Investment climate
Investment climate

Digital City – The Transformation of Lithuania’s Capital

June 16, 2021

The Covid-19 global pandemic has impacted every corner of the world, creating a crisis which has presented every international market with unprecedented challenges. One nation which has effectively confronted these challenges is Lithuania, the home of Delete / Kagool’s new office and the centre of their ambitious European expansion.

Lithuania rated first in Europe in Euromonitor’s International Recovery Index, where it was also named one of the five countries expected to fully recover with consumer demand. This is largely a result of an effective pandemic response, as well as a continued fiscal stimulus which reflects the countries growing development as a Digital Media epicentre. According to the latest report by Invest Lithuania, 87% of FinTech’s operating in the country saw their revenue increase in 2020, a glowing representation Lithuania’s market stability.

The capital, Vilnius, prides itself on being a completely digital collaborative space. It’s transparent open-data policy allows businesses and citizens to access and contribute to a vast number of datasets, whilst it’s public WiFi is ranked the fastest in the world. This allows you to be plugged in, anywhere and anytime, with no barriers restricting the growth of your business. Solutions like these are part of a clear digital shift sweeping throughout Lithuania, and it has had a remarkable effect on its younger demographic. Lithuania ranked second among countries in the EU for the highest share of young people with digital skills, with more than 90% of young Lithuanians having digital competencies. It’s these factors which have made Vilnius the preferred destination for businesses and young entrepreneurs.

Recent times have seen several internationally reputable companies choosing Vilnius as their centre for presenting innovative changes to the digital industry. Some of these companies include IBM, Nasdaq and Revolut; as well as prominent start-ups Vinted, CityBee and Trafi. Lithuania’s business-friendly ecosystem provides a flexible groundwork for these tech companies to blossom, including affordable office space, advantageous tax privileges and state support services. These features have culminated in an excitingly competitive market and has moved Vilnius in to the top 25 of fDi’s ‘Global Cities of the Future 2021/22’.

Vilnius reputation as a smart city is only possible through its approach towards work-life balance, a natural fit for the efficient culture at Delete / Kagool. The compact nature of the city means most destinations can be travelled to by cycling or walking, allowing less time commuting to work and more time for leisure activities.

Delete / Kagool’s office is situated in Vilnius’ Old Town, a now youthful and vibrant coworking space, with some of the best bars in the presence of stunning historic architecture. This attitude is not only important for the physical and mental wellbeing of their employees, but also creates a local business community with tremendous opportunity for cooperative business growth.

Goda Sniokaite, Delete / Kagool’s Regional Director in Europe, had this to say about life in Vilnius;

“The city has been transformed over the past ten years as young people have returned to settle in the city; bringing an international flavour not only to the food but also to the digital culture here. It is loud, vibrant, ambitious city; a wonderful place to live and work.”

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Aistė Žebrauskienė
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    Aistė Žebrauskienė Press Officer
    Thank you!

    Thanks for reaching out to us, this means a lot! We will get back to you shortly.

    Meanwhile, we invite you to discover what’s new in the Lithuanian business landscape.

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