Greek tourism had yet another loss as Russian agency Yuzny Krest Travel filed for bankruptcy, a problem that has now become an “epidemic.”
More than 4,000 of Yuzny Krest Travel tourists are vacationing outside Russia, while most of them are estimated to be in Greece. They may be in need of assistance in order to return home, according to the director of the Travel Agencies Association of Russia.
Apart from the tourists stranded abroad, there are 20,000 more who have booked their holiday through Yuzny Krest Travel and will not be able to travel. The agency justified its decision, stating the dramatic decline in the demand for travel services.
Yuzny Krest Group was founded in 1998. It is considered one of the top ten travel agencies in Russia and has two companies, Yuzhny Krest Travel and Romanov Club Luxury Travel. The first books tickets and hotels, while the second organizes luxury holidays mainly in Greece, Indonesia, the Dominican Republic, Cuba, the United Arab Emirates and Thailand.
At the moment, thirteen Russian tourist agencies have declared bankruptcy. Just last Monday, Solvex Tour also filed for bankruptcy, resulting in 3,000 Russian tourists being stranded in Greece.
The consequences of this “epidemic” will greatly affect Greek tourism. It is estimated that Greece will lose almost 7 million euros due to the successive travel agency bankruptcies in Russia.
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