Riga starts to live within its means

  • 2010-04-08
  • By Kira Savchenko
Over the past two years Riga’s retail landscape has changed beyond recognition. Now it is a desolate wasteland, with all the high-end luxury goods outlets replaced by stores selling cheap imitations to accomodate consumers’ wallets.Since Latvia entered the European Union in 2004, till the end of 2007, when the crisis hit the tiny Baltic state hard, new restaurants, with languorous waiters, and pretentious boutiques were bourgeoning nonstop in the center of Riga.Consumers who were so thirsty for a bit of bling during the impoverished Soviet years borrowed money well be...
 
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