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Russian spending in British shops has fallen by nearly a fifth last month amid political tensions over Russia's annexation of Crimea, its standoff with Ukraine and a slide in the value of the rouble.
Russian shoppers are among the biggest foreign spenders in the UK, splashing out on average £669 per transaction, a survey by Global Blue found. However, the fall in spending in February compared to the same month in 2013 saw them slip to fourth place behind Nigeria.
Many UK luxury retailers would stand to suffer from the decline in Russian custom as they have brought in services to cater for them, like Russian-speaking staff and private opening hours.
Experts told HuffPostUK that further tensions over the Ukraine crisis would hurt UK businesses, especially those in the capital.
Shruti Tripathi, associate editor of LondonlovesBusiness.com, said: "From Russia’s richest man Alisher Usmanov to Warner Music owner Leonard Blavatnik, Russians rule the UK’s list of the richest business tycoons.
"Therefore the news that Russian spending in London down 17% since Ukraine crisis is worrying, as Russians have always been major contributors to all London sectors from property to finance.
"If the Ukraine crisis and sliding rouble persists, London is at a risk of losing out on the 70 Russian companies and business tycoons pouring money in the capital."
Vince Mitchell, professor of consumer marketing at Cass Business School, said: “A drop in Russian shoppers in London would not only be a financial blow to the UK but could also weaken confidence in the country’s fragile economic recovery. In particular, luxury goods retailers are likely to be hardest hit if Russian consumers choose to boycott goods from countries supporting the Ukraine."
Rising political tensions have led to warnings from politicians that the international community could slap Russia with further sanctions, with prime minister David Cameron suggesting that this could hit oligarchs like Roman Abramovich.
Russian and Ukraine Standoff
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(01 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (C), commander