Phuket Property – Russian Market Set to Rebound

Phuket property is hoping for a lift to match the gains the rouble is making on the back of rising oil prices with Russian tourism and property purchases expected to rise. The Tourism Authority of Thailand (TAT) forecasts Russian tourist arrivals will reach 1 million this year. Tanes Petsuwan, TAT’s executive director for Europe, Africa and the Middle East commented that the number of Russian visitors began to rise in February and kept growing in March and that momentum is expected to continue throughout the year. “This boost would follow a rocky 2 years in which Russian arrivals dropped consistently,” he said.

In both Phuket and Pattaya, the increase in Chinese arrivals has helped offset the drop in Russian travellers to Pattaya, but they typically spend less money.

Phuket remains the primary destination for Russians and now many also visit Krabi province and Khao Lak in Phang Nga province. The TAT is predicting a clear shift in terms of quality versus mass market tourists from Russia later this year.

Source: Bangkok Post 10th May 2016

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