Williamstown, MA -- (SBWIRE) -- 04/30/2012 -- According to the United Nations World Tourism Organization (UNWTO), Russia ranked ninth in terms of the total number of inbound tourist arrivals in Europe in 2010. Travel and tourism in Russia contributed 1.3% to the national GDP and 1.5% of the country's total employment in 2011. Tourist volume in Russia increased from 152.88 million in 2007 to 170.65 million in 2011, at a compound annual growth rate (CAGR) of 2.79% during the review period (2007-2011). The growth in tourist volume could be attributed to factors such as the country's strong economy, rising disposable income levels and government initiatives to promote the country as an attractive tourist destination. Tourist volume in Russia is expected to reach 207.20 million in 2016, after growing at a CAGR of 3.96% over the forecast period. Russia has the potential to become one of the global leading travel and tourism economies over the next decade. Despite the current slowdown in growth trends, Russia's travel and tourism industry has positive long-term prospects. Over the forecast period, travel and tourism will continue to grow in importance.
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- The outlook for travel and tourism in Russia is positive due to the country's growing economy and government initiatives to promote the country as an attractive tourist destination.
- The Russian government aims to deploy sustainable marketing resources to present the country as a high quality and safe tourist destination.
- Short holidays are becoming more popular in Russia as affluent people prefer short breaks due to their busy working lifestyles.
- The number of small private hotels and recreation centers is increasing in rural areas, especially in areas close to major cities such as Moscow, Saint Petersburg and Sochi.
This report provides an extensive analysis of the travel and tourism market in Russia:
- It details historical values for the Russian travel and tourism industry for 2007-2011, along with forecast figures for 2012-2016
- It provides top-level analysis of the overall travel and tourism market, as well as individual category values for both the 2007-2011 review period and the 2012-2016 forecast period
- The report makes a detailed analysis and projection of tourist spending in Russia
- The report profiles the top travel and tourism companies in Russia
Reasons to Get this Report
- Take strategic business decisions using top-level historic and forecast market data related to the Russian travel and tourism industry and each sector within it
- Understand the demand and supply-side dynamics within the Russian travel and tourism industry, along with key market trends and growth opportunities
- Assess the competitive landscape in the travel and tourism market in Russia and formulate effective market-entry strategies
Companies Mentioned in this Report: Aeroflot OAO, UTair Aviakompaniya OAO, Sixt Russia, Rossiiskie Zheleznye Dorogi OAO, Murmansk Shipping Company, Trans Russia Express, Swissotel Krasnye Holmy, Red Star Hotel, TUI Russia & CIS
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