High Growth of Tourism Rate Is Mainly Due To The Low Base Effect of 2020 – TBC Capital
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TBC Capital published a report. According to the report, international tourist trips went up by 286.8% YoY in June, significantly higher compared to the 188.1% YoY increase in the previous month.
According to the research-consulting company, the surge in annual growth rate was mainly on the back of the low base effect, recovery is still apparent in the last months when compared to 2019 levels. Following an 83.1% decrease in May compared to the same month in 2019, tourism arrivals displayed a 79.8% decline in June 2021.
According to the research, from the regions perspective, the number of tourists coming from the EU decreased by 81.9% compared to the corresponding month of 2019, following an 88.5% decline in May. At the same time, the dynamics of recovery is observed from the CIS countries as well. After an 88.1% decline in May, the number of international visitors in June fell by 84.5% compared to 2019. In inflow terms, the recovery was likely even more sizable.