Over a third of Latvian citizens engage in additional income-generating activities
The Swedbank Finance Institute recently conducted a comprehensive population survey, involving 1,006 Latvian residents aged 18 to 74, to explore the trend of extra income sources in the country. The survey, carried out by Snapshots in March 2025, revealed some interesting findings.
One of the key findings was that 10% of the respondents earn extra income through consulting, while 7% do so through household work. Another 10% earn extra income by providing services, and 5% manage to earn even more - over €800 per month. However, the professions of those earning more than 800 euros per month were not explicitly detailed in the survey results. Common supplementary income sources often include digital services, delivery jobs, private car sharing, and other flexible freelance activities.
Fear of failure was identified as the second most common obstacle preventing people from earning extra income, with 24% of respondents citing this as a reason. Lack of time was the main obstacle, with 40% of respondents stating this as their reason. Lack of skills was the third most common obstacle, with 19% of respondents indicating this as a barrier.
Interestingly, for 42% of respondents, additional income is vital to meet their basic needs. Conversely, for the majority (58%), earning extra income is a choice, not a necessity.
Investments and renting out property were other sources of extra income for 12% and 5% of respondents, respectively. The survey also found that the majority (70%) of those who earn additional income earn up to €200 per month.
The obstacles preventing people from earning extra income were found to be mostly individual and not related to systemic problems, according to the survey.
In conclusion, the Swedbank Finance Institute's survey provides valuable insights into the extra income landscape in Latvia. While fear of failure, lack of time, and lack of skills are common obstacles, there are numerous opportunities for individuals to supplement their income through various means, such as digital services, delivery jobs, and investments.
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