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:
2018: 0,4% | 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)
