Russia Tourism Market 2017- Revenue, Price and Gross Margin Research Report 2021

SUMMARY

WiseGuyReports published new report, titled “Source Market Insights: Russia”

"Source Market Insights: Russia", provides a thorough insight into Russia’s outbound tourism industry. The report shades light into the different profiles of Russian tourists and summarizes the key reasons why Russians travel. The report offers an in-depth analysis of traveler flows, spending patterns, main destination markets and current and future opportunities for tourism businesses interested in Russian travelers.

Russian outbound trips have been falling for four consecutive years since 2014, following political turbulence with Ukraine. Russia’s annexation of Crimea resulted in the imposition of sanctions by Western countries, pushing the country into a deep recession[1]. The adverse macroeconomic environment gave rise to protracted consumer uncertainty, causing the number of Russians traveling abroad to plummet[2]. Yet, this negative trend has been slowing down and from 2018 onwards, outbound tourism is expected to recover. Whereas outbound tourism declined substantially, domestic trips experienced a substantial boost, as they represented a more affordable alternative.

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Russian tourists travel for very different reasons.

Yet the following four categories summarize the major motives that would prompt a Russian to book a holiday.
Sun & Beach
Visiting friends and relatives (VFR)
City breaks
Hyper-luxurious holidays

Who are Russian tourists?

The young professional
Families with children
The middle-age professional
The ultra-wealthy
The silent generation

The decline in the Russian outbound travel market is slowing down, with international trips expected to rebound soon

Russian outbound trips have been falling for four consecutive years since 2014, following political turbulence with Ukraine. Russia’s annexation of Crimea resulted in the imposition of sanctions by Western countries, pushing the country into a deep recession. The adverse macroeconomic environment gave rise to protracted consumer uncertainty, causing the number of Russians traveling abroad to plummet. In 2016, Russians made 31.7 million outbound trips; a decline from 34.4 million trips made in 2015. Yet, this negative trend has been slowing down and from 2018 onwards, outbound tourism is expected to recover, growing steadily at a CAGR of 1.5% for the period 2016-2021. Whereas outbound tourism declined substantially, domestic trips experienced a substantial boost, as they represented a more affordable alternative.

Traditionally, Egypt and Turkey have been among the top destinations in the list for Russian tourists. The suspension of flights to these countries in 2015 – as a result of a terrorist incident in the former, and the intensification of political relations with the latter – caused the number of Russian passengers on those routes to shrink. Yet, Mediterranean countries such as Greece, Cyprus, Italy and Spain took advantage of the political developments, winning over substantial amounts of tourists. Besides travelling to many post-Soviet countries –predominantly for the purpose of visiting friends and family – China is another key destination attracting a growing number of Russians.

Whereas Russians were mostly traveling for leisure often looking for warm and sunny destinations, Expects visiting friends and relatives (VFR) to be the principal reason for undertaking international trips in 2017, due to the high number of Russians living and working abroad. Besides the much-cherished ‘sun, sea and sand holidays’ across different generations and socio-demographic segments of the Russian population, shopping, sight-seeing, and wellness activities are among the favorites.

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This release was published on openPR.