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The village is situated on the border between Norway and Finland 18 kilometres (11 mi) south-east of the Norwegian village of Karasjok. It lies on the banks of the river Inarijoki (Anarjohka), which, downstream of Karigasniemi, joins the river Karasjohka to form the famous salmon fishing river Tana.
Karigasniemi is home to about 300 people, of which more than half are Sámi. There are one grocery store, two petrol stations and three bars and restaurants, mostly because of a lot of border traffic from the Norwegian side. There is also, a school and a small health care center in the village.