Factors affecting the performance of accommodation enterprises in Latvia
2015
Muska, A., Latvia Univ. of Agriculture, Jelgava (Latvia). Faculty of Economics and Social Development | Auzina, A., Latvia Univ. of Agriculture, Jelgava (Latvia). Faculty of Economics and Social Development
Tourism, including the accommodation industry, is a significant source of export revenues. The research aim is to examine the factors affecting the performance of accommodation enterprises in Latvia. The research novelty involves the factors affecting the performance of accommodation enterprises, which were identified and analysed employing correlation analysis. In the present research, the authors found that the global economic crisis significantly influenced the accommodation industry’s growth in Latvia, especially in 2009; yet, in 2010 the situation stabilised. In 2011, the accommodation industry started growing. However, the pre-crisis indicators have not yet been reached in this industry, and its growth is moderate. The key factors affecting such indicators of enterprises of the accommodation industry as turnover, value added and net income or losses of businessmen are (1) number of foreign tourists serviced at accommodation establishments in Latvia; (2) number of domestic tourists serviced at accommodation establishments; (3) number of overnight (day and night) stays by foreign tourists in Latvia and (4) number of overnight (day and night) stays by domestic tourists in Latvia. Most of the individuals serviced at Latvia’s tourist accommodations were foreign tourists, the proportion of which at Riga’s tourist accommodations exceeded even 70%. Outside Riga region, more than 70% of the visitors of tourist accommodations were domestic tourists, mainly business tourists. The greatest share of the accommodation industry’s value added and turnover was provided by the regions of Riga and Pieriga. The contribution of the other regions was insignificant.
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