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Europe’s Tiniest Hidden Gem: Well-Off Population and Love for Crypto. Latvia

Here’s how it usually works: we pay attention to small geos ONLY in case they can bring us good CPA or CPL rates. European ‘dwarfs’ are perfect examples of such. 

At the same time, a modest traffic volume is unlikely to make a big difference for us. 

Latvia usually gets the attention of those who know how to work with Tier-2 countries, especially in Europe, and are looking for options to diversify and scale. 

In this really quick article, we’ll break down the specifics of Latvia as a country and the mentality of its people to maximize your chances to find a profitable bundle. And fast. 

Latvia: General overview

As of 2023, less than 2 million people are living in Latvia. It’s one of the smallest countries in Europe. Just like it happens in neighboring Lithuania, the Latvian population is steadily decreasing. People leave in pursuit of a better life in Western Europe or America. Plus, the low birth rate in Latvia does not keep up with the mortality rate.

The Internet is more than available for everybody, and its speed is quite satisfying.

More than 92% of residents go online. The average speed of mobile Internet is 30 Mb/s, and landline connection exceeds 60 Mb/s.

The prices, though, are quite high. 1 Gb of mobile traffic, on average, costs ~$3.5:

But still, there is no point in limiting yourself. Feel free to use video creos or landing pages with functional but heavy elements. Keep in mind some basic optimization, and you’re all good.

The main language is Latvian. And you’d probably want to make creos in this language if you’re targeting locals. 

There are also a lot of Russian-speaking people in this geo, especially among 35+ y/o. You can direct traffic from Latvia to Ukrainian, Polish, and even Belarusian desks (if you manage to find such CC).

Currency — euro.

Paychecks in Latvia are pretty much average by European standards. After paying taxes, an average citizen gets $1,500-2,000 to spend. This is quite enough to keep a balanced lifestyle, but is not enough for comfort which is quite costly. 

Some move to more prosperous countries, while others are looking for a way to make extra on the side. That is why your offer to invest in an interesting project may be relevant to many. 

Average salaries, by specialization: 

  • Nurse: 1,300 euro;
  • Teacher: 1,100 euro;
  • Waiter: 1,000 euro;
  • Engineer: 2,000 euro;
  • Dentist: 2,200+ euro;
  • Administrator: 800+ euro;
  • Police officer: 600+ euro;
  • Software engineer: 3,000 euro.

Unemployment issues aren’t new to Latvia: not everybody who’s got a degree finds a decent job. Which, of course, could be mentioned in your creos.

More than 60% of the population works in the service industry. They are the people you want to show off in your ‘success story’ creatives.

The largest cities:

  • Riga (capital): 745,000 residents;
  • Daugavpils: 112,000 residents;
  • Liepaja: 85,000 residents;
  • Jelgava: 60,000 residents;
  • Jurmala: 52,000 residents.

There is no point to limit targeting: the population is tiny enough. Also, residents of towns and villages usually have both money and access to online banking systems to be considered your target audience. 

It is not very common here to show off one’s wealth in public. Villas and yachts and other elements of the so-called luxury life won’t make the necessary effect. 

Supporting the family, paying for kids’ college, and buying a decent, not the most expensive, house and cars are the best options. 

Latvians are usually restrained and far less emotional than southern. Information should be presented clearly, in a structured manner, and supported with proofs, such as receipts.

Latvia loves crypto. Legally, the state does not restrict this type of currency in any way and has little control over the market. Making money from crypto and not paying taxes is quite common here. The population is actively using crypto as a payment tool, means of savings, and investments. Latvia is in the top 15 countries by the number of BTC sellers per capita.

Most popular websites:

Best sources of traffic:

  • Facebook;
  • Google Ads;
  • Push;
  • Native;
  • Pops;
  • Email.

There isn’t that much traffic on this geo in advertising networks. So, if you do not work with social networks or email newsletters, and make use of native advertising or pop-ups – you’d better direct traffic from several networks at the same time. Otherwise, you may not be able to get the desired volume.

Latvia: The people

Latvians are quite OK with how their country is being developed. For us, it means the green light for using politicians in your bundles. 

The businessmen are treated ambiguously, but still, they can also be used in some creos. Sportsmen and women, actors and singers are also trusted.

Here is a list of people who could be called Latvian opinion leaders:

  1. Kristaps Porzingis. Basketball player
  1. Elīna Garanča. Singer.
  1. Jeļena Ostapenko. Tennis player.
  1. Egils Levits. President of the country.
  1. Krišjānis Kariņš. Prime Minister of Latvia.
  1. Oļegs Fiļs. Businessman, a shareholder of ABLV bank.
  1. Elya Baskin. Actor.

Additional details

Popular banks:

  • Swedbank;
  • ABLV Bank;
  • SEB banka;
  • Rietumu Banka;
  • DNB banka;
  • Citadele banka;
  • PrivatBank.

Popular TV channels:

  • LTV1;
  • LTV7;
  • Rīga TV24;
  • TVNET.

Major Internet media:

  • delfi.lv;
  • jauns.lv;
  • www.tvnet.lv;
  • mixnews.lv;
  • lsm.lv.

Popular TV shows:

  • Cina par sapni. RFS ’22;
  • Balss Maska;
  • Meallions Show;
  • Tayny kurortnogo otelya;
  • Latviesi Kanadas kraces.

Latvia may be a small country, but it’s well-off population that is really interested in both crypto and investments. While the country’s geographical location is perfect for expanding across Europe and maximizing profits.

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