Tourism and hospitality business opportunities in Russia

Businesses in the tourism and hospitality industries keen to expand their international sales should consider the opportunities available in Russia, with its high-growth economy, emerging consumer class and expanding construction industry.

In 2004-05, Austrade helped Australian companies achieve $460 million in export sales in the Russian Federation, Moscow-based Senior Trade Commissioner Gregory Klumov said.

An upcoming series of seminars in Australian capitals will demonstrate the breadth of opportunities that exists in the Russian market and explain how Australian businesses can access them.

“Businesses in the tourism and hospitality industries seeking to take advantage of Russia’s economic growth rate of almost seven per sent annually over the past six years can learn a great deal at these market seminars,” Mr Klumov said.

“Like any export market, doing business in Russia requires perseverance. But the time is right for Australian tourism and hospitality businesses to achieve significant export deals.”

Mr Klumov said there is strong export potential in a number of other sectors, including consumer goods, education and training, building and construction, health and medical, food and beverage, ICT, professional services, mining and minerals, and tourism and hospitality.

Indicators of Russian economic opportunity (all statistics sourced from DFAT)

• Almost 1 million square metres of retail space is under construction in the Moscow area alone.
• Russia’s GDP per capita will pass the critical US$10,000 per annum mark for the first time this year, and is expected to reach US$15,000 by 2010.
• Russians’ personal disposable incomes are increasing by 25 per cent per annum.
• Russian retail sales grew by 25 per cent in 2004, making it the 12^th largest retail market in the world, soon to overtake Spain, Mexico and Brazil.
• Russia is the world’s largest energy exporter (valued at $145.89 billion in 2004)

Seminar details:

Seminar participants will hear speakers from companies already succeeding in the Russian market, learn how to do business in Russia, and also find out about Australian Government assistance for exporters available through Austrade.

Companies of all sizes are invited to attend these free sessions, to be held in:

• Perth, on Tuesday 21 February from 8.30am
• Adelaide, on Wednesday 22 February from 8.30am
• Melbourne on Thursday 23 February from 8.30am
• Brisbane, on Friday 24 February from 8.30am
• Sydney, on Monday 27 February from 8.30am.

For further information or seminar registration, contact Austrade Direct on 13 28 78 or visit www.austradeevents.com.au/russia

Related News Stories: