Russians spend 40 percent less on intl vacations than last year

Russians who went abroad on New Year vacations spent 40 percent less this year than they did in 2014, according to a survey of transactions by VTB24 bank customers.

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Russians who went abroad on New Year vacations spent 40 percent less this year than they did in 2014, according to a survey of transactions by VTB24 bank customers.

"Card transactions of VTB24 customers stood at 1.6 billion rubles ($25 million) during the 2015 New Year's holiday season or 40 percent less than in 2014 and 17 percent less than in 2013," the survey said.

Russians mostly spent their money in Italy (198.5 million rubles - $3 million), France (147.6 million rubles - $2.3 million) and the United Arab Emirates (135.1 million rubles - $2.1 million). Austria replaced Finland and ranked fourth (104.7 million rubles - $1.6 million). The United States came fifth with Russians spending 93.4 million rubles ($1.4 million).

Ruble-priced spending per tourist has grown but its hard currency equivalent has gone down, the survey said. While hard currency spending reduced ruble-priced expenditures of Russians went up. A total of 4.8 billion rubles ($74 million) were spent during New Year holidays in 2014 and the indicator stood at 6.3 billion rubles ($97 million) in 2015.

Read more: Russia sees boost in Asian tourism as Europeans and Americans turn away>>>

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