RIGA, May 12 (Xinhua) -- Riga has emerged as the Baltic capital with the highest cost of living, because residents of the Latvian capital spend a higher share of their income on food, housing and transport than residents of Tallinn and Vilnius, according to a new Swedbank survey released on Wednesday.
The survey on the cost of living in the Baltic capitals found that the average monthly income of a family of four is 2,897 euros in Tallinn, 2,207 euros in Vilnius and 2,020 euros in Riga. Compared to a similar study conducted in 2018, the average family income has grown by 38 percent in Vilnius, by 26 percent in Riga and by 18 percent in Tallinn.
Meanwhile, expenses on food, housing and transport make up 38 percent of families' income in Riga, 29 percent in Vilnius and 24 percent in Tallinn.
Swedbank representative Evija Kropa said that the main reasons for the comparatively high cost of living in Riga are growing housing-related expenses, higher transport costs and lower average net income. By contrast, housing-related expenses in Vilnius and Tallinn have been decreasing.
A comparison of food, housing and transport costs showed that food products are the most expensive in Tallinn. Housing and transport are the costliest in Riga, while residents of Tallinn enjoy free public transport services.
Swedbank Institute of Finances conducted the survey in the first quarter of 2021. Enditem
