It’s cheaper to stay in Amsterdam in a great hotel for 1 week then 3 days in Riga.
Just show me some examples. In Riga, I can find the 2-stars hotel for you for about 20-30 Euros. The same level hotel in Amsterdam would be 40-50 euros.
Meal... well, it's a painful topic. I personally give shit to all those hamburgers, shavermas and all the other shitfood we can ONLY find in Netherlands for tourists. If you would like to eat a soup, or to eat something healthy, it's a big problem in Amsterdam.
Riga? Well, take our Lido restaurants, for example. You will never eat such things in other places of Earth. It's unique Latvian dishes, and the prices are more than acceptable and much lower than in Europe. For about 10 Euros you could eat in full there; for 10 Euros in Europe you may purchase a coffee, hot dog and chocolate.
However you definitely have a right about "strong" Lat, as I already mentioned
it. That's our biggest problem so far, but not the prices. May be you just went in wrong places, because they are mostly advertised for tourists by expensive brochures which are even not known for us, the local auditory living here.