Ukraine war disrupts EU tourism sector
Date
9/23/2024 9:34:44 AM
(MENAFN) The ongoing conflict between Moscow and Kiev has significantly disrupted EU tourism, which was on the path to recovery from the Covid-19 downturn, according to a major report.
The ongoing conflict between Moscow and Kiev severely disrupts EU tourism, which was recovering from the Covid-19 downturn, according to a major European Travel Commission (ETC) report published in September. The loss of Russian and Ukrainian tourists, combined with decreased consumer confidence and rising travel costs, has significantly impacted several tourist destinations in the bloc.
Before the outbreak of the Ukraine conflict in February 2022, Russian and Ukrainian outbound tourism represented 3 percent (USD14 billion) of global industry spending. In Europe, Russian tourists comprised 10 to 20 percent of incoming revenue in neighboring countries like Latvia, Lithuania, Estonia, Finland, and Moldova, along with coastal destinations such as Türkiye, Montenegro, and Cyprus.
Cyprus has been particularly hard hit, losing 90 percent of its Russian tourists, which were its second largest market, and completely losing its Ukrainian market. Finland lost its largest source of tourists from Russia, causing “extreme difficulties for businesses, especially in the eastern region,” according to the report. Similarly, Bulgaria has lost two key markets: Russian and Ukrainian tourists.
The impact on these nations highlights the significant role that Russian and Ukrainian tourism played in the EU economy prior to the conflict, emphasizing the need for alternative strategies to recover lost revenues. The report urges stakeholders to explore new markets and strengthen existing tourism infrastructure to mitigate these losses.
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