COVID-19: Russian Travel Industry Might Lose RUB 37bn

26 March 2020 (09:26)

UrBC, Moscow, March 26, 2020. The Russian tourism industry might lose RUB 37 billion this year because of all the travel bans, Executive Director at the Association of Tour Operators of Russia Maya Lomidze said at a press conference in Moscow.

According to Lomidze, this could be the case if the travel ban stays in place through September 2020. This would mean, according to Lomidze’s estimates, that outbound travel segment would lost RUB 25 billion and the inbound one RUB 12 billion.

Now at the end of February 2020, the Association of Tour Operators of Russia asked Russian Prime Minister Mikhail Mishustin to help make up for the travel agents’ losses brought about by the COVID-19 pandemic. The losses were estimated at RUB 450 million at the time.

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