Research and Markets: Travel and Tourism in Russia Is Expected To Contribute 1.4% to the National GDP As Well As 1.4% of the Country's Total Employment In 2011

DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5fa186/travel_and_tourism) has announced the addition of the "Travel and Tourism in Russia, Key Trends and Opportunities to 2015" report to their offering.

As one of the highest travel-spending nations in the world, Russia will continue to attract investments in infrastructure and travel-related companies, opening up new business opportunities throughout the country's tourist industry. The country is expected to record strong growth in both inbound and outbound tourism over the next five years, and with small cities experiencing a construction boom to improve infrastructure, the potential market for travel and tourism will grow manifold.

The country's hosting of the 2014 Winter Olympic Games and the 2018 FIFA World Cup also offer immense opportunities for the Russian travel and tourism business. The country's severe undersupply of budget hotels is increasing average room rates, and the increasing number of both business and leisure tourist arrivals is driving demand for quality accommodation across all the regions in the country.

Key Highlights

• Russia's growth in tourist volume could be attributed to several factors, including the country's strong economy, rising disposable income levels and government initiatives to promote the country as an attractive tourist destination
• The tourist volume in Russia increased from 142.9 million in 2006 to 164.6 million in 2010, registering a CAGR of 3.61% during the review period
• The top five countries from which inbound tourists originated in 2010 were Finland, Lithuania, China, Germany and Latvia
• The majority of outbound trips in Russia were to countries in the Commonwealth of Independent States and other neighboring countries such as Finland, Poland, the Baltic States and China
• A growing share of outbound travel has been for sun and beach destinations such as Egypt and Turkey

Companies Mentioned:

• Aeroflot OAO
• UTair Aviakompaniya OAO
• Sixt Russia
• Rossiiskie Zheleznye Dorogi OAO
• Murmansk Shipping Company
• Trans Russia Express
• Swissotel Krasnye Holmy
• The Ritz-Carlton
• RED STAR TRAVEL
• TUI Russia & CIS

For more information visit http://www.researchandmarkets.com/research/5fa186/travel_and_tourism