DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/96cd66/estonia_latvia_an) has announced the addition of the "Estonia, Latvia and Lithuania Tourism Report 2012" report to their offering.
2010 was a strong year for the Baltic tourism industry. In all three Baltic countries tourist arrival numbers rose sharply. Latvia welcomed the most tourists overall (5.04mn), with Estonia attracting 4.25mn and Lithuania 4.1mn. These figures incorporate same-day and overnight arrivals.
Looking at trends in 2011, all three countries reported higher hotel occupancy rates over the key summer months, which bodes well for the full-year tourist arrivals figures. BMI forecasts growth in tourist arrivals of 12% for Estonia, 15% for Latvia and 10% for Lithuania in 2011. Looking ahead, it is positive about the outlook for all three countries, with a slight preference for Latvia's potential growth over the next five years.
BMI remains upbeat about the outlook for the Baltic region. Cruise travel is continuing to grow in popularity, with Tallinn's status as a European Capital of Culture bolstering what BMI expects to be a record year for tourism revenues in 2011. Riga will be a Capital of Culture in 2014, so it also expects this to draw in tourists and revenue for the country.
Despite the airline's cash flow concerns, passenger numbers continue to increase, airBaltic carrying 2,661,083 passengers during the first nine months of 2011, an increase of 6% year-on-year (y-o-y). Latvian transport minister Uldis Augulis said he hopes the new management team can return airBaltic to profit by 2013, with the potential reprivatisation of the airline taking place in 2014.
Companies Mentioned:
- airBaltic
- Estonian Air
For more information visit http://www.researchandmarkets.com/research/96cd66/estonia_latvia_an