By the end of 2023, the volume of the Russian hotel market may reach 785 billion rubles. This is 10% more than last year. This is stated in the forecast of the Yandex Travel service, which was reviewed by Kommersant.
Growth factors include the development of domestic tourism due to reduced opportunities for Russians to holiday abroad and the expected influx of tourists from China and Iran.
Market participants themselves consider the possible growth of the segment in terms of “formal” money due to a sharp increase in costs and the inability to significantly increase the cost of their services. Stripping out inflation, market turnover may not yet recover to 2019 levels, they say.
- Russians began to book accommodation in hotels in the Russian Federation on average ten days before arrival. During the COVID-19 pandemic, citizens bought rooms the day they moved out of fear of sudden restrictions. Now tourists fear the lack of quality hotels with the best cost of living in popular destinations. The increased booking depth also allows hoteliers to adjust rates and plan for costs, the experts add.
Author:
karina pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
