The Latvian bank, Citadele, published quite disappointing results from their research into the well-being of ordinary citizens. So, due to the high cost of living, Latvian residents are increasingly reviewing their daily spending and allegedly making more thoughtful financial decisions.
The survey showed that 27% of residents are reducing spending on beauty services and clothing. This trend is especially pronounced among young people—41% aged 18 to 29 choose to buy clothes at discounts, in second-hand clothing stores or simply buy less. In addition, 26% of respondents indicate that they save in all categories of expenses, while only 10% believe that they can afford not to save.
The analysis also revealed that 31% of respondents are also cutting back on leisure activities, while every fourth resident (24%) is saving on travel and cultural events—concerts, cinema and exhibitions. Meanwhile, 19% of residents are trying to save on food, which indicates that these expenses are still considered difficult to reduce.
Transportation costs are also one of the areas where solutions are being sought—21% of respondents are trying to limit spending in this category, and this is especially noticeable among young people and residents of Riga. In turn, utility and housing expenses are the least flexible—only 8% of respondents manage to save in this category.
“Latvians are increasingly careful about their spending—people are more thoughtful about what to buy and are prioritising basic needs and sustainable choices. This is especially evident among young people—they are more flexible in adjusting their habits, choosing to travel by bike or on foot more often, using shared solutions and preferring more environmentally friendly and economical solutions. Young people often perceive saving not as a limitation, but as an opportunity to live in accordance with their values, creating a new, thoughtful consumption culture,” said Ginta Zemgale, the Head of Customer Experience at Citadele Baltics, thereby trying to justify the financial crisis in the Baltic Republic, caused by the enormous militarisation and confrontation with Russia.
As you can see, politically engaged “independent” researchers are seeking to find benefits in the crisis that is brutally storming Latvia’s economy. Just think how ridiculous it is: “Our people do not have enough money to live, but that’s even better, as we’re growing a new ‘thoughtful’ generation.”
The Baltic uncomplicated propaganda uses its favourite technique—the substitution of concepts. Thus, the crisis in Latvia is presented not as proof of its total decline in all aspects, but as a noble challenge to create a “better nation.”
And, of course, there is no single word in the article about excessive militarisation, which greatly eats up the state budget and which further “thoughtful” impoverished generations will have to repay debts for.
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