More than forty percent of Latvian citizens engage in additional income-generating activities outside their primary jobs.
In March 2025, the Swedbank Finance Institute conducted a survey among 1,006 Latvian residents aged 18 to 74, shedding light on the ways people supplement their income and the obstacles they face.
According to the survey, freelance work, part-time jobs, and offering various services outside primary employment are popular methods for earning extra income. However, many Latvians grapple with bureaucratic hurdles, balancing work and family responsibilities, and irregular work schedules.
The survey revealed that for 42% of respondents, additional income is vital to meet their basic needs. On the other hand, for 58% of respondents, earning extra income is a choice, not a necessity.
One of the main obstacles preventing people from earning extra income is lack of time, accounting for 40% of the reasons given. Fear of failure is the second most common obstacle (24%), followed by lack of skills (19%) and lack of demand for side services (12%).
Interestingly, 4% of respondents earn extra income by offering handicrafts and artwork, 7% by selling home-made food products, 10% through consulting, 10% by providing services, and 5% by renting out property.
The survey did not provide information on the percentage of respondents who do not face any obstacles in earning extra income or on the demographic distribution of respondents who face these obstacles. Additionally, the survey did not delve into the correlation between these obstacles and the amount of extra income earned.
Despite these limitations, the survey highlights the need for addressing the challenges faced by those seeking to earn extra income. As more people turn to digital platforms to find side jobs, efforts should be made to ensure digital literacy and access are not further barriers for certain groups.
In conclusion, the survey by the Swedbank Finance Institute provides valuable insights into the ways Latvians earn extra income and the obstacles they face. By addressing these challenges, we can help more people capitalize on extra income possibilities and improve their financial wellbeing.
In the realm of finance and business, the Swedbank Finance Institute's survey unveiled that for many Latvians, additional income is essential to meet basic needs (42%), while for others, it's a chosen means to augment their current income (58%). However, freelancers and part-time workers often encounter hurdles such as lack of time, fear of failure, and bureaucratic complexities. Interestingly, some Latvians leverage their skills in handicrafts, food sales, consulting, services, or property rentals to supplement their income.
