All countries in the world nowadays operate in open economy circumstances, making protection of their own markets. Therefore, each country has its own inside and outside or international aims. Connecting countries with same properties by aims, created regions. Looking from regions aspects, countries in some measure lose their essence and one of examples is European Union. It is very important to evaluate the level and problems of regional development for creation of the regional policy. There are a lot of indexes elaborated which show operation of factors and their effectiveness or its all-round effectiveness. It is very important to see and understand the influence of these factors to the regions development level, but each index is specialized and there is not joint international accepted method for its analyze and calculation.. For example, World Bank is using one measure system, but Russia- different. Latvia has elaborated totally different method, which is not connected with previous. Analyzing Latvian development index a lot of insufficiencies was stated. Founded, that a lot of factors, which have important influence on development (such as education, health level, corruption) were not included for the calculation of index. The article offers including variants of that factors and its ground. There are some problems because it is difficult to evaluate the influence of some factors, but it is necessary due to important role of those factors in regional development.