"Half a world away from snowy Moscow, Russia’s deepening economic crisis is reverberating upon the palm-fringed beaches and castaway islands of Thailand. The droves of holidaymakers from Russian cities visiting Thai resorts are dwindling, deterred not so much by the southeast Asian nation’s military coup earlier this year as by the rout of the rouble.
As the chart below shows, Russians seeking a warm refuge from the prolonged winter of home were relatively unfazed in early 2014 by the mounting political tensions in Thailand that led to the May military coup.
They flocked to favoured resorts such as Pattaya and Phuket during January, February and March, with year-on-year visitor increases in those months rising 26 per cent, 21 per cent and 8 per cent respectively. This hardy attitude was in contrast to that of tourists from other parts of the world, many of whom decided to stay away in early 2014 (see chart).
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