Tourism effects of Russia’s war on Ukraine
While Ukraine and Russia will suffer significant impacts in terms of inbound travel, there will be immediate and direct impacts across other destinations due to weaker economic conditions. In aggregate, Russia and Ukraine outbound travel accounted for 5.4% of global international trips in 2019.
What you will learn:
- Sanctions have already weighed heavily on the Russian economy and will significantly impact travel and economic activity in Russia and beyond.
- In the short term, countries that rely on Russian and Ukrainian visitors will be affected as travel from both countries will be limited. Larger impacts are expected in terms of travel from Russia.
- Over the longer term, the effects of airspace restrictions and rising oil prices could feed through into ticket prices, depressing the recovery of international travel, while supply disruptions in terms of oil, gas and food supplies will feed through to already high inflation rates in Western economies, especially in Europe.
Tags:
Related posts
Post
Promising trends signal optimism for the hotel sector
The global travel recovery took great strides in 2023, with some destinations already reporting a full recovery back to pre-pandemic levels. Trends continue to suggest further growth in tourism activity going into this year, signalling optimism for the hospitality sector going forward. But risks stemming from inflation, geopolitical tensions and climate change will persist.
Find Out MorePost
High satisfaction generates loyalty in the cruise industry, but experiences vary across segments and destinations
Tourism Economics’ latest cruise industry research briefing based on research among active cruisers identified strong underlying satisfaction with cruise experiences globally as nearly 90% rated their last cruise as good or very good.
Find Out MorePost
Global Cruise Trends Report: March 2024
This report delves into research conducted in Q4 2023 across five key cruise markets, all indicating strong cruise demand. Our comprehensive market intelligence aims to equip the travel industry with insights into the significant growth potential in the cruise industry.
Find Out MorePost
The important role of location and port appeal on cruise selection
Based on research conducted in Q4 2023 among active cruisers from five key markets, consumers demonstrated a strong preference to undertake cruises within their own global region.
Find Out More