Russian tourists spend less on holiday abroad

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During the Christmas holidays, banks have noticed decrease in the number of transactions of Russian clients from abroad. According to VTB 24, in the period from 1’st to January 11’th, their clients spent up to 40% less money abroad than for the same period in 2014. Compared to the same period of 2013 expenses have decreased by 17%. The volume of card transactions amounted to 1.6 billion rubles. The largest turnover was recorded in Italiji- nearly 198.5 million rubles. Their clients have also spent large amount of money in France, the United Arab Emirates, Austria and the United States. The list, As opposed to last year, Finland was not on the list- it was replaced by Austria.

The amount of rubles per person remained almost unchanged compared to the previous year.  It ranged from 52,544 rubles for Austria to 99,534 rubles for the UAE. However, the cost in terms of currency declined – in 2014 bank’s customers spent € 1387 per person in Italy, and in 2015 – is € 952. In general, the volume of card transactions, according to VTB 24,increased  for the New Year holidaysdue to rising costs in Russia. They amounted up to 6.3 billion rubles, while in 2014 the figure was 4.8 billion, and two years ago – a 3.5 billion rubles.

According to bank Avangard statistics, total turnover in rubles for the holidays grew. At the same time, there was a change in the structure of financial transactions: increased its components in rubles and decreased in the currency, more noticeable decline in transactions was recorded in Europe. A significant increase in the dollar and the euro immediately affected consumer behavior: in particular, the Avangard noted decrease in the number of purchased airfares through their online bank account.  According to the deputy chairman of the bank Revival Mark Nakhmanovich, as clients card transactions abroad decreased, in Russia they grew naturally. This is usual behavior of the population in the current economic enviroment and current growth of currency exchange rates. Experts are convinced that the consumption of the population abroad, in 2015 will decline while in Russia grow.

Source: Rata News

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