Articles tagged “sanctions”

Fancy a trip to North Korea's seaside resort town?

Cuba eyes Russia not only for economic and diplomatic support, but also as a key player in reviving its tourism sector.

Thailand needs tourists and Russians need to travel. The equation seems to have worked out pretty well so far for the two countries.

Airbnb's revenue stream wasn't as internationally diverse in the second quarter as it was pre-pandemic, but it is slowly creeping back to that level as international markets open.

Sanctions be damned, destinations like Dubai and Maldives continue to welcome an inflow of Russian rubles to their tourism economies.

The global travel industry is split over doing business in Russia, although the vast majority of companies are abiding by the relevant economic sanctions. Moral outrage, self-interest, and disparate views over harming ordinary Russians are clashing big time.

Mordashov's resignation from the TUI Group supervisory board has to be a tremendous relief to the world's largest tour operator, which can now in large part get on with its business. However, there is a substantial hangover: With his shares frozen, Mordashov still remains TUI Group's largest shareholder.

How will TUI Group respond to the European Union's sanctions against the tour operator's largest shareholder? The issue goes beyond any potential financial fallout and becomes one of corporate responsibility and the integrity of the TUI Group brand.

Does TUI Group really want to be associated with a Russian oligarch who sits on its strategy committee and who is close to and allied with Putin during Russia's invasion of Ukraine? That sort of publicity could hammer the company's reputation and its customers won't take the news well.