FICIL Sentiment Index
The aim of the FICIL Sentiment Index is to summarise the key concerns and suggestions of major foreign investors in Latvia – representatives of companies that have chosen to invest in the country and have been operating here for a considerable period of time. The FICIL Sentiment Index is commissioned by the Foreign Investors’ Council in Latvia (FICIL) and conducted with the involvement of Dr Arnis Sauka, Director of the Centre for Sustainable Business at SSE Riga.
In 2025, marking the tenth consecutive year of the Sentiment Index research, FICIL, in cooperation with the Stockholm School of Economics in Riga (SSE Riga) and RTU Riga Business School (RBS), broadened the scope of the study to cover the entire Baltic region for the first time. This year, the research focused on the overall investment climate across Estonia, Latvia, and Lithuania, placing particular emphasis on government efficiency, regional cooperation, and the role of EU support in strengthening the Baltic States.
A total of 118 companies participated in the research, including 58 from Latvia, 32 from Estonia, and 28 from Lithuania. Participating companies met the criteria of having at least 50% foreign capital and an annual turnover exceeding EUR 145,000.
Foreign investment continues to be a cornerstone of the Baltic economies. In Latvia alone, companies with foreign capital contribute 45% of all taxes paid and generate 41% of total business turnover, highlighting the vital role these investors play in driving economic growth across the region (Lursoft, 2024).
FICIL Sentiment Index 2024: The Baltic States Edition
Video recording below from the pan-Baltic high-level conference “Beyond Borders: Investment & Security in the Baltics,” held on May 26, 2025, featuring the presentation of the FICIL Sentiment Index 2024 by Professor Arnis Sauka, followed by a panel discussion on investment trends in the region.
Previous editions of the Ficil Sentiment Index are available here.
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