The Russia outbound tourism market is estimated to reach USD 27,101 million in 2022. Sales in the market are expected to grow at a robust 9.4% CAGR from 2022 to 2032. It is anticipated to reach a valuation of nearly USD 66,299 million by the end of 2032.
Russian tourists who travel abroad often choose Turkey as their ideal vacation spot, and one of the most well-liked resort cities in Antalya. Turkey is well-liked because of its easy visa process, affordable costs, and accessibility to all-inclusive vacations.
However, as there are so many affordable package vacations available, Turkey draws more than just travelers who are concerned with costs. The nation draws wealthy Russian travelers due to the abundance availability of top-notch hotels.
Russian citizens who travel to Turkey for business favor using rental apartments and guesthouses over staying in hotels, despite the fact that most business travelers prefer to do so. Turkey's natural and historical legacy, as well as resorts, spread out across the nation.
Due to its abundant availability of 5-star hotels and opulent convention facilities, Istanbul serves as a vital hub for foreign investment in Turkey's economic sector. According to a report by the European Travel Commission, Russians frequently travel to Turkey for shopping or to engage in cross-border trade.
Moreover, according to media reports, airlines have been told not to sell any more tickets to men in the military unless they can provide proof of approval to travel from the Russian Ministry of Defense. To support his military's combat in Ukraine, the Russian President ordered a partial mobilization to call up as many as 300,000 reservists to active duty. Many Russian airlines and railways had stopped selling tickets to men belonging to the age group of 18 to 65 years, who can be drafted under martial law.
According to the European Union agency Frontex, since Moscow launched its February 24 offensive, more than 1.4 million Russian citizens have entered the European Union (EU) through its land borders. Approximately the same number returned to Russia from the EU during the same time period.
The similarity in the above-mentioned numbers shows that at least some of the journeys were for leisure purposes such as tourism, rather than to settle in the bloc. More than 519,000 crossings from Russia were made into Finland, while among nearly a quarter of those leaving the country for Europe, 360,000, reached Estonia.
| Attribute | Key Insights |
|---|---|
| Russia Outbound Tourism Market Estimated Size (2022) | USD 27,101 million |
| Projected Market Valuation (2032) | USD 66,299 million |
| Value-based CAGR (2022 to 2032) | 9.4% |
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The Russia Federation is considered to be one of the most influential markets for international travel. At present, it is expanding at a rapid pace, this trend is set to continue throughout the forecast period. With about 34.3 million outbound trips and USD 22.3 billion in terms of spending overseas in 2007, Russia is the ninth-largest outbound travel market in the world, according to the European Travel Commission.
Over the decade from 2000 to 2007, travel volume climbed by 9.4% year, but the cost rose by an average of 14% annually. Without a doubt, the pent-up yearning for international travel would significantly contribute to Russians' extreme enthusiasm for travel. All businesses operating in this expanding market will have a competitive advantage by understanding Russian travelers’ digital patterns.
Rising Preference for Weekend Getaways among Russians to Propel the Demand for Outbound Travel
Russians, excluding public holidays, have access to 28 days of paid vacation time, which is more for northern regions. The New Year's public holiday is the busiest travel season, followed by the summer season. Sometimes, weekend getaways are prolonged by taking a few days off work, and this factor is expected to drive the market in the evaluation period.
Because of the breadth of the Russian Federation, traveling to different areas takes time depending on where a person is located in the country. The flight from Vladivostok to St. Petersburg, for instance, takes approximately 10 hours.
When it comes to weekend vacations, location is even more essential. For example, only people who live close to the border can take relatively low-cost bus journeys to Finland and Estonia. Russia and international tourists thus prefer to travel to and from the country since it is more convenient.
Principal Consultant
In 2022, as economic sanctions started to tense and nations started looking for alternatives to Russian oil & gas, the country invaded Ukraine. Therefore, the price of oil broke the crucial level of USD 100 per barrel.
In response to one of the worst humanitarian crises that Europe has experienced since World War II, efforts to aid millions of Ukrainian migrants who are escaping war & violence and traveling west to neighbors like Poland have been put on hold. The absence of high-spending Russian tourists may not stop the recovery, but it will have a significant impact on travel destinations all over the world. It is set to negatively affect Turkey, Thailand, Europe, and the Caribbean.
As a result of the implementation of economic sanctions, closures of the airspace, and flight restrictions, a reduction in Russian outbound tourism spending may cause it to fall by as much as 50% below the level of 2021. Global inbound tourism will be significantly impacted in the next ten years if Russian and Ukrainian tourism collapses.
A number of influential factors have been identified to stir the soup in the Russia outbound tourism market. Besides the proliferating aspects prevailing in the market, the analysts at FMI have also analyzed the restraining elements, lucrative opportunities, and upcoming threats that can pose a challenge to the progression of the Russia's outbound tourism market.
The drivers, restraints, opportunities, and threats (DROTs) identified are as follows:
DRIVERS
RESTRAINTS
OPPORTUNITIES
THREATS
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Turkey to be the Most Popular Travel Destination among Russian Overseas Travelers
Russian tourists who travel abroad opt for Turkey as their vacation spot. One of the most well-liked resort cities is Antalya, as per the study. Due to its easy visa process, affordable costs, and accessibility to all-inclusive vacations, Turkey is expected to be the most favored destination.
