Growth in Latvian Business Tourism

The Latvian tourism industry has grown in recent years. Tourism statistics reveal that in 2023, 2.44 million guests were served in tourist accommodations, an increase of 12.1% compared to 2022 (1). Riga welcomed 1.2 million guests in 2023, and the number of tourists staying in Riga hotels has increased by 22% compared to 2022 (2). The overall development of tourism also contributes to the development of business tourism in Latvia.

Latvia offers and professionally organises business tourism or MICE segment services for clients of various sizes and financial capacities. Business tourism is an important component of the Latvian economy, contributing to the country’s competitiveness and economic growth. Economic indicators in several tourism segments reflect the positive development trends of business tourism in Latvia.

An increasing number of business tourists

LIAA indicates that in 2024, 35 foreign tour operator visits were recorded in the leisure and MICE segment with more than 350 participants, while emphasising that the majority of business tourists plan their trips independently. The main types of business tourism in Latvia include international conferences and seminars, business and trade exhibitions, training and educational programmes, as well as corporate events and international sports competitions. According to ICAA business tourism analysis data on the most popular business meeting locations, Latvia experienced a slight increase in 2023 compared to the previous year. Ranked 31^st among European countries in 2022, Latvia was in 30^th place last year. The World Economic Forum’s Travel and Tourism Development Index, which includes 117 economies in its analysis and measures a set of factors and policies that ensure sustainable and resilient travel and tourism sectors as well as national development, ranks Latvia in 48^th place.

Goals of the business tourism sector

Traditionally, the active tourism season in Latvia lasts from May to September, however, business tourism allows companies in the sector to increase demand outside the season, provide work for staff throughout the year and improve overall financial turnover indicators. The Latvian Tourism Development Plan for 2021-2027 is aimed at promoting the tourism sector and identifies priority tourism products with high added value, not only in health, cultural and nature tourism, but also with respect to business tourism. Priority foreign markets have also been outlined, excluding Russia and Belarus, but selective activities are planned in Ukraine as long as the situation on the ground allows. In accordance with the Latvian Tourism Development Plan, European countries such as Germany, Finland, Sweden, Norway, Great Britain and Poland have been highlighted as priorities.

Safety and service quality standards in Latvia

Global Finance Magazine ranked Latvia 39^th on the list of the safest countries in the world (3). Undeniably, Latvia offers a safe environment for foreign tourists, and state institutions are actively working to ensure the safety and comfort of travellers. Latvia has developed national standards for all categories of tourist accommodation, including tourist information centres, tourist buses and restaurants. These standards set requirements for the quality of services, safety and infrastructure. Latvia pays a lot of attention to tourism safety standards to ensure a safe and enjoyable experience for guests. These standards are implemented in compliance with both national legislation and international requirements.

Sources: