In 2018 the spending of foreign tourists in Russia will grow by 7%
The total spending of foreign tourists for trips to Russia in 2018 will grow by 7%, and in Moscow it will grow by 9.6% per year in the next decade. These are some of the results of a recent study of the World Tourism and Travel Council (WTTC).
So, in 2017, according to WTTC, there were 3,3 million people in "tourism and travel" sector of Russia (4.5% of the total number of employees in Russia). It is expected that by 2028 3,8 million people will be connected with this sector of economy.
In 2017 the tourism and travel sector in Russia grew by 3.2%, according to WTTC analysts, and this is above the average for the Russian economy: by comparison, other sectors of the Russian economy in 2017 showed an average growth of 2.2%. Tourism, according to WTTC, generates 4.8% of Russia's GDP - $ 76 billion.
The joint forecast of WTTC and Oxford Economics says, in particular, that revenues from travel and tourism in Moscow will grow by 6.6% per year until 2026. At the same time, the expenses of foreign tourists will increase by an average 9.6% per year during the next decade.
Digest, This article is written or translated by Russian Travel Digest’s News Team. Every day we search for the most important news on the Russian tourism and travel market to keep you updated.