Further, presence of lavish 5-star hotels and opulent convention facilities, Istanbul serves as a vital hub for foreign investment in Turkey's economic sector. According to a report by the European Travel Commission, Russians frequently travel to Turkey for shopping or to engage in cross-border trade.
People Belonging to the Age Group of 36 to 45 Years to Take Outbound Tours by 2032
Based on age group, the 36-45 years segment is likely to generate the largest share of 28% in the Russia outbound tourism market during the forecast period, followed by the 46-55 years segment. These travelers belong to the working class of Russia and have the spending capacity to take overseas tours. But, the number of overseas travelers belonging to the age group of 26-35 years is also set to surge. Tourists from this age group are primarily independent travelers who plan their trips on their own.
Online Booking is Mainly Preferred by Russian Outbound Tourists
In Russia, online booking for travel and tourism purposes is gaining impetus quickly. The online booking segment is thus anticipated to grow at a CAGR of over 14% during the forecast period, finds FMI. More and more travelers are using the internet to look for low-cost options for package vacations and flights.
As a result, an increasing number of businesses nowadays include online booking as one of their offerings. Additionally, a rising number of households with internet-connected PCs and evolving business strategies are boosting online sales. Travel agencies are projected to increase new sources of income as airline carriers are increasingly scrapping service fees.
Rising Number of Young Independent Travelers in Russia to Fuel the Demand for Outbound Tour Operators
As the internet is extensively being used on a large scale in Russia and various other parts of the world, there will be a rising number of independent travelers. According to FMI, the independent travelers segment is projected to generate a share of nearly 29% in the Russia outbound tourism market by 2032.
These types of tourists are mainly youngsters who are well-versed in upcoming technology. It thus makes it easy for them to search for affordable travel options and plan their tours as per their choices. It is further leading to an increased number of youngsters opting for online travel plans that would save time and money.
The majority of people belonging to the middle-aged population travel overseas from Russia. By providing a simple & straightforward booking process for tours and comfort throughout the trip, travel businesses all around the world are using a number of strategies to attract this particular demographic. Some players are also providing discounts on tour packages and in-advance reservations. A few others are making earnest efforts to draw Russian tourists to their territory.
For instance,
| Attribute | Details |
|---|---|
| Estimated Market Size (2022) | USD 27,101 million |
| Projected Market Valuation (2032) | USD 66,299 million |
| Value-based CAGR (2022 to 2032) | 9.4% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | Value (USD million) |
| Key Regions Covered | Europe |
| Key Countries Covered | Russia |
| Key Segments Covered | Purpose, Booking Channel, Tour Type, Age Group |
| Key Companies Profiled | Art Tour; ICS Travel Group; PAC Group; Karlson Tourism; Sodis; Antik Travel; Via Maris; Jetlane Travel; Euro business Tour Plus; Caribbean Club; Colors of the World; Miracle Tour; Finam Travel; Tree Travel; Sky Club; Expedia; Trip Advisor; Explore; G Adventures; World Expeditions; Others (on request) |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
The Russia outbound tourism market reached a valuation of USD 25,093.5 million in 2021.
The Russia outbound tourism market is set to grow at 9.4% CAGR during the forecast period.
Leading players in the Russia outbound tourism market are Art Tour, ICS Travel Group, PAC Group, Karlson Tourism, Sodis, Antik Travel, Via Maris, Jetlane Travel, Eurobusiness Tour Plus, Caribbean Club, Colours of the World, Miracle Tour, Finam Travel, Tree Travel, Sky Club, Expedia, Trip Advisor, Explore, G Adventures, and World Expeditions among others.
Based on age group, the 36-45 years segment is likely to generate the major share of 28% in the Russia outbound tourism market in the next ten years.
Based on the booking channel, the online booking segment is projected to dominate the Russia outbound tourism market and showcase a CAGR of 14% in the next ten years.
1. Executive Summary 2. Market Introduction 3. Global Tourism Industry Analysis 4. Market Dynamics 5. Market Background 6. Categorizing of Market 2021 6.1. Business 6.2. Leisure 6.3. VFR (Visiting Friends and Relatives) 6.4. Others 7. Competition Analysis 7.1. Art Tour 7.2. ICS Travel Group 7.3. PAC Group 7.4. Karlson Tourism 7.5. Sodis 7.6. Antik Travel 7.7. Via Maris 7.8. Jetlane Travel 7.9. Euro Business Tour Plus 7.10. Caribbean Club 7.11. Colors of the World 7.12. Miracle Tour 7.13. Finam Travel 7.14. Tree Travel 7.15. Sky Club 7.16. Expedia 7.17. Trip Advisor 7.18. Explore 7.19. G Adventures 7.20. World Expeditions 7.21. Others (as per request) 8. Assumptions and Acronyms Used 9. Research Methodology
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Russia Outbound Tourism Market
