Latvia is often framed as a leisure destination (Art Nouveau Riga, Baltic coastline, small-city charm). But the newest numbers suggest another narrative is strengthening fast: investment-led business travel.
Reklāma
When foreign capital rises, it doesn’t just show up in balance sheets. It shows up in airport flows, hotel midweek occupancy, venue calendars, site visits, supplier meetings, recruitment trips, and “extended stay” business travel. For Latvia’s travel industry, that’s a big deal—because business travel typically spends more per day, is less seasonal, and fuels MICE (meetings, incentives, conferences, exhibitions).
The headline figures that matter for travel
Recent reporting in Latvia points to a clear uptick in investment activity:
- Foreign investors have put more than €12.5 billion into Latvia, and the latest changes were positive by more than €283 million in additional investment.
- The number of joint ventures increased by more than 360, described as a “trust indicator” for the economy.
- Business formation remains active: more than 10,000 new companies were registered (up 11%), while nearly 8,000 were liquidated in the same period.
On top of that, Latvia’s investment agency (LIAA) reported that 31 investment projects were launched in 2025, with a total value of €1.01 billion and 1,350 new jobs expected.
For travel professionals, these aren’t abstract numbers. They are early indicators of more:
- corporate delegations and management travel;
- technical visits (engineering, compliance, auditing);
- supplier and partner travel;
- relocation and recruitment trips;
- conference bids and event demand.
Riga Airport: stable volumes, real business signals
Air connectivity and passenger stability are the backbone of any business-travel rebound. Riga Airport reported that 2025 passenger volume slightly exceeded 7.1 million, roughly matching the previous year, while cargo volumes grew by 7%.
Even more interesting is the passenger structure:
- 5.7 million were direct travelers starting their journey in Riga
- 1.4 million (around 20%) used Riga as a transfer point
That transfer share matters because it makes Riga not only a destination but a regional connector, which is attractive for international companies that need efficient routing for teams moving across Northern Europe.
Latvia is explicitly pushing “business tourism”
Latvia isn’t treating business tourism as a side quest. Official messaging has been clear: business tourism is seen as a growth lever.
A government business portal notes that 1.6 million foreign guests were accommodated in Latvian hotels in 2024 (a 14% increase year-on-year), and it adds that Riga accounts for about 75% of foreign visitors—with business tourism forming a major part of that flow.
This supports the practical reality many hoteliers and DMCs already feel: Riga is where midweek demand and repeat corporate travel is most visible—and where MICE capacity upgrades can move the needle fastest.
Why this matters for Travelnews.lv readers: the “business travel multiplier”
Investment-led travel behaves differently from pure leisure demand:
1) It fills the calendar outside peak leisure months
Corporate travel often rises in:
- late winter / spring (February–May)
- early autumn (September–November)
That means steadier hotel demand, smoother staffing, and more reliable revenue planning.
2) It creates “long-stay” travel patterns
New projects and joint ventures bring:
- consultants on 2–6 week rotations
- technical specialists and trainers
- cross-border managers “commuting” to Latvia
This boosts demand for:
- serviced apartments
- aparthotels
- hotels with kitchens / laundry options
- coworking-friendly lobbies and meeting rooms
3) It grows MICE demand in a practical way
Joint ventures and investment projects generate:
- board meetings and strategic offsites
- supplier summits
- product launches
- training sessions
- recruitment events
The MICE ecosystem depends on these recurring, business-driven events—not just one-off mega conferences.
Where Latvia might feel the travel impact first
Riga stays the main hub
With the majority of international arrivals concentrated in Riga, the capital remains the biggest “immediate winner” for corporate travel and events.
Regional spillover is real - but needs packaging
Investment projects are often tied to manufacturing, energy, logistics, and tech-related facilities (LIAA explicitly highlighted sectors like bioeconomy, smart energy, high-value manufacturing, ICT).
That kind of activity often sits outside city centers, which creates opportunities for:
- regional airports and ground transport providers
- business-friendly hotels outside Riga
- DMCs offering “site visit + cultural add-on” programs
- incentive trips that mix factory tours with Baltic nature and spa recovery
For regions, the win is easiest when the offer is simple and turnkey:
- fast transfers
- English-speaking support
- reliable invoicing
- flexible cancellation terms
- meeting space + catering bundled clearly
A quick “what to do now” checklist for travel businesses
If you sell Latvia—whether you’re a hotel, DMC, airline partner, or venue—this is the moment to sharpen the corporate offer:
Hotels / aparthotels
- Build 2–4 night “midweek corporate” packages (meeting room + breakfast + late checkout)
- Add long-stay rates and make them easy to book
- Market services that matter to business guests: workspace, early breakfast, laundry, quiet floors
DMCs
- Create “site visit” programs with realistic schedules (not just sightseeing)
- Offer ready-to-book corporate evening experiences (short, high-quality, low risk)
- Make invoicing and VAT info crystal-clear for international companies
Venues / MICE
- Standardize offer sheets (capacity, tech specs, pricing) and respond fast
- Provide hybrid-friendly setups (streaming, translation options)
- Build partnerships with nearby hotels for bundled proposals
Transport
- Emphasize reliability: fixed fares, corporate accounts, receipts, and English support
- Make Riga-to-region transfers frictionless (the “last mile” is where corporate travel complains)
A note for investors and international founders traveling to Latvia
A lot of business travel starts with one practical step: company formation in Latvia to contract, invoice, hire, or open accounts. That’s where a service like latviacompanies.com typically fits in—helping foreign founders register and structure a Latvian company cleanly so the travel turns into real operations (not just exploratory visits).
Bottom line
Latvia’s 2026 travel outlook isn’t only about city breaks and summer weekends. The latest investment and business formation figures point to a stronger story in corporate travel and MICE, with Riga as the clear hub and growing chances for regional spillover.
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