Mubasher: Russian tourists flying to the Gulf Cooperation Council (GCC) member countries are forecast to record a higher travel and tourism revenue of $1.22 billion by 2023, increasing by 19% compared with 2018 figures, according to data released ahead of the Arabian Travel Market (ATM) 2020.
As per the latest Colliers research, commissioned by Reed Travel Exhibitions, the UAE will witness the highest growth, with an expected total tourism spend by Russian visitors worth $1.153 billion by 2023, whereas spending per trip is likely to rise by 5% to $1,750 comparable to $1,600, a press release on Monday said.
“With the oil price recovery, stabling of the financial markets and increased disposable incomes, Russia, once again, represents a significant growth area for travel and tourism revenue across the GCC as Russian nationals turn to the region for its year-round sunshine, world-class hotels and resorts and fast-paced leisure facilities and amenities,” said Middle East Exhibition Director at Reed Travel Exhibitions, Danielle Curtis.
Saudi Arabia is projected to rank second after the UAE and closely followed by Oman, with total Russian tourism spending to reach $28.659 million and $21.788 million, respectively.
Russia has remained one of the top ten source markets for the UAE, with 578,000 Russian visitors entering the UAE last year, with projected growth at a Compound Annual Growth Rate (CAGR) of 4.2% to 688,300 by 2023, according to Colliers International.
The relaxed visa regulations offered to Russian nationals as well as the introduction of additional airline routes between the two countries have backed for the said growth.
While the UAE will account for the majority of Russian arrivals in the GCC, Oman will follow with a comparative growth by 4%, receiving 13,000 Russian tourists by 2023, followed by Saudi Arabi with an expected 3.2% annual rise at 17,100 by 2023.
"Following recent reforms in the Kingdom, the introduction of tourism e-visas and the on-going development of Giga projects including The Red Sea Project and Amaala, Saudi Arabia is looking to capitalise on Russia’s growing tourism spend," the report noted.
“Higher Russian visitor numbers will help support investment opportunities and economic diversification, in line with the kingdom’s plans to target 30 million visitors annually by 2030,” added Curtis.
Held at the Dubai World Trade Centre (DWTC) between 19-22 April 2020, ATM 2020 will bring new buyer forums and networking events, placing a spotlight on Russia’s expanding outbound tourism market.
