Russia has sanctioned agricultural imports from Europe, and this is not the only fallout from its conflict with Ukraine. The crisis has had collateral effects on other sectors such as luxury goods sales to Russian tourists.
A weak ruble and political instability between Russian and Ukraine are keeping Russian tourists out of Europe and threatening sales of luxury goods in Spain and elsewhere in Europe. In Q1 2014, the number of Russian tourists coming to Spain fell 4.5% and summer travel figures are not looking good either, which is not good news for a nation that pays its bills with the tourism sector.
