VTB records growth, Sberbank says only a fall in the rate of decline.
Compared to the same period last year, foreigners' spending in the Russian Federation is now recovering.
According to Sberbank, the overall decline in January was about 15%, while in April last year it was at 74%. At the same time, according to VTB, there is not only a recovery, but also an 11 per cent increase in spending. The Russian Standard network said only a drop of 54% compared to January 2020.
Alexei Kirichek, vice president and head of VTB's acquiring department, told RBC that although the Russian border remains closed for most foreign tourists, foreign students, employees of international companies and migrant workers are still returning to the country.
Photo: from open sources