Published on : Tuesday, July 10, 2018
Data produced by WTTC, in conjunction with Oxford Economics, has revealed the revenues in tourism in Moscow are all set to grow at an increasing pace of 6.6 per cent annually in the years to 2026, with tourism spending entirely done by foreigners is expected to rise by 9.6 percent per year on average over the next decade.
Only a week to go before the FIFA World Cup Final to kick start, Russia has played host to around one million fans participating in matches in eleven cities across the country.
As per the data produced by ForwardKeys over a period of June 4th-July 15th, has shown a 50.5 percent year-on-year growth of forward bookings for international arrivals in Russia.
Gloria Guevara, WTTC president, said “Travel creates jobs, drives economic growth and helps build better societies.”
“This is particularly the case in Russia, the 16th largest tourism economy in the world, with Moscow generating more than a quarter of Russia’s tourism revenue.
“Hosting this World Cup has given Russia the opportunity to showcase cities across the country and bring together millions of travellers, while contributing to the economic growth of the sector and creating jobs.”
She added: “Worldwide, 2017 was one of the strongest years of tourism GDP growth in a decade.
“Our sector now supports one in ten jobs on the planet and contributes ten per cent of global GDP.
“Over the past ten years, one in five of all jobs created across the world has been in the sector and, with the right support from Governments, nearly 100 million new jobs could be created over the decade ahead.”