Russian tourists who come to the GCC are predicted to generate approximately $1.22bn in revenue for the travel and tourism industry by the year 2023, according to new data.
The data, which was published in advance of the Arabian Travel Market 2020, suggests that 2023’s figures will be an increase of as much as 19% on those from last year.
The Arabian Travel Market is being held from 19th to 22nd April 2020 at Dubai World Trade Centre.
The new research from Colliers International, which was commissioned by the organiser of the event Reed Travel Exhibitions, predicts that the highest growth will be experienced by the United Arab Emirates.
The spending by tourists from Russia is expected to reach as much as $1.153bn by 2023, with the spending per trip rising by 5% to $1,750 from the previous figure of $1,600.
The exhibition director ME of the Arabian travel market, Danielle Curtis, says that with increased disposable incomes, the stabilising of the financial markets and the recovery of oil prices, Russia has again become a significant growth area for the industry.
Russian nationals are beginning to look at the GCC because of the region’s world-class resorts and hotels, amenities and fast-paced leisure facilities and sunshine all year round.
The second-biggest increase will be experienced by Saudi Arabia, followed by Oman.
Russian outbound tourism figures show that the nation represents one of the UAE’s top ten source markets.
As many as 578,000 Russian tourists entered the UAE last year, and this figure is expected to increase by a 4.2% Compound Annual Growth Rate by 2023 and reach 688,300 Russian tourists, Colliers International is predicting.
The links between the UAE and Russia have been strengthening in recent years thanks to the introduction of extra airline routes and relaxed visa regulations for Russians, Curtis says.
Earlier this year, flydubai became the first airline in the Gulf region to provide direct flights to and from the UAE to Sochi.
Flights between the two nations have also been increased by Emirates and Etihad, with a third daily Moscow flight being introduced by the former last year.
The Colliers International research study discovered that although most of the Russian arrivals within the GCC are accounted for by the UAE, the second-highest growth will be experienced by Oman at 4%.
Oman is expected to welcome as many as 13,000 Russian tourists by 2023.
In third place will be Saudi Arabia with a projected 17,100 Russian tourists, a comparative increase of 3.2% compared to the figure of 15,200 recorded last year.
Russia has been very well represented at the Arabian Travel Market over the course of the last 27 years, with a 16% increase in Russian visitors wanting to do business in 2019 compared to just last year.
Anyone intending to travel to and from the UAE and Russia should take out travel insurance beforehand.
Travel insurance is a great way to ensure that unwanted travel experiences such as cancelled flights and lost luggage do not leave you worse off financially.