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Russian inbound tourism to lose up to $9 bln from borders closing by yearend

Travel agencies expect inbound tourism to start recovery no earlier than 2021

© Stanislav Krasilnikov/TASS

MOSCOW, September 30. /TASS/. Losses of Russia’s inbound tourism from borders closing have reached around $7 bln and may total $8-9 bln by the end of the year, President of the Russian Travel Industry Union Andrei Ignatyev told reporters on Wednesday.

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"We estimate losses from borders closing for inbound tourism at around $7 bln, whereas by the end of the year I expect them to be estimated at about $8-9 bln," he said.

The flow of tourists to Russia was halted in March 2020 due to the coronavirus pandemic, Ignatyev said, adding that the country’s economy earned around $10 bln thanks to foreign tourists in 2019.

Travel agencies expect inbound tourism to start recovery no earlier than 2021, the Association of Tour Operators of Russia said earlier.

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