SberIndex: Russians cut spending abroad by USD27 bn

Jan 22, 2021

SberIndex analysts claim that Russia saw its outbound tourism down 80% while spending of Russians outside the country is down USD27 bn.

During summer, the number of Russians traveling abroad sunk across all international destinations. In winter, people traveled more to Tanzania (+358% y-o-y), the Maldives (+26% y-o-y), and Kenya (+34% y-o-y).

During the 2020‒2021 New Year holidays, the number of Russian tourists in the Maldives and Tanzania reached the level of Egypt and was twice as high as in Cuba.

Tourist flow to Thailand, once a leading winter destination, dropped to near zero.

Domestic tourism replaced foreign tourism to a large extent. Over one-half (53%) of those who vacationed abroad in the summer of 2019 traveled across Russia in the same period of 2020; in winter the metric reached more than a quarter (28%).

In the summer season, Russia saw spending by travelers grow faster than the tourist flow by 10 pp.

The high activity of travelers in Russia in the summer of 2020 allowed stakeholders to close the year without losing in domestic tourism volumes.

In summer, the Golden Ring regions entered the Top 10 in terms of the tourist flow increase.

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When publishing the materials, a reference to SberIndex (www.sberindex.ru) is mandatory.

SberIndex.ru is an analytical website by Sberbank that illustrates how life in Russia has changed during the COVID-19 pandemic. Today, you can find three key indexes on the website, all of them based on anonymized data. These are an incidence model, the consumer activity index, and consumer activity changes. The all-new Business section features the evolution of gross payroll and change in small business activity. The website also has other studies, including all SberIndex lab ones (former SberData).