Creditinfo Lietuva: almost 100 tourism companies operated at a loss last year

Creditinfo Lietuva: almost 100 tourism companies operated at a loss last year
Creditinfo Lietuva: almost 100 tourism companies operated at a loss last year

photo of Vladimir Ivanovs (VŽ).

Travel agency revenue in 2021 compared to 2020 increased almost twice, but compared to pre-pandemic 2019, they fell three times, according to the credit bureau “Creditinfo Lietuva”.

in 2021 the travel agencies that declared their income together earned more than 171 million Eur – almost twice (82%) more than in the pandemic years of 2020. (about EUR 94 million).

However, a real recovery for travel agencies is still far away, for example in 2019. their income was almost 474 million. Eur, and fell more than five times during the pandemic.

According to the 2021 revenues in the top ten are “Novaturas” (109 million EUR), “Tez Tour” (about 60 million EUR), “Itaka Lietuva” (12.5 million EUR), “Coral Travel Lithuania” (9.5 million EUR), “Kidy Tour” (EUR 8.9 million).

Estravel Vilnius (6.3 million EUR), “Vestekspress” (4 million EUR), “Traveldeals LT” (4 million EUR), “Glotera” (3.6 million EUR) and “ZIP” followed. Travel” (2.9 million EUR).

“Novaturas” is also in the top ten of travel agencies that earned the biggest profit, with a profit of EUR 909,000.

It was followed by “Baltic Tours Group” (633,000 EUR), “Vestekspress” (530,000 EUR), “Glotera” (336,000 EUR), “Traveldeals LT” (307,000 EUR), “Baltic Clipper” (288,000 EUR), “Baltic Travel Service” (EUR 271,000), TEZ Tour (EUR 215,000), Estravel Vilnius (EUR 158,000), Riviera Tours (EUR 148,000) and ZIP Travel (EUR 123,000).

According to Creditinfo Lietuvos data, almost 100 tourism companies operated at a loss last year. As travel flows became more active, the number of debts and their average size grew.

There are currently 783 tour operators operating in Lithuania (776 in 2019, and 787 in 2021), their employees have decreased by almost a quarter in three years – from 2,400 to 1,850.

According to “Creditinfo Lietuva”, from 2022 five went bankrupt in 2021 – three, 2019 – four travel agencies. in 2020 none went bankrupt.

In January of this year, 9% of companies belonged to the highest and highest classes of bankruptcy (12% a year ago). According to late payments, 17% of companies (21%) belong to these classes.

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The article is in Lithuanian

Tags: Creditinfo Lietuva tourism companies operated loss year

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