International Internet Magazine. Baltic States news & analytics
Friday, 24.05.2013, 21:49
The number of visitors in hotels and other accommodation establishments1 in the 1st quarter of the year 2013 in Latvia comprised 301.3 thousand people. That is 5.9% more than in the 1st quarter of 2012.
Keyword tags: Analytics, Baltic States – CIS, EU – Baltic States, Good for Business, Latvia, LIVE RIGA, Tourism
The most appealing business environment in the Baltic countries is in Estonia, the most problematic – in Lithuania, according to the study "Business Culture and Values in the Baltic States" carried out by the Center for Sustainable Business at the Stockholm School of Economics in Riga, informs LETA/Nozare.lv.
According to Statistics Estonia, in the 1st quarter of 2013, the average monthly gross wages and salaries were 900 euros and the average hourly gross wages and salaries were 5.63 euros. Compared to the 1st quarter of the previous year, the average monthly gross wages and salaries grew 6.3% and the average hourly gross wages and salaries 9.1%.
According to the provisional data of Statistics Lithuania, in I quarter 2013, accommodation establishments accommodated by 5.6% more guests than in the same quarter of 2012, and received 344.9 thousand tourists.
Latvia is convincingly meeting the euro convergence criteria, therefore positive convergence reports are expected from the European Commission and the European Central Bank (ECB) at the beginning of June regarding Latvia's compliance with the eurozone accession criteria. At the same time, Latvia is likely to receive several recommendations, informs LETA.
Power utility Latvenergo and brewery Aldaris have received the highest assessment in the 2013 Sustainability Index, informs LETA/Nozare.lv.
The prices rising less and increased wages allow for forecasts of growth in domestic demand, which in the nearest future will be an important factor of economic expansion, as is projected by the Bank of Lithuania, reports LETA/ELTA.
Yesterday, President Andris Berzins met with representatives from the Foreign Investors' Council in Latvia (FICIL) to become familiar with their vision on stable and sustainable economic growth, and to discuss potential improvement in rule of law, judicial system efficiency, fair competition and investment protection, LETA was informed by the Presidential Press Service.
Compared to March, the overall level of producer prices in Latvian industry in April 2013 increased by 0.1%, according to the data of Central Statistical Bureau of Latvia. Compared to April of previous year, the producer prices in Latvian industry grew by 1.4%.
The government should not hesitate with reducing the tax burden in the country because this may affect the situation on the labor market and contribute to the continuing emigration, which in turn will impact Latvia's competitiveness on the European Union market, businessmen told the Nozare.lv business portal, cites LETA.
Economy Minister Daniels Pavluts allows for the possibility of bringing in from abroad qualified workers for certain sectors in Latvia in the future, informs LETA/Nozare.lv.
Residents actively using cash pay-in ATMs is proof that the share of the shadow economy has not lessened and the amount of gray money remains considerable in Latvia, Latvian Free Trade Unions' Association Chairman Peteris Krigers points out in an interview with the newspaper Diena, reports LETA.
According to a study carried out by the Baltic automobile ad web-site Autoplius, Estonia has the highest proportion of automobiles in the Baltics – 0.51 automobiles per person, Lithuania on average has 0.40 automobiles per person, while Latvia has 0.33 automobiles per person, or approximately one automobile per every three persons, informs LETA/Nozare.lv.
According to the data of 2012, in Estonian emigration the movement takes place towards the countries offering bigger economic welfare. People emigrate from Estonia mainly to Finland and the United Kingdom and people immigrate to Estonia from Finland and Russia.
The information about state administration institutions' reckless spending on various purchases and the organization of office parties and other entertainment events by state institutions last year shows lack of respect for taxpayers, believes State Chancellery's Director Elita Dreimane.