The Russian currency’s exchange rate depreciation, as well as bureaucratic issues, have greatly affected the flow of Russian tourists to Greece. According to the media, Russian tour operators estimated that the flow of tourists from Russia is lower, compared to the same period last year.
The Russians have cut back on their holidays and this has a direct impact in Greece, which is a popular destination for Russian tourists, according to Euromonitor. Russia is a key market for the Middle East and Southern Europe and, therefore, any changes in the people’s habit affects those areas as well.
The sanctions, weak oil prices and recession has prevented Russians from traveling abroad. The number of Russian tourists traveling to other European countries decreased by 9% this year, compared to 2014, according to a CNBC report. However, operators also noticed a significant reduction last year, since the Russian economy is struggling with the sanctions imposed on banks and energy companies, as a result of developments in Crimea.
Furthermore, according to estimates formed early in the summer of 2015 by executives of the Tour Operator Union in Russia, the problems that the country’s economy is currently facing have significantly limited the number of Russian tourists who choose to travel in Europe for their holidays.