Latvian hospitality industry rapidly losing competitiveness - associations

Published date11 May 2022
Publication titleLETA

RIGA, May 11 (LETA) - The share of the hospitality industry in the Latvian economy has decreased from two percent to one percent during the two Covid-19 pandemics, according to statistics compiled by the Latvian Restaurant Association (LRB) and the Latvian Employers' Confederation (LDDK).

t the same time, the President of LRB Janis Jenzis points out that the Latvian hospitality industry is recovering more slowly than the Lithuanian and Estonian hospitality industries, as a result of which competitiveness is rapidly being lost.

Before the pandemic, Latvia's tourism turnover was almost EUR 1 billion a year, and last year this figure fell by about three quarters or 75 percent to EUR 244 million. Last year, Estonia gained EUR 542 million from inbound tourism, while Lithuania gained EUR 425 million.

Jenzis points out that the Crisis Management Committee formed by hospitality sector associations and the LDDK has been working on proposals both on restrictions and on state aid issues throughout the pandemic, but...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT