Russia and the Russian Travel Trade 2004

Russia has again been in the news a lot over the recent months and despite concerted attempts from some factions to create negative views, the overall picture is positive.

The Duma elections have confirmed the direction that Russia will follow in the next 4 years and the Presidential Elections in March are not expected to provide any surprises or excitement.

The rope tightening around the neck of Yukos Oil highlights the seriousness of this administration and the path that they intend to follow to reign in the oligarchs and encourage transparent business on all levels.

The Russian Government was able to report one of the most successful years in the 12 years of economic transition with a economic growth rate of between 6.5 to 7% and inflation dropping to 12%.

Many articles refer to the substantial increases in domestic consumer demand and that the real driving force behind the GNP is the consumer and retail sectiors.

With salaries slowly increasing, the standard of living improving and an increase in disposable income the future looks strong for International Tourism from Russia. Turkey and Egypt recovered quickly from the world events in early 2003 and reported record numbers of arrivals. Other sectors of the market have indicated stabilisation whilst specialised segments (exotic destinations, luxury travel and even Golf travel) are experiencing continued growth.

The future for 2004 looks very positive, the exhibition organisers are reporting record sales and limited space still available.

From all at Russian Travel Monitor we wish our Tourism Colleagues worldwide a prosperous New Year and look forward to meeting many of you at the numerous events in Russia and throughout the CIS.

The Editor