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Russia Tourism Report Q1 2012
Business Monitor International, Dec 2011, Pages: 68
The most recent national data for H111 show solid growth of 14% year-on-year (y-o-y) in the number of foreign visitor arrivals to Russia, after similar growth in Q111. This was a strong rebound on weak growth in arrivals in H110 of just 2% y-o-y. Of the top source markets (outside the former Soviet Union), Finland, China and Poland all recorded favourable growth in arrivals, equivalent to 36%, 14% and 71% yo- y respectively. The other major source market, Germany, recorded only slight growth of 1% compared to H110. Of the Baltic states, Estonia provided positive growth of 9% y-o-y, while Lithuania and Latvia both recorded negative growth of -15% and -12% respectively.
Forecast Scenario
BMI has again raised its outlook for foreign visitors to Russia in 2011, to annual growth of 9.4%, mainly due to recent strength in arrivals. We continue to expect growth to slow in 2012, however. The forecasts are strongly influenced by real GDP growth in the eurozone – an important source market for tourists – which we have revised down this quarter to 1.7% and 1.2% in 2011 and 2012 respectively, though growth should accelerate in 2013. Alongside other emerging markets’ currencies, the Russian rouble came under sustained pressure against the US dollar in Q311 on the back of heightened global risk aversion. However, we see possible short-term support for the resurgence in the rouble. Broadly speaking, through to the end of 2012, BMI believes stable oil prices will help support the rouble against the US dollar and the euro.
Aircraft Safety
In September 2011, a Yak-Service aircraft, a Yakovlev Yak-42, carrying Russian ice hockey team Lokomotiv Yaroslavl crashed shortly after takeoff from an airport in Yaroslavl, north-east of Moscow, killing 43 of 45 people on board. In another case, crash investigators have confirmed that a Tupolev TU- 134A, flown by local carrier RusAir, which crash landed at Petrozavodsk Airport in June 2011 (47 people on board died), had no technical problems and the crash was the result of errors by the pilot and other members of the crew. The navigator of the plane had also been drinking alcohol, investigators said. Moscow Domodedovo Airport
Figures for January-September 2011 show passenger numbers up solidly at Moscow Domodedovo Airport by just under 17% y-o-y (to 19.8mn). International traffic grew by 17.6% y-o-y to over 12.1mn, with the most buoyant growth (+60%) recorded for the following destinations: Antalya, Barcelona, Munich, Frankfurt and Paphos. Over the same period, domestic traffic was up by about 16% y-o-y, with the strongest growth on routes to Krasnodar, St Petersburg, Yekaterinburg, Rostov-on-Don and Novy Urengoy. The number of passengers on these routes increased by over 37% y-o-y. Aeroflot And Transaero Airlines
During the first eight months of 2011, the Russian national carrier Aeroflot recorded a strong 23% y-o-y increase in passenger numbers to almost 9.2mn, with both international and domestic traffic increasing by around 23% y-o-y. In H111, Aeroflot reported a 29% y-o-y rise in operating profit to US$204.7mn. In October 2011, Airbus announced a provisional deal to sell four A380s to Russian carrier Transaero Airlines – the first sale of Europe’s superjumbo to a Russian airline. In November, Transaero signed an agreement with Boeing for four Boeing 747-8 aircraft. Data for January-September 2011 show Transaero carried nearly 6.6mn passengers, a robust increase of just under 30% y-o-y.
Accommodation Developments
In October 2011, Hilton Worldwide announced four new hotel developments in Russia, all of which are due to open over the next two years or so. Hilton has also boosted its focus on Russia following a multiproperty agreement with Osnova Development. The agreement is for at least 11 hotels, which will add about 1,500 rooms to Hilton’s portfolio in the country, involving two of its brands: Hampton and Hilton Garden Inn. In Q311, InterContinental Hotels Group (IHG) announced major expansion plans for Russia and the Commonwealth of Independent States (CIS) over the decade. In particular, IHG, which has 11 hotels in Russia, aims to develop its Crowne Plaza and Holiday Inn brands.
Business Monitor International's Russia Tourism Report provides industry professionals and strategists, corporate analysts, tourism associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Russia's tourism industry.
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