The tour operators won’t find an increase in the amount of financial guarantees required by the state a big blow on their finances. However, some smaller tour operators will have to become simple travel agents,’ the Director of Mouzenidis Тravel Yekaterinburg representation Olga Ganiyeva told UrBC.

The prospective changes in the tourist legislation will make it obligatory for tour operators whose annual turnover falls short of 500m RUR to ensure financial guarantees of 100m; companies whose turnover comes to more than 500m RUR a year and over 1bn RUR a year will have to provide 200m RUR and 200m RUR plus 5% off every next 100m RUR worth of financial guarantees, respectively.

‘At any rate, the new development is not going fully to protect the travelers. If one looks at Capital Tour’s bankruptcy, for example, one will see that even an increased financial guarantee would only provide compensation for a few more scores of customers. It wouldn’t help pay the money back to all the unhappy tourists,’ Ms Ganiyeva explained.

Until very recently, Olga Ganiyeva was the head of Capital Tour’s Yekaterinburg representation.