Digital travel sales in Russia will total $11.37 billion in 2018, up 20.5% over last year, according to eMarketer’s latest forecast on worldwide digital travel sales.
The effect of the 2018 FIFA World Cup in the country is a chief reason for the sizeable increase. Other notable sporting events in the region have also driven growth over the past few years, including the 2016 IIHF Ice Hockey World Championship, as well as the 2017 FIFA Confederations Cup, which have led to tourists hailing from the US, China and other nations.
These sporting events, along with healthy growth in online travel agencies (OTAs), intermediaries and car-sharing services have helped to drive digital travel sales in Russia. As a result, eMarketer has increased its estimates since its previous forecast.
We expect digital travel sales in Russia will climb by 13.5% next year to reach $12.90 billion. By 2022, sales will reach an estimated $17.29 billion.
“Russia’s online travel market growth is twofold—both the shift from offline to online channels and increased spend are contributing to robust expansion,” said Jaimie Chung, forecasting analyst at eMarketer. “A growing car-sharing market, the proliferation of supplier websites and a multitude of OTAs demonstrate that this dynamic market is one to watch. In addition, the economy’s steady recovery from the ruble crisis has allowed consumers to spend more on travel, an important facet of life for many Russians.”