The Ministry of Economic Development of Russia has approved a proposal to reduce the amount of money that travel agencies should have on their accounts as a guarantee of their activities when sending tourists to Turkmenistan and a number of other CIS and Caucasus countries. This is reported by Profi.Travel.

The initiative will help stimulate the development of outbound tourism to these states and reduce the financial burden on tour operators. Now travel agencies should have at least 5 million rubles on their accounts, and according to the new idea they will be able to have at least 500 thousand rubles.

With the amendments to Russian legislation, it is also expected that travel agencies will most likely not be required to enter data about their customers into a special system that monitors tourist activity until September 1, 2024.

It will also make their business more stable and profitable, according to experts from the tourism industry who spoke at the First International Congress of Tour Operators in the Russian Federation.