IMD World Talent Report 2023

Talent Ranking 2023

LATVIA

u w

Overall top strengths Overall top weaknesses

OVERALL PERFORMANCE (64 countries)

Rank 2023

2019

2020

2021

2022

2023

12

Overall

14

39

15

16

21

Investment & Development

27

21

30 33

33

34 40

36

39 40

40

58

Appeal

46

48

49

51

40

Readiness

58

Investment & Development Total public expenditure on education

Value

2023 Rank

5.6 %

16 37 21 20 30 45

u

Percentage of GDP

4,965 US$ 12.31 ratio 10.53 ratio

Total public exp. on education per student Spending per enrolled pupil/student, all levels Pupil-teacher ratio (primary education) Ratio of students to teaching staff Pupil-teacher ratio (secondary education) Ratio of students to teaching staff are sufficiently implemented

u u

5.25 Survey [0..10] 5.63 Survey [0..10]

Health infrastructure Female labor force Apprenticeships Employee training

meets the needs of society Percentage of total labor force is a high priority in companies

49.94 %

4

u w

4.04 Survey [0..10]

51

Appeal

Value 74.95 index

2023 Rank

Cost-of-living index

36 59 46 48 57 49 46 34 39 24 29 33 36 45 54 46 45 49 46 47 34 14 29

Index of a basket of goods & services in the main city

5.71 Survey [0..10] 5.25 Survey [0..10] 3.67 Survey [0..10] 4.29 Survey [0..10] 4.21 Survey [0..10]

Attracting and retaining talents

w

is a priority in companies

Worker motivation

in companies is high

Brain drain Quality of life

does not hinder competitiveness in your economy

w

is high

Foreign highly skilled personnel Remuneration of management Collected personal income tax

are attracted to your country's business environment Total base salary plus bonuses and long-term incentives, US$ On profits, income and capital gains, as a percentage of GDP

99,037 US$

5.98 %

5.54 Survey [0..10] 12.38 micrograms

Justice

is fairly administered

Statutory minimum wage Exposure to particle pollution

Mean population exposure to PM2.5, Micrograms per cubic metre

526.52 US$

Statutory gross monthly minimum wage

Readiness

Value 1.79 %

2023 Rank

Labor force growth

Percentage change is readily available are readily available

5.04 Survey [0..10] 5.63 Survey [0..10] 4.77 Survey [0..10] 4.77 Survey [0..10] 5.33 Survey [0..10] 5.58 Survey [0..10] 5.71 Survey [0..10] 6.50 Survey [0..10]

Skilled labor Finance skills

International experience

w

of senior managers is generally significant

Competent senior managers Primary and secondary education

are readily available

meets the needs of a competitive economy

19.33 %

University education Management education Graduates in Sciences

w

% of graduates in ICT, Engineering, Math & Natural Sciences

Foreign tertiary-level students per 1000 inhabitants meets the needs of a competitive economy meets the needs of the business community are meeting the needs of enterprises

Language skills

5.32 number 487 Average

Student mobility inbound

u

Educational assessment - PISA

PISA survey of 15-year olds

74