The number of Russian tourists travelling to the GCC in 2020 is expected to be 38% higher than the arrival figures recorded for 2016.
That’s according to figures supplied by Arabian Travel Market 2018, which takes place at Dubai World Trade Centre from April 22-25.
Simon Press, senior exhibition director, ATM, said: “Traditionally, the GCC has always been popular with Russian tourists but over recent years, we have witnessed some fluctuations in their arrival rates across the GCC, which was a reflection of volatility in the financial and energy markets. As those factors begin to steady, we are seeing more and more Russian visitors arrive and we expect this to continue.
“An increase of 38% on 2016 arrival figures provides a significant boost to the regional tourism industry and is supported by a number of stakeholders, from immigration initiatives, to the region’s hotels, its F&B venues, resorts, theme parks and malls, which all appeal to Russian visitors.”
Looking at the economic drivers, Press said, the value of the Russian rouble is stable and firming gradually, helped by Russia’s decision to join OPEC and cut oil production, which has supported an oil price recovery to over $60 per barrel, while forecasts for 2018 put oil at an average of $57 per barrel, a 5.6% increase over 2017.
Commissioned by ATM, ahead of its 25th edition, the research study by Colliers International found that while the UAE will account for the majority of Russian arrivals, Oman will actually experience the highest Compound Annual Growth Rate (CAGR), at 9.2%. Both countries eased visa requirements for Russian nationals in 2017, in line with their respective tourism strategies. The Colliers research also revealed UAE visitors to Russia were forecast to increase by 15% in 2018, compared to 2016, as Russia hosts the World Cup.
Already feeling the benefits, in the first three quarters of 2017, Dubai reported a 98% year-on-year increase in the number of Russian arrivals, and the country is one of the emirate’s top 10 source markets. Further supporting the demand, flydubai twice extended its Russian network in 2017, adding flights to Makhachkala, Voronezh and Ufa, and daily flights to a second airport in Moscow – Sheremetyevo International.
With equal appeal to business visitors, Dubai was named the most popular Russian real estate investment destination in 2016, driven by the emirate’s market supply of off-plan luxury properties.
