Author: airBaltic.com
Source: airBaltic.com
Riga. According to a recent report by the International Air Transport Association (IATA) called The Value of Air Transport to Latvia, aviation sector significantly boosts Latvia’s economy, employment, and tourism. Within this ecosystem, airBaltic – Latvia’s national airline – stands out as a key driver of these gains, translating broad industry-wide findings into tangible national growth.
Air connectivity is essential for driving a nation’s economic growth, and as Latvia’s national airline, airBaltic plays a pivotal role in this process. airBaltic ensures critical connectivity, delivers essential cargo services, and enables virtually all aspects of air transport’s value. This year alone, the airline has transported nearly five million passengers and aims to double in size by 2030 – further strengthening its impact on the region’s GDP and overall economic strength.
Reklāma
Economic Contributions
The aviation sector in Latvia, with airBaltic at its forefront of it, directly employs approximately 8600 individuals, generating an economic output of USD 452.3 million, which accounts for 1.0% of the country's GDP. When considering the broader impact – including supply chain activities, employee spending, and aviation-facilitated tourism – the total contribution rises to USD 1.9 billion, supporting 36 600 jobs and representing 4.4% of Latvia's GDP.
Tourism Enhancement
airBaltic's extensive network has been instrumental in boosting Latvia's tourism industry. International visitors arriving by air contribute USD 1.4 billion annually to the local economy through their expenditures on goods and services. This influx supports 11 000 jobs and adds USD 457.9 million to the nation's GDP.
Trade and Connectivity
In 2023, Latvia handled 19 200 tonnes of air cargo, underscoring the sector's role in facilitating trade and investment. airBaltic's operations have been crucial in connecting Latvia to global markets, enhancing the country's position in international trade.
Social Impact
Beyond economic metrics, airBaltic contributes to social well-being by improving access to education, connecting families, and fostering cultural exchanges. The airline's efforts have also made air travel more accessible – between 2011 and 2023, the average airfare in Latvia decreased by 36%, reducing the number of workdays needed to afford a ticket to 1.8 days.
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