Travel And Tourism in Latvia
Euromonitor International's Travel And Tourism in Latvia report offers a comprehensive guide to the market at a national level. It looks at travel accommodation, transportation, car rental, tourist attractions and retail travel. It identifies the leading companies and offers strategic analysis of key factors influencing the market, including background information on disposable income, annual leave and holiday taking habits.
Buy online to access strategic market analysis and an interactive statistical database of market size data for travel accommodation, transportation, car rental, travel retail, tourism attractions and health and wellness tourism, tourism inflows and outflows, tourism spending and company and brand shares.
Tables: 55 | Publication date: Jan 2009
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive environment
Product coverage
Car rental; Demand factors; Health & wellness tourism; Tourism flows domestic; Tourism flows inbound; Tourism flows outbound; Tourism receipts and expenditure; Tourist attractions; Transportation; Travel accommodation; Travel retail
Executive summary
Entry of the Baltic states into the Schengen Zone
One of the factors which may have a significant impact on travel and tourism in the Baltic states is the enlargement of the Schengen Zone and the addition of the Baltic states to the list of Schengen countries. The expansion will make it easier for tourists to travel within the larger part of Europe, and thus it is welcomed by the tourism industry. Some industry sources warn that the number of visitors to the new Schengen countries may eventually slip because of increased visa fees and a more complicated process of obtaining visas from neighbouring Russia, Belarus and some other countries. However others remain more optimistic, seeing opportunities in having more tourists from Japan and the US, for example. Prior to this, the number of tourists from neighbouring non-EU states to Schengen countries had increased each year.
Investments in Latvia
At the beginning of January 2007, the European Bank for Reconstruction and Development (EBRD) had signed off on 31 investment projects in Latvia, totalling almost EUR322 million. This has helped to generate an additional EUR663 million from other sources. Some 64% of the total investment is in the private sector, which drives economic development in the country. In 2007, the Latvian government announced plans to invest some EUR2.9 million in the development of travel and tourism. The money will be invested in renovating Latvian places of interest, including museums and castles, as well as issuing booklets about Latvia and boosting Latvia's image abroad through an organised PR campaign. Between 2007 and 2013, some EUR42.3 million from EU structural funds will be invested in the development of the Latvian travel and tourism industry. Monies will be invested in the development of infrastructure and tourism services.
Conference tourism has growth prospects
Latvia recently hosted two major international events, which helped promote both tourism and the country as a whole: the World Hockey Championships were held in May 2006 and the NATO summit in November 2006. In 2006, Latvia ranked 39th in the world according to the number of large international meetings held in the country. Conference tourism in growing in popularity and has a promising future given Latvia’s favourable geographical location and the availability of cheap flights. Latvia has become the Baltic region's business tourism centre. Some 50 congresses and conferences took place in Riga in 2006. The Latvian capital needs more conference halls. The Employers’ Confederation of Latvia announced that several private investors will be involved in the construction of a conference centre on state-owned land on Zakusala Island. The centre will be capable of seating 3,000 to 4,000 guests. In 2006, conference tourism brought Riga revenue in excess of EUR85 million. Business tourism in Latvia offers great future potential.
Rural tourism development
More and more Latvians prefer the countryside for a holiday, pushing demand for rural tourism ever higher. Rural tourism in Latvia is developing and becoming more commercial. In 2007, the cost of rural accommodation increased by about 14%. The Labirinti campsite in Bauska and the Lantus countryside guest house in Valmiera, for example, offer trips around a farm, campsite accommodation, and playgrounds. The Lantus countryside guest house also offers fishing, bird watching, and horse riding. The quality of accommodation is also rising. Similarly, within the context of an ecotourism project funded by the European Regional Development Fund, natural meadows were re-instated, a nature trail constructed, and reference points and parking places were developed in Kuldiga, western Latvia.
