emergencies at home, call tel. 72 010 05, 72 01 003
Riga Hospital
Nr. 1 Bruninieku 5
Tel. 73 66 375
Bolderaja Polyclinic
Kapteinu 7
Tel. 74 33 278
Latvian is the official state language of Latvia. It is also sometimes referred to as Lettish. There are about 1.4 million native Latvian speakers in Latvia and about 150,000 abroad.
Although in business people speak English, some Latvian phrases can always come in hand....
| Hello | Sveiki |
| How are you? | Kā jums klājas? (frm) Kā tev iet? (inf) |
| I’m fine, thanks. And you? | Paldies, labi. Un jums? |
| What’s your name? | Kā tevi sauc? (inf) Kā jūs sauc? (frm) |
| My name is ... | Mani sauc |
| Where are you from? | No kurienes jūs esat? |
| I’m from ... | Es esmu no ... |
| Pleased to meet you | Priecājos ar Jums iepazīties |
| Good morning | Labrīt |
| Good afternoon | Labdien |
| Good evening | Labvakar |
| Good night | Ar labunakti |
| Goodbye | Uz redzēšanos |
| Good luck | Laimīgs gadījums! Veiksmi! |
| Cheers/Good health! | Uz veselību! Priekā! (in happiness) |
| Have a nice day | Lai jums laba diena! |
| I don’t understand | Es nesaprotu |
| Please write it down | Vai jūs nevarētu Lūdzu to uzrakstīt? |
| How do you say ... in Latvian? | Kā jūs latviski sakāt ...? |
| Excuse me | Atvainojiet! |
| Thank you | Paldies |
| Response (You’re welcome) | Vienmēr laipni / Lūdzu |
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