MarketResearch.com has just released its Russia Tourism Report for the first quarter of 2013, an extremely useful tool for local and international tourism players that are interested in this particular travel market. The report focuses on long-term prospects for Russia’s tourism industry, while highlighting the short-term impact of the economic slowdown of key source markets.
MarketResearch.com has a positive take on the first quarter of next year, predicting that the spike in visitor growth which has debuted in 2011 and has persisted, although at a slower rate this year, will continue on an upward trend in 2013, with key markets such as Finland, Germany, France, Italy, Poland and China fueling it.
To come up with their predictions, MarketResearch.com analyzed the number of foreign visitors to Russia, which dropped significantly in 2009, after years of moderate growth, to then pick up again in 2011. The tourism segment will also be powered by Russian citizens booking trips abroad, their number having been on a steady upward trend in the last few years.
The factors deemed most likely to affect Russian tourism negatively in Q1 of 2013 are the threat of terrorism and growing concerns over Russian flight safety standards. The most opportunity-rich segments of the tourism industry will be the midmarket accommodation sector, along with infrastructure development and low cost airlines.
The rouble, Russia’s currency, is also expected to become stronger in 2013, along with the country’s GDP, which is expected to have a moderate growth which will gain momentum later in 2013. For more details and paid access to the report, please visit this page.