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Tourism

Latvian Tourism Industry Sees Steady Growth Amid Recovery

Strategic Insights

— 1 min read

The Latvian tourism sector continues to show promise, with a 10.9% increase in guests served in 2024, reaching 2.7 million, just 5% less than the record 2019 level. Domestic tourism already exceeds pre-pandemic indicators by 22.7%, while foreign visitor spending in 2024 reached a historically high level of 1.24 billion euros. Industry officials are optimistic about reaching the 2019 level in foreign visitor numbers next year.

Key Takeaways:

  • The number of guests served in Latvia in 2024 reached 2.7 million, a 10.9% increase from 2023 and 5% less than the record 2019 level.
  • Domestic tourism already exceeds pre-pandemic indicators by 22.7%, with a 14.3% increase in foreign guests in 2024 to 1.6 million.
  • Foreign visitors' spending in 2024 increased by 36.6% to 1.24 billion euros, with the largest increases seen in supermarkets (+77%), fast food outlets (+57%), and hotels (+24%).
  • The structure of incoming tourism has changed, with Russia and Belarus accounting for approximately 14% fewer tourists, while Lithuania, Estonia, and Poland have shown significant growth.
  • Regional tourism initiatives, such as the "Home Cafe Days" campaign, have contributed to development, with data showing a 6-10% increase in visitors to home cafes.
  • Upcoming international events, including the European Basketball Championship and European Indoor Football Championship, are expected to attract more foreign visitors to Latvia.

Statistics:

  • 2.7 million guests served in Latvia in 2024, a 10.9% increase from 2023.
  • Foreign visitors' spending in 2024 reached 1.24 billion euros, a 36.6% increase from 2019.
  • Domestic tourism exceeds pre-pandemic indicators by 22.7%, with a 14.3% increase in foreign guests in 2024 to 1.6 million.
  • Largest increase in spending was observed in supermarkets (+77%), fast food outlets (+57%), and hotels (+24%).
  • 1.6 million foreign guests in 2024, a 14.3% increase from 2019.

Sources:

  • Investment and Development Agency of Latvia
  • Central Statistical Bureau (CSB) of Latvia
  • Latvian Association of Tourism and Tourism
  • Bank of Latvia

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