Growth of touristic trips of Russians last year is below an average

newsletter 04/04/2013

By the data of Informational and Analytical system Globas-i, 44 160 companies are registered in Russia, which are working at the travel agencies activity field. Among them only 1 500 organizations provided financial statement for 2011 to the Rosstat - the last reporting period.

Proceeding from the financial statements, the size of the tourist services market in Russia for 2011 makes more than 54 billion rub. In last reporting period (2010) this index was on mark in 37 bln  rub. It has changed on 47%. However the net profit of travel agencies in 2011 decreased on 52% (340 mln rub.). Reduction of the net profit size during increasing in volumes of sales can speak about decreasing of industry’s efficiency functioning, including falling of sales profitability, which reflects ability of the company to supervise the expenses.

According to the Informational Agency Credinform most of the companies (44%), which are working at travel industry and provided financial statement for 2011, have satisfactory solvency index in Globas-i. Change of the economic situation can have the considerable impact on execution of their debt obligations. However there are also a lot of companies in this industry in Russia which have high solvency index (42%). Risk of failure to meet their financial obligations at such organizations is insignificant. Low solvency index was assigned to 11% of companies who filed financial reports. This group has high dependence not only on change of the economic situation, but also on borrowed funds. Unfortunately, in Russia there are very few travel companies which have the highest index – only 3%. In terms of cooperation, receiving profit and minimization of risks, the enterprises of this group would be the most attractive for investment and contracting.

Solvency index and net profit TOP-10 of Russian travel operators
(Companies are ranged by turnover)
Name INN Turnover, ths RUB, 2011 Net profit, ths RUB, 2011 Solvency index
1 "FIRM NEVA" CJSC 7813034418 3 684 068,00 401,00 255 (high)
2 Versa Ltd 7802137274 3 392 209,00 10 993,00 223 (high)
3 SOLVEKS-TURNE LLC 7813080157 2 514 081,00 2 228,00 217 (high)
4 South Cross Travel LLC 7707650655 2 169 558,00 4 871,00 257 (high)
5 ACADEMSERVICE LTD 5024053441 1 766 151,00 5 239,00 241 (high)
6 Limited liability company "VODOHOD" 7707511820 1 748 113,00 24 314,00 260 (high)
7 "SIRENA-TRAVEL" JOINT STOCK COMPANY 7714171484 1 212 948,00 437 080,00 153
(the highest)
8 CJSC AgentstvoDAVS 7704524814 631 860,00 45 258,00 173
(the highest)
9 OJSC Intour-Khabarovsk Khabarovsk foreign tourism and commerce company 2702032046 615 755,00 11 364,00 204 (high)
10 LLC Interkom 7708676102 606 822,000 76 531,00 284 (high)

 

By the results of 2011 the positive tendency was also outlined: in selection of working travel agencies there are no companies with unsatisfactory solvency index, in case of which cooperation with such companies is recommended to be rejected.

The main revenue part of Russian travel agencies is received by sending citizens abroad. In accordance with the Rosstat data in 2012 for the purpose of tourism Russians made 15,332 million trips and this is more than in 2011 on 5,8%. However, having compared the growth of citizens’ foreign tourist trips in previous years, it is possible to make a conclusion that in 2012 the interest to foreign tourism was low. For example, in comparison with 2010 in 2011 the growth was 15%, in 2010 relatively to 2009 – 32%.

Such development of travel market some experts explain by lowering of purchasing power of the population. Among possible reasons it is possible to mention the increasing of travel tour cost in 2012, which reduced demand on the mass directions. The growth of travel tour cost was caused by more attentive approach of tour operators to pricing questions. After record quantity of the bankruptcies which were marked last year in the tourist market, experts noted lowering of dumping wars activity, therefore the quantity of last-minute tours decreased.

The most popular directions for Russians foreign tourism still remain Turkey, Egypt, China, Thailand and Spain. Most likely, in the current year the provision of the first three won't change, though, by some estimates, Spain has every chance to rise to the third place. During last years this direction shows the stable growth and interest from our tourists.

It is interesting, that maximal growth of trips abroad relatively 2011 showed UAE. The number of travelers from Russia increased on 39%. Turkey, despite the maximum indexes of tours quantity, lost 6% relatively indexes of 2011. Indexes across Finland became rather unexpected: country visit for the purpose of tourism decreased on 44% in 2012. Most likely it is connected with entrance redistribution on the arrival purposes. Russians, entering by multi-visas to do shopping, began to specify the arrival purpose "private", instead of "tourist".

The main problem of the previous season remained bankruptcies of tour operators and travel agencies. In order to avoid similar mass cases since this year except expenditures on insurance operators will pay contributions to fund of the emergency help to tourists. The annual contribution will make 0,1% from turnover, but not less than 100 000 RUB. However there is open question, whether all the travel agencies will be able to pay such amount without prejudice to business and how it will affect on the price of travel products.

Receiving information from daily updated database Globas-i® of Information Agency Credinform – is one of methods of risks lowering of cooperation with unfair tour operators.