Latvia in the Eurovision Choir of the Year going to develop a new show to join the existing Eurovision Family of Events. The event was officially confirmed on 30 November 2016, with Latvia chosen to host the inaugural event scheduled to take place on 22 July 2017. On 14 February 2017, it was confirmed that the inaugural contest would take place at the Arena Riga, located in the Latvian capital. The arena is primarily used for ice hockey, basketball and concerts. Riga Arena holds a maximum of 14,500 and was completed in 2006. It was built to be used as one of the venues for the 2006 IIHF
History of Latvia to capital investment projects. Around 15% of income was generated by state spirits monopoly. The restoration of industry was more complicated. Before World War I 80% of industrial production was made for internal Russian Empire markets. Trade agreement with Soviet Union was signed in 1927 but did not result in high trade volumes. By the end of 1920s Latvia's largest export markets were Germany (35,6%), United Kingdom (20,8%), France, Belgium, Netherlands (22,9%). Latvia had to import almost all of modern machinery and fuels. In 1929 Latvia had 3 state owned banks, 19 private banks, 605 credit unions and many more