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Hotel revenues in Russia rise by 28% in January - August 2024

Georgy Grusha noted that thanks to serious state support measures, the number of available rooms in Russia is growing

MOSCOW, October 21. /TASS/. Revenues of business in the tourism industry - hotels and other collective accommodation facilities - in Russia for January-August 2024 increased by 28% compared to last year, Director of the Department of Project Implementation in Tourism of the Ministry of Economic Development Georgy Grusha said.

"The revenues of accommodation facilities are also growing this year. Year-on-year, we have plus 28% for eight months, business revenues in the tourism industry has increased in terms of hotels and various collective accommodation facilities," Grusha said.

He noted that thanks to serious state support measures, the number of available rooms in Russia is growing. "The business is also reinvesting its growing revenues," Grusha emphasized.

According to him, in the first half of 2024, investment growth in tourism amounted to 377 bln rubles ($3.9 bln), which is 60% higher than last year.

In March, Russian Finance Minister Anton Siluanov reported at a meeting with Russian President Vladimir Putin on the development of tourism that the profit of the Russian tourism industry in 2023 reached around 280 bln rubles ($2.9 bln).

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