Russians have spent a record amount of money on foreign holidays this year, with a significant outlay of $5.46 billion in July alone, according to the Central Bank. This marks the highest monthly expenditure on foreign travel since 2018, when the Bank of Russia began releasing monthly foreign trade statistics.
The most popular destination for Russian tourists from May to September was Türkiye, attracting 2.83 million tourists, which accounts for 58% of all travel company sales, as reported by the Association of Tour Operators of Russia (ATOR). Egypt followed as the second most popular destination, with 15% of the market share.
In contrast, domestic tourism in Russia slowed down over the summer, with a mere 1.1% growth in bookings from June to August, compared to a 15.3% increase during the same period in 2024. Ilya Umansky, head of the Russian Union of the Tourism Industry (RST), attributes this trend to a “correction in demand after several years of rapid growth.” The strengthening of the ruble against foreign currencies, high inflation, and an “abnormally cold summer” in central and southern Russia were cited as key factors contributing to this shift.
Meanwhile, Russian tour operators are experiencing a surge in demand for trips to China’s southern Hainan resort, following Beijing’s announcement of visa-free travel for Russians on a one-year trial basis, starting from September 15. This development has been welcomed by Russian President Vladimir Putin, who has pledged to reciprocate the gesture by granting Chinese visitors the same privilege.
The significant increase in foreign travel expenditure by Russians is a notable trend, reflecting changing preferences and economic factors. As the tourism industry continues to evolve, it will be interesting to see how this trend develops and how it impacts the global tourism market. With the recent developments in visa-free travel between Russia and China, it is likely that the demand for international travel will continue to grow, presenting new opportunities and challenges for the industry.