Solvex-Tourne, one of the major tourist companies in St. Petersburg, suspended operations on Monday according to the Russian Union of Tourism Industry. This leaves 9,000 travelers of the company stranded abroad, most of them in Greece and Bulgaria. Another 8,600 clients have already paid for tours that were to have taken place over the next few months, as late as Christmas.
Russia’s Orenburg Airlines had earlier announced cancelations of flights serving Solvex-Tourne as the tourist company had informed the carrier that it might suspend its activities.
The suspension of the tourist company’s activities would not affect tourists planning to travel to Bulgaria up to September 26 by Bulgaria Air Flights as these have already been paid for and accomodation has been covered. Furthermore, three insurance companies are bearing the financial burden of 450 million rubles ($12 million) for the tourist operator. A representative estimates that tourists will be able to receive 70-80% of the money paid for the trips.
Solvex-Tourne head Tamara Khaletskaya blamed the complicated political and economic situation that lowered the dmand for tourism, leading to a chain of bankruptcies that had also affected consumer trust and heralding a slump in sales. The company will continue its operations on the Russian domestic market.
The Association of Tour Operators of Russia are worried that more companies would follow suit and suspend operations
The Association of Tour Operators of Russia are worried that more tour operators would quit the market soon in a continuing chain of bankruptcies noted from mid-July. So far 16 companies closed due to financial problems. Some experts, however, state that the tourism companies failed due to te fact that they had been operating as financial pyramids. Either way, Russian Prime Minister Dmitry Medvedev has ordered inspections and is expecting suggestions on reforms to Russian tourism.
Prime Minister Dmitry Medvedev ordered inspections and was expecting suggestions on reforming the sector
In Greece
The head of Greece’s National Tourism Organization (GNTO) Panos Livadas sent a letter to the Russian Federal Agency for Tourism (Rostourism) asking for assistance in the return of stranded Russian tourists to Greece following the series of Russian travel agencies that have suspended operations. Livadas is seeking for Rostourism to facilitate oustanding payments to Greek companies.
On its part, the Association of Greek Tourism Enterprises on Monday called on its members to keep level-headed and asked for state aid for the Greek businesses affected by the problem.
Ask me anything
Explore related questions
