Tour operator Solvex has decided to halt its activities in Russia after a three-decade presence in the country. This move, confirmed by industry players, marks a significant shift for a company that has long served travelers seeking international and domestic tourism experiences.
According to the company, the shutdown stems from a failure to meet all obligations under contracts related to the sale of a tourist product in both foreign and domestic travel markets. The decision was framed as a consequence of unsatisfied commitments, which the management describes as making continued operations untenable in the current landscape.
Solvex informed its customers that details concerning compensation for damages can be found on the Turpomoshch association’s website. Information about insurance-related payouts is expected to be posted by the IC Euroins insurance company. These steps are designed to guide clients through the process of addressing losses and securing any entitled reimbursements.
Dimitar Tsonev, the managing director of Solvex, attributed the closure to the broader global situation that has affected the tourism sector. He noted that the challenges intensified after a February 2, 2023 announcement from the Russian Ministry of Economic Development, which stated there would be no subsidies and no delays in the repayment of unfulfilled tours. Tsonev emphasized that under these conditions, operating tour operator activities in outbound destinations became financially unviable.
Earlier reports also indicated that the tour operator Rus-Tour had declared a cessation of operations. This sequence of events underscores a wider disruption affecting several firms in the travel industry and highlights the precarious nature of outbound tourism in times of economic and geopolitical shifts. The industry observers point to evolving regulatory decisions and market conditions as ongoing factors influencing such strategic moves, with affected customers encouraged to monitor official channels for updates and guidance from the relevant support bodies.