MOSCOW, May 25 (PRIME) -- Profitability of the Russian tour companies dropped 60% due to the coronavirus pandemic and the losses amounted to about 1.3 trillion rubles, Vice President of the Association of Tour Operators of Russia Dmitry Gorin said on Tuesday.
"Profitability fell 60%, and the amount of losses in the tour industry currently stands at 1.3 trillion rubles," Gorin said.
He added that there were no bankruptcies in the industry but there were several insured cases as it was impossible to continue the activities. Whereas before the pandemic there were 568 tour operators for outbound tourism, only 419 remained on the market but many of the quitting switched to domestic tours.
Gorin also said that the debt of tour operators to people whose tours were cancelled in 2020 amounted to 40 billion rubles but has fallen to 14 billion rubles. At the same time, a new debt of about 20 billion rubles arose due to cancellation of tours to Turkey.
(73.5266 – U.S. $1)
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