Key Market Indicators
The Latvian passenger ship fleet is projected to expand to approximately 1,080 units by 2028, up from around 1,060 units in 2023. This marks an average annual growth rate of 0.3%. Since 2009, however, Latvia's passenger ship supply has experienced an average yearly decline of 2.7%. In 2023, Latvia ranked 10th globally in terms of fleet size, with Portugal surpassing it at 1,060 units. Leading the rankings are Spain, Greece, and Italy, which hold the second, third, and fourth positions, respectively.
