By attracting international students, RSU's impact on the Latvian economy could reach one billion euros by 2030

On Tuesday, March 4, the Latvian Institute of Strategy and Economic Solutions (LaSER) presented the findings of a study on the impact and added value of higher education exports on the Latvian economy at the Medical Education Technology Center of Rīga Stradiņš University (RSU). The study is titled "Foreign Students in Latvia: A Source of Growth?".

The study analysed the impact of international students on Latvia’s education sector, labour market, and economic development. It examined the responses of 1,809 participants, providing a detailed insight into the profile of international students, their perception of studying in Latvia, and the opportunities they create for the country's economy and education sector. To calculate their economic contribution, data was collected on student expenditures (tuition fees, housing, living expenses) as well as the economic impact of visitors who come to Latvia because of these students. For comparison, data from a similar survey conducted in 2016—analysing the same cost categories—was used.

The contribution of higher education export

‘Higher education export represents a rapidly growing sector of the Latvian economy with significant growth potential,

as global demand for accessible and high-quality higher education continues to rise. The contribution of higher education export to the Latvian economy is estimated at approximately 385 million euros, or just under 1% of GDP. However, despite the increasing number of international students in Latvia, only a small fraction of them choose to stay on in the country after completing their education. The main reasons for this are low salaries and limited job opportunities that allow for daily communication in English,’ explained Daunis Auers, Chairman of the Board at LaSER.

Discussion on the development of higher education export

A discussion on potential strategies for leveraging higher education exports for economic growth, moderated by RSU Vice-Rector Toms Baumanis, was held following the presentation of the study by University of Latvia Professor Daunis Auers. The panel included Riga Mayor Vilnis Ķirsis, economic expert Ģirts Rungainis, Parliamentary Secretary of the Ministry of Health Artjoms Uršuļskis, and LaSER Professor Daunis Auers.

International students’ economic contribution to Latvia

‘Only 15% of students in Latvia are international students, whereas at our university alone, there are currently more than 3,000 international students—accounting for over a quarter of the total student body.

The economic contribution of RSU’s international students to Latvia reached 139 million euros last year, and it is projected to grow to one billion euros by 2030,’

emphasised RSU Rector Professor Aigars Pētersons.

RSU and RTU have the largest number of international students

According to operational data from the Latvian Ministry of Education and Science (IZM), 11,600 international students started their studies in Latvia in the 2024/2025 academic year. The largest concentration of international students is found at two universities—Riga Technical University (RTU) and RSU. They have gained popularity in particular due to their international reputation and extensive range of English-taught programmes.

Sources of funding for international students

The world’s most prestigious universities, including those in Europe, are highly international, with more than half of their student body comprising foreign students. In Latvia, however, only 3% of international students receive government scholarships to finance their studies. The remaining 97% rely on personal funds, family support, or other external resources, thereby generating new financial flows into the Latvian economy. Data shows that only 5% of foreign graduates choose to stay in Latvia after completing their studies.

Latvia – the Baltic leader in higher education export

As highlighted in the study, data on higher education export is compiled within national statistics on international trade in services. Latvia stands out in this segment with remarkable achievements—in 2022, the volume of higher education exports reached 98 million euros, solidifying Latvia’s position as the leader in the Baltic region. This growth is supported by a well-structured higher education system that offers a wide range of programmes in English.

The LASER study