In 2019, domestic trips and outbound departures continued to see growth, mainly due to the improving economic conditions in Latvia. The growth in the economy had a direct effect on consumers’ disposable incomes, which made them more willing to spend on travel and tourism throughout the year.
Online travel sales in Latvia are rising rapidly, and accounting for a larger share of sales. Airlines is the strongest category for online sales, as many of the low-cost carriers only sell tickets online.
Global travel brands actively entered Latvia within lodging and intermediaries in 2018 and 2019, increasing the image of a country as a great travel destination for domestic and international travellers. One of the biggest global tour operators, TUI, entered the Latvian market in October 2018.
Latvia still has strong potential for growth in business tourism, although the infrastructure needs improvement in order to attract more events. During the high season, Riga, as the main business travel destination in Latvia, experiences a lack of lodging, as well as a lack of proper facilities for big conferences.
In the forecast period, all travel and tourism measures are expected to see healthy growth in Latvia. Domestic and outbound travel will mainly be driven by the continuing improvement of the economic situation, which will positively affect consumers’ disposable incomes.
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