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.
11th globally

For Ease of Doing Business

Source: World bank, 2020

13th globally

For economic freedom

Source: Frasier institute, 2018

41.8%

Of national GDP is generated in Vilnius

Source: Statistics Lithuania, 2019

70,2%

Of total national FDI settles in Vilnius

Source: Lithuanian statistics, 2019

2nd globally

For attracting projects with high-value jobs

Source: IBM Global location trends, 2018

1/3 residents

Work in foreign capital companies

Source: Lithuanian Statistics, 2018

7th

Mid-Sized Global City of the Future

Source: Financial Times, 2019

2nd

Smart Location of the Future FDI Strategy

Source: Financial Times, 2019

4th

Mid-sized European City of the future

Source: Financial Times, 2020

Stable and western oriented political envoronment 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 41.7% of the national GDP.

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

2015: 15 100 mln. | 2016: 15 800 mln. | 2017: 17 200 mln. | 2018: 18 900 mln.

Source: Statistics Lithuania, 2019


Vilnius is globally
recognized as an attractive destination for foreign direct investment.  FDI to Vilnius region amounts to 71% of total FDI in Lithuania:

2015: 9 500 mln. | 2016: 9 900 mln. | 2017: 10 500 mln. | 2018: 11 900 mln.

Source: Statistics Lithuania, 2019

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: 552 000  | Metropolitan area: 878 0000 

Source: Statistics Lithuania, 2019 Q1

A steadily growing city: 

2016: 0,2%  |  2017: 0,3%  |  20180,4%  |  2019: 0,8%

Source: Statistics Lithuania, 2018

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

0-14: 17%  |  15-39: 35%  |  40-64: 32%  |  65+: 16%

Source: Eurostat, 2018

The workforce is continually growing (thousands):

2014: 293,4  |  2015: 297  |  2016: 306,4  |  2017: 313,2  |  2018: 323,6

Source: Statistics Lithuania, 2018

                                                               

  • Lithuania is among the top 5 EU countries where all individuals aged 16-29 with tertiary education have above basic information skills. (Source: Eurostat, 2017)
  • Among the top 5 countries in the EU based on the share of the active population with tertiary education (ISCED). (Source: Eurostat, 2018)
  • First in CEE based on the share of population with tertiary education (ISCED) employed in science and technology. (Source: Eurostat, 2018)
  • 84% of young professionals in Vilnius speak English. (Source: Invest Lithuania, 2016)



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

Establishing and growing your business in Vilnius

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