The Official Development Agency of the City of Vilnius

Economic Overview

Compact, yet cosmopolitan. Relaxed, yet driven. Vilnius is a city built for business. In Vilnius you will find everything you need to take your business to the next level.

An ambitious talent pool that's young and internationally focused, an infrastructure primed to ger you up and running with the least amount of fuss, and a local and national government that's on hand to support you.
2nd

in the European Cities and Regions of the Future

Source: Financial Times, 2022

3rd

Mid-Sized Global City of the Future

Source: fDi Intelligence, 2021

2nd

Business Friendly Mid/Small-sized City

Source: fDi Intelligence, 2021

Top 5

least expensive EU capitals to live in for expatriates

Source: Mercer’s 2021 Cost of Living Ranking

8th globally

For economic freedom

Source: Frasier institute, 2021

11th globally

For Ease of Doing Business

Source: World bank, 2020

42.7%

Of national GDP is generated in Vilnius

Source: Statistics Lithuania, 2020

56%

of the 25–34-year-old population with higher education

Source: Eurostat, 2020 (age group 25-34)

72.1%

Of total national FDI settles in Vilnius

Source: Lithuanian statistics, 2020

Stable and western oriented political environment and economy

Member of EU since 2004
Member of NATO since 2004
Member of Eurozone since 2015
Member of OECD since 2018

Economy

Vilnius is the economic heart of Lithuania. It is the largest contributor to national GDP in the country.

Vilnius region generates 42.4% of the national GDP.

Vilnius’s economy is continually growing (GDP generated in Vilnius region in EUR):

2017: 17,2 billions | 2018: 18,9 billions | 2019: 20,6 billions | 2020: 21,1 billions 

Source: Statistics Lithuania, 2021


Vilnius is globally
recognized as an attractive destination for foreign direct investment. FDI to Vilnius region amounts to 72% of total FDI in Lithuania (in EUR):

2017: 10,5 millions | 2018: 11,9 millions | 2019: 12,7 millions | 2020: 18,1 millions

Source: Statistics Lithuania, 2021

Sectors with the largest growth potential in Vilnius are IT, fintech, global business services and high-tech manufacturing. You can find more information about them by clicking here.

Population

City population: 556 490 | Metropolitan area: 810 797  

Source: Statistics Lithuania, 2021

A steadily growing city: 

20180,4%  |  2019: 0,8% | 2020: 1,4 % | 2021: 1% 

Source: Statistics Lithuania, 2021


Vilnius' population ranks as one of Europe’s youngest. More than half of residents are younger than 40:

0-14: 18%  |  15-39: 32%  |  40-64: 34%  |  65+: 17%

Source: Statistics Lithuania, 2021


The workforce is continually growing (
thousands):

2016: 441,2  |  2017: 451,3  |  2018: 463,6  |  2019: 462,9  |  2020: 471,5 

Source: Statistics Lithuania, 2021

                                                               

  • Lithuania is Top 1 in the CEE for digital quality of life (Source: Surfshark, 2021)
  • 4th among EU countries where population aged 25-34 had completed tertiary education. (Source: Eurostat, 2021)
  • Top among EU countries with 23% of students enrolled in innovation related programs (Source: Ministry of Education, Science and Sports, 2021)
  • 85% of young professionals in Vilnius speak English. (Source: Invest Lithuania, 2021)



More Information

More Information

Costs and Taxation
Costs and Taxation

A great quality to cost ratio for your business growth.

Key Sectors
Key Sectors

Vilnius – a go to destination for a new results.

Setting Up a Businesss
Setting Up a Businesss

Want to grow your business, choose Vilnius!

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