Wednesday, October 29, 2014

Russian news: More Sanctions Backfire: European Tourism Bruised as Russians Stay Away - Russia Insider

Anti-Russian sanctions have backfired on the Old World’s tourist industry.

Far fewer Russians go to Europe on holiday these days. On some destinations, tourist flow has slumped between 20% and 50% against 2013. Experts see two reasons for this: reluctance to put up with outbreaks of Russophobic sentiment and the ruble’s slump against the euro.

Europeans are ringing the alarm. Dwindling tourist flows from Russia is a heavy blow to Western economies because Russians have firmly held the leading place in the EU’s tourist industry for the past few years.

In 2014, anti-Russian sanctions by the EU prompted Russian holiday-makers to set their eyes on Turkey and Egypt while Europe suffered a “catastrophic setback,” says spokeswoman for the Russian Tourist Industry Union Irina Tyurina. In a bid to lure back Russian vacationers, European tour operators have had to resort to unprecedented dumping offers.

According to the European Tour Operators Association (ETOA), Britain’s tour industry will lose about £50 million (about $50 million) in 2014. Finland, which last year was in the top 10 countries most popular with Russian tourists, this year has slumped to the 13th place.

Complete story at - Russian news: More Sanctions Backfire: European Tourism Bruised as Russians Stay Away - Russia Insider

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