Macro Focus - 2020: The year we stayed home
2020: The year we stayed home

Tourism below 2012 levels in Baltics, yet fast route to recovery in sight

  • 2020 was ruinous for tourism, with millions around the world in lockdown
  • The blow in the Baltics was softened by local tourism 
  • Vaccination seems to clear the route to recovery in the second half of this year

The Baltic tourism sector suffered EUR 2.5 bn loss of foreign tourists’ expenditure in 2020 as the pandemic pushed governments to close borders, halting all but essential travel for long periods of the year.

Stronger-than-expected local tourism softened the drop, yet tourism-related job losses were felt across the Baltics.

PDF-Document Read the full analysis here

 For more information about this report, please contact:

Marianna Rõbinskaja, Economist Estonia, marianna.robinskaja@swedbank.ee

Greta Ilekyte, Economist Lithuania, greta.ilekyte@swedbank.lt

Laura Orleane, Economist Latvia, laura.orleane@swedbank.lv

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