Russia Travel & Tourism Industry Examined by Euromonitor in Topical Report Available at MarketPublishers.com
13 Jan 2015 • by Natalie Aster
LONDON – Russia’s economic downturn is forecast to significantly impact the national tourism development in the oncoming years. In the summer of 2014, the country’s tourism industry was badly beaten by a range of serious business failures of local tour operators. The majority of companies were not capable of settling their affairs with honour. Over 10,000 tourists were left in humble circumstances in overseas destinations, which led to a lack of consumer confidence in the activities of tour operators. This, alongside consumers’ decreasing disposable income levels, caused a collapse in the Russian travel and tourism sector.
Meantime, online travel retail sales were among the key drivers in 2013. Rising levels of internet and mobile internet penetration, better awareness of consumers and a surging number of online travel agencies across Russia greatly impacted the development of the category. Furthermore, technologies have altered not only the method of purchase, but also the entire consumer experience.
In the long run, Russia’s tourism and travel industry is still projected to show positive performance, with inbound, outbound and domestic tourism likely to increase over the next four years. Russia has held a series of important global events, such as the Winter Olympic Games in Sochi, which contributed to sprucing up the image of the country as a destination for traveling in the worldwide arena and also to enhancing tourism infrastructure.
Topical study “Travel and Tourism in Russia” elaborated by Euromonitor International draws up a comprehensive analysis of the Russian travel and tourism marketplace.
The research report discloses essential data (2009-2013) on the market sizing and shape, highlights the industry’s historical development and current standing. It identifies the most lucrative and fast growing sectors in the market, identifies and analyses key market restraints and drivers, canvasses the regulative landscape, delves into the essential industry issues including technology and pricing. A brief review of disposable incomes, annual holidays, and Russians’ habits of making holidays is included. The report examines the level of competition in the sector and dominant market participants. Additionally, the study contains detailed forecasts of the market’s development to 2018.
Travel and Tourism in Russia
Published: December, 2014
Price: US$ 1,900.00
More topical market research reports by the publisher can be found at Euromonitor International page.