With a location that is remote for most travelers, Riga and all of Latvia aren’t obvious destinations unless you are on a serious tour of the region. Those who go to the trouble to reach Riga will be rewarded with a pleasant and handsome city center along with very low prices (by European standards) for most everything.
This former Soviet country costs only a fraction of what you’d spend in nearby Scandinavia, with hotels and hostels available at prices that are drawing in the nightlife crowd from the UK looking for a cheap weekend break. The Old Town area is where you’ll find most hostels and hotels, and fortunately there is so much competition among restaurants and bars that deals are common and prices are quite low. If you can get a cheap flight, this is one of the better places for a stag weekend and that sort of thing.
In addition to the cheap and hearty local food and the free-flowing and cheap local lager beer, even the museums and other major attractions cost very little.