2700 Travel Companies Closed in Russia in Six Months

The tourism market in Russia is rapidly declining. In the first half of the year, about 2700 specialized companies closed, which is 52.3% more than in the same period last year. Citizens are saving on vacations, shortening the duration of their holidays, and opting for budget options. The demand for package tours in Russia has decreased by 22-31%, leading to a mass closure of companies. Hotel bookings have dropped by 12-15% compared to last year. The Kremlin's expectations for an active tourist season in Crimea have not been met. Russian authorities allocated 4.3 billion rubles as subsidies and compensation for workers at 4600 enterprises on the peninsula. Tourism is no longer a priority expense for Russians, with nearly half of the average family's budget spent on food.

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