Latvian aviation sector achieves almost 2% of GDP

This result has been derived from the survey conducted by the international management consulting and auditors firm Ernst & Young on the influence of the aviation sector on the economy of Latvia. In 2006 and 2007 aviation achieved growth both in its share of GDP and its direct and indirect contribution to the tourism industry.

Direct impact of aviation on the tourism industry is manifested in the spending of foreign tourists in Latvia while indirect impact is seen in additional economic activity triggered by the money spent in the country by foreign tourists.

The Ernst & Young survey shows that in 2007 the direct impact of aviation sector on tourism reached 134 million lats while in 2006 it had been within 97 million lats.

Similarly, in the first two quarters of 2008 according to the estimates of Ernst & Young the role of aviation had retained the level achieved in 2007.

The volume created by aviation and its direct and indirect impact on the country’s GDP in 2006 was 1.8% or 202 million lats, and in 2007 it was 1.95% or 272 million lats.

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