Annexation effects Crimea’s tourism industry

Global Business

Much has changed in Crimea since its annexation by Russia one year ago. While most people on the peninsula say they support the shift, Western sanctions have had an impact, contributing to widespread inflation and a sense of international isolation. One industry hard hit has been tourism, with Crimean officials reporting total visitors to the region cut in half in 2014. CCTV’s Julia Lyubova filed this report.

Annexation effects Crimea’s tourism industry

Annexation effects Crimea’s tourism industry

Much has changed in Crimea since its annexation by Russia one year ago. While most people on the peninsula say they support the shift, Western sanctions have had an impact, contributing to widespread inflation and a sense of international isolation. One industry hard hit has been tourism, with Crimean officials reporting total visitors to the region cut in half in 2014.CCTV's Julia Lyubova filed this report.

Highlights:

  • According to Crimea’s tourism ministry, Russia’s takeover of the peninsula has changed the shape of the region’s tourism industry.
  • Before March of last year, 80 percent of tourists were Ukrainians. Now the majority of tourists are from Russia.
  • With the inflation that’s followed Crimea’s annexation, hotel and food prices in Balaclava are up, too.
  • Locals are hopeful that once the dust settles, the tourism industry here will once again set sail.