Provisional estimates indicate that the organisation of the World Ice Hockey Championship in Riga has brought Latvia’s economy an additional EUR 44 million, according to Riga City Council External Communications Office.
Last week one of the biggest events of the year in Riga had ended – the International Ice Hockey Championship 2023.
Latvia’s team winning bronze at the championship made it a truly historic event for the entire country.
Estimates indicate that Latvian Hockey Federation’s (LHF) and Riga City Council’s (RD) organised welcome party at the Freedom Monument for Latvian hockey players returning to the country gathered more than 40 000 people.
The city council’s representatives say the championship helped bring financial support to Latvia’s capital city. The main goal was bringing the life back to the country after the pandemic years, as well as support local tourism and accommodation businesses.
Mayor of Riga Mārtiņš Staķis explains the municipality’s decision to actively support the championship was definitely correct.
“In two weeks local and foreign fans were given a real celebration of hockey. Championship matches in Riga were attended by more than 30 000 foreign guests. These people came to the arena and local cafes and bars. With additional co-financing it was possible to further support the championship. We also made sure the amount invested into the championship was returned to Riga’s budget. The first estimates indicate we have accomplished exactly that,” said the mayor.
The World Ice Hockey Championship 2023 was also attended by more than 150 foreign media representatives. Matches were broadcasted to more than 70 countries.
Events of this kind of scale should be viewed from more than just financial benefit for businesses. There is also promotion of Riga’s and Latvia’s recognition, which is measured in several dozen million euros.
“We concluded the World Ice Hockey Championship 2023 with heightened emotions. From the bottom of my heart, I want to thank all participants, sponsors, the International Ice Hockey Federation (IIHF) and other partners. Together we managed to organise an unforgettable celebration in Latvia’s capital city. I am certain this world championship will remain in our collective memory for a very long time. I would also like to thank our national ice hockey team – Dream Team 2023,” said IIHF World Ice Hockey Championship 2023 organiser in Riga Edgars Buncis.
Among the 30 000 foreign hockey fans, most came from Switzerland, Czechia and Slovakia.
Though the A-Group matches were held in Tampere, Finland, several hundred Finnish fans did come to enjoy the championship’s atmosphere in Riga.
Switzerland’s ambassador to Latvia Martin Michelet said that, based on information available to the embassy, the Switzerland – Canada match was attended by 8 000 fans from Switzerland.
The ones who benefited the most from the championship in Riga were the local bars and entertainment venues. Their turnover grew by 30 – 50% during the championship, says the chairman of Association of Latvian Bars Oskars Ikstens.
The championship, the start of the tourism season and other major events that took place in Riga in May, such as the Rimi Marathon, helped improve the situation for hotels as well.
Provisional data indicates that hotels in Riga saw 50% more visitors in May when compared with April. Data also indicates hotels have reached their pre-pandemic levels.
Also read: Germany closes 4 out of 5 Russian consulates