Currency Calculator

Use the currency calculator to calculate the rate of exchange.

GBP Flag

1 GBP = 1.14892 EUR

EUR Flag

1 EUR = 0.87001 GBP

Change Currencies Currency Providers

Russian tourism grows

Axiafx compare table

Russian tourism grows

Russian tourists may soon look to make an overseas money transfer as more travellers from the region are holidaying abroad.

The number of tourists who wished to travel abroad increased by nearly 20 per cent during the first six months of the year in comparison with 2010, according to experts at Rostourism.

Inbound and domestic tourist flows increased by eight and ten per cent accordingly, explained company boss Aleksandr Radkov.

Mr Radkov explained that the growth of outbound tourism has usually been provided by "dumping".

"Dumping is a serious illness of our travel industry," the executive remarked.

"Working below cost, such tour operators come to grief sooner or later. Dumping destabilises the market and trains the tourists to hunt for the last-minute tours. As a result, there is no any profoundness of the sales, which increases the risk factor in tourism."

He stressed that it is important to continue moving towards the establishment of self-regulated organisations in tourism.

"Self-regulated organisations will create the mechanisms of the protection and will introduce the concrete standards of the quality," assured Mr Radkov.

Speaking about the upcoming winter season, the company boss predicts a growing popularity for long-haul destinations.

"The prospects of Egypt in the market will depend on the political situation in this country. For the moment we can see that the tourist flow has decreased," said Mr Radkov.

Pointing out that Ministry of Foreign Affairs of the Russian Federation and Rostourism didn't recommend visiting major cities in Egypt, he said that travel to the Emirates will probably serve as a replacement.

Leave a comment

What's the press saying about our company?

Top 5 Foreign Exchange Companies