Estonia, Latvia & Lithuania Tourism Report 2016
BMI View: We continue to hold a broadly positive outlook for the Baltic countries' tourism sectors in 2016and beyond. While these markets will continue to suffer the effects of political and economic turmoil inRussia and Ukraine, this will not prevent further robust growth in tourist arrivals. We expect growth to besupported by increased intra-Baltic and wider European tourism on the back of improving economicconditions across the continent. Of the three Baltic countries, we maintain our view that Latvia and Estoniawill see the strongest arrivals growth over the next few years, averaging around 5-6% annually.
Key Updates & Forecasts
The Baltic region's tourism sector will continue to grow at a healthy rate in 2016 with visitor arrivals inEstonia, Latvia and Lithuania set to increase by 7%, 6% and 3% respectively, according to our forecasts.
The sector's positive growth prospects are predicated on increased intra-Baltic tourism as well as a risingnumber of visitors from the wider EU. This trend is being driven by improving economic conditionsacross the region and a brightening outlook for European consumers in particular. Importantly, thesepositive dynamics will help offset some of the negative consequences wrought on the sector by ongoingRussia/Ukraine tensions.
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