Lithuania Tourism Report Q2 2018
Lithuania's tourism industry will grow steadily over the coming five years, as the number of tourists arriving in thecountry continues to grow steadily around 5% a year. Beyond simply growth in the number or tourists arriving, the country willcontinue to transition into higher value tourism, with a focus on niche areas of the accommodation and tourism market that cancommand higher prices. This will also help spread tourists and the economic boost they bring beyond the country's two main citiesto coastal areas and more remote areas of natural beauty. However, the country still has a long way to go in developing its marketbeyond the already well served luxury accommodation and business sectors, and for the time being we forecast tourism receipts inUS dollar terms to grow at a lower rate than will total arrivals figures. Geopolitical tensions between Russia and the West has hurt thecountry's tourism industry and slowed growth. An unforeseen let-up in tensions would pose an upside risk to our forecasts;however, we expect tensions to remain heightened, gradually pushing Latvia's tourism market towards a more Western orientationas Russian tourism spending declines.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook