Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 17.2006

Thursday, the 27th of April, 2006

Latvia has the lowest place in the top
Economist Intelligence Unit published its annual Internet use rating. According to it, Latvia’s rating decreased. It is on 39th place, while last year the country was on 37th place. Estonia occupies 27th place in the list, and Lithuania 38th.

International Currency Foundation, in 2006 Latvia remains one of the leaders in GDP growth.
The country could occupy 9th place among 180 countries according to this index which amounted to 10.2% in 2005 and 9% in 2006. The first place belongs to Azerbaijan, 24.3% and 26.2% respectively, and the second to Angola, 15.7% and 26%. As for Europe, three Baltic States are the absolute leaders in GDP growth.

Tuesday, the 25th of April, 2006

Innovations and beginners in business to receive support
27.19% or EUR 718.2 million of the whole sum Latvia should receive from the EU structural funds in 2007-2013 will be directed to the competitiveness increase and support for knowledge-based economy. The biggest sum, EUR 238.07 million, is stipulated for science and research support. The guidelines for the projects development will be ready in the nearest months, as well as money distribution regulations.

Monday, the 24th of April, 2006

The international hotel chains want to rely on the local investors
On April 21, Jean-Paul Herzog, the president of Hilton Scandic in Northern countries and the Baltic states, visited Riga. Herzog says that the company has always been interested in Riga and currently is looking for suitable partners. Herzog points out that the large hotel chains do not invest in new projects; they work as managers or operators instead. Herzog believes that explains why the large hotel chains have been so reluctant to open hotels in Riga; chains like Marriott, Inter-Continental and Kempinski have all showed interest, but none of them have opened any hotels yet. Herzog believes that Riga airport neighbourhood could be an interesting place for a hotel, as a business park is planned around it.

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