In news from St. Petersburg, apparently another tour operator is going belly up. Atlas, another of Russia’s leading tour companies is expected to go insolvent, suspending operations and perhaps stranding still more Russian tourists abroad.
Russia sanctions
Europe Tourism Being Body Slammed Over Ukraine
The negative domino effects from the unrest in Ukraine are being felt all over Europe. In Slovenia hotels are reporting a 20% drop in numbers of Russian tourists already. This dramatic number, from Euronews, represents fully 6% of tourists to that country. But Slovenia is not the only European country being slammed.
EU Sanctions On Russia Provoke Airline Economics War
This morning business daily Vedomosti has reported, Russia may begin restricting European airlines from flying over Siberia on Asian routes. The move, if enacted, would imposed crippling costs on some European carriers. To make matters worse, the underlying business infrastructure of all countries will certainly be negatively affected.
Weight of Ukraine Unrest, Sanctions, Threaten EU Economies
The Ukraine unrest unfolding, US and NATO versus Russia challenges and sanctions, threaten to unravel any hope of continued EU economic recovery. This, according to an ITAR-TASS report, must be weighed against European Commission contentions. Whatever the case for western EU nations, tourism and other sectors in eastern Europe will certainly be stifled.