Table of contents
TRAVEL AND TOURISM IN LATVIA : MARKET INSIGHT
EXECUTIVE SUMMARY
Entry of the Baltic states into the Schengen Zone
Investments in Latvia
Conference tourism has growth prospects
Rural tourism development
KEY TRENDS AND DEVELOPMENTS
Economic Stability Drives Tourism Development
Health Tourism
Hotel Development in Latvia’s Regions
Rising Internet Penetration Impacts the Tourism Industry
MARKET INDICATORS
Table 1 Length of Domestic Trip: 2002-2007
Table 2 Length of Outbound Departure: 2002-2007
MARKET DATA
Table 3 Arrivals by Country of Origin: 2002-2007
Table 4 Arrivals by Method of Transport: 2002-2007
Table 5 Arrivals by Purpose of Visit: 2002-2007
Table 6 Incoming Tourist Receipts: Value 2002-2007
Table 7 Forecast Arrivals by Country of Origin: 2007-2012
Table 8 Forecast Arrivals by Method of Transport: 2007-2012
Table 9 Forecast Arrivals by Purpose of Visit: 2007-2012
Table 10 Forecast Incoming Tourist Receipts: Value 2007-2012
Table 11 Departures by Destination: 2002-2007
Table 12 Departures by Method of Transport: 2002-2007
Table 13 Departures by Purpose of Visit: 2002-2007
Table 14 Outgoing Tourist Expenditure: Value 2002-2007
Table 15 Forecast Departures by Destination: 2007-2012
Table 16 Forecast Departures by Method of Transport: 2007-2012
Table 17 Forecast Departures by Purpose of Visit: 2007-2012
Table 18 Forecast Outgoing Tourist Expenditure: Value 2007-2012
Table 19 Domestic Trips by Purpose of Visit and by Method of Transport: 2002-2007
Table 20 Domestic Tourist Expenditure: Value: 2002-2007
Table 21 Forecast Domestic Trips by Purpose of Visit and by Method of Transport: 2007-2012
Table 22 Forecast Domestic Tourist Expenditure: Value: 2007-2012
Table 23 Tourist Attractions: Value 2002-2007
Table 24 Forecast Tourist Attractions: Value 2007-2012
Table 25 Forecast Tourist Attractions Internet Transaction Sales: Internet Transaction Value 2007-2012
Table 26 Health and Wellness Tourism Sales: Value 2002-2007
Table 27 Forecast Health and Wellness Sales: Value 2007-2012
Table 28 Balance of Tourism Payments: Value 2002-2007
DEFINITIONS
Tourism Parameters
Travel accommodation
Transportation
Car rental
Travel retail
Internet sales
Summary 1 Research Sources
TRAVEL ACCOMMODATION IN LATVIA
Trends
Prospects
Sector Data
Table 29 Travel Accommodation Sales by Sector: Value 2002-2007
Table 30 Travel Accommodation Outlets by Sector: Units 2002-2007
Table 31 Regional Hotel Parameters 2007
Table 32 Travel Accommodation by Sector: Number of Rooms 2005-2007
Table 33 Travel Accommodation by Sector: Number of Beds 2005-2007
Table 34 Travel Accommodation Internet Sales: Internet Transaction Value 2002-2007
Table 35 Hotel Company Rankings 2005-2007
Table 36 Forecast Travel Accommodation Sales by Sector: Value 2007-2012
Table 37 Forecast Travel Accommodation Outlets by Sector: Units 2007-2012
Table 38 Forecast Travel Accommodation Internet Sales: Internet Transaction Value 2007-2012
TRANSPORTATION IN LATVIA
Trends
Prospects
Sector Data
Table 39 Transportation Sales by Sector: Value 2002-2007
Table 40 Transportation Internet Sales: Internet Transaction Value 2002-2007
Table 41 Airline Company Rankings 2005-2007
Table 42 Forecast Transportation Sales by Sector: Value 2007-2012
Table 43 Forecast Transportation Internet Sales: Internet Transaction Value 2007-2012
CAR RENTAL IN LATVIA
Trends
Prospects
Sector Data
Table 44 Car Rental Sales: Value 2002-2007
Table 45 Car Rental Company Rankings 2005-2007
Table 46 Forecast Car Rental Sales: Value 2007-2012
Table 47 Forecast Car Rental Internet Sales: Internet Transaction Value 2007-2012
TRAVEL RETAIL IN LATVIA
Trends
Prospects
Sector Data
Table 48 Travel Retail Outlets: Units 2002-2007
Table 49 Travel Retail Products Sales: Value 2002-2007
Table 50 Travel Retail Products Internet Sales: Internet Transaction Value 2002-2007
Table 51 Travel Retail Products Company Rankings 2005-2007
Table 52 Forecast Travel Retail Outlets: Units 2007-2012
Table 53 Forecast Travel Retail Products Sales: Value 2007-2012
Table 54 Forecast Travel Retail Products Internet Sales: Internet Transaction Value 2007-2012