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Improving economics benefit Tourism Several reports issued recently indicate that the standard of living in Russia is improving constantly. Whilst these changes are primarily focused in Moscow, St Petersburg and some other major cities it is clear to see that disposable income is being spent on retail goods and travel. The reports show that members of the middle class are spending more than 15% more in the first 3 quarters of 2002 than in 2001 on clothes, appliances and audio-video equipment which is good news for the consumer goods suppliers. Definitions of the middle class and estimations of its spending power and size do vary, however some averages are appearing. A middle class family is categorised as one that has a monthly income from $.400.- to $.3,000.- Whilst low in comparison to many countries these figures are offset by the lower prices paid for utilities and housing. Russians have also become very brand conscious and this is reflected in the numbers of International Brands that are now promoted on the Russian markets. These reports are good news for Tourism Experts as the surveys indicated that the Russian middle class expects to travel Internationally two times a year and that more money would be spend on travel than on new cars for example.  |
