Tour operators have announced the risk of a new wave of bankruptcies in the industry

Tour operators have announced the risk of a new wave of bankruptcies in the industry

Tour operators have announced the risk of a new wave of bankruptcies in the industry
Russian tour operators concerned about a new wave of bankruptcies, which may overtake them in connection with the need to return funds for the tours that were purchased but were not used.  Obligations to do this expire at the end of 2021, however, there is no money to fulfill the right assigned to tourists.

The day before, representatives of the tourism industry turned to the Government of the Russian Federation with a letter, which contains a request to extend the period for refunding money for failed trips to the tourists.  According to Izvestia, the authorities are considering the option of supporting tour operators in this way in a situation where they have not been able to implement tours to countries that are currently closed for visits.
It is reported that the total amount of debts of tour operators to their clients has reached 25 billion rubles, while the accumulated insurance amounts will be enough to pay only a third.
The Russian Union of Travel Industry believes that the government's refusal to extend the postponement may result in a massive exodus of travel companies from the market, as a result of which tourists, who will not receive any money, will also suffer.

The text of the appeal addressed to Mikhail Mishustin says that at the moment, the most of the tourist destinations are closed, which did not allow tour operators to fulfill their obligations to their clients.  According to the authors of the letter, more than half of the companies included in the Unified Federal Register are under the threat of bankruptcy.

17.11.2021