Russians Spend Record $23.3B Abroad in H1 2026
Russian tourists spent a record $23.3 billion abroad in the first half of 2026, driven by a strong ruble and disruptions to southern Russian resorts, according to the Central Bank. Despite this, outbound tourism volume is projected to grow only 4.5% in 2026, with a significant decline in visits to the UAE.
Consensus
- Russian tourists spent $23.3 billion abroad in the first six months of 2026.
- The Central Bank of Russia reported that this amount is a record for the first half of a year in 11 years.
- The growth in spending is attributed to a strong ruble and disruptions to resorts in southern Russia.
- The volume of outbound tourism is projected to grow by 4.5% in 2025 compared to 2025.
- The number of Russian tourists traveling abroad in 2026 is expected to reach 14 million.
- The growth rate in 2026 is significantly lower than the 15.5% growth in 2025.
- The 2026 figure is 22.2% below the pre-crisis 2019 level of 18 million tourists.
- The UAE saw a 48.9% year-on-year decline in Russian tourists in January–June 2026.
- The decline in visits to the UAE is linked to spring restrictions on air travel and incomplete recovery even after their removal.
- Alternative destinations such as Vietnam, China, and the Maldives are showing strong growth.
Points of divergence
- The number of Russian tourists visiting the UAE in 2026 is projected to be less than 1 million, a drop of over 41% year-on-year. — kommersant
- The Central Bank attributes the rise in tourism spending to the strong ruble and attacks on southern Russian resorts. — tg_moscowtimes_ru
- The main factors limiting outbound tourism growth in 2026 are the overall economic cooling and the conflict in the Middle East. — kommersant
- The increase in average tour package prices is due to war in Iran forcing Russians to take more expensive direct flights instead of connecting flights via the Middle East. — tg_moscowtimes_ru
Coverage (2 sources)
- Outbound tour traffic in 2026 will grow by only 4.5% — Коммерсантъ
- Russians spent record amount abroad in six months in 11 years — The Moscow Times