IATA: Aviation Has Significant Footprint in Latvian Economy
2012 05 10
- Details
Riga. According to a recently published study commissioned by IATA, the International Air Transport Association, the aviation industry plays a key role in Latvia‘s trade and economy. According to the study, undertaken by Oxford Economics, aviation accounts for 2.0 percent of Latvia‘s GDP, and the industry supports jobs for 2.0 percent of workforce in the country.
”A productive and efficient aviation industry plays a pivotal role in driving development of today’s global economy through critical connections for both passengers and air freight. Latvia has a medium high measure of connectivity by air relative to its economic size. It could therefore increase its economic growth and Foreign Direct Investment by improving its air connectivity with positive economic measures towards aviation” said Rafael Schvartzman, IATA Vice President Europe.
Due to the geographical location of Latvia, air transport is of considerable importance to Latvian export companies in terms of enabling connections and also in offering air cargo transport. Aviation is also a key enabler of tourism to Latvia, and approximately 30 per cent of foreign visitors arrive to the country by air. Aviation industry supports jobs for 2.0 percent of the workforce in the country, or 18 600 jobs.
In year 2011, the total number of air passengers arriving or departing from Latvia was 5.1 million, some 10% up compared to a year earlier.
Source IATA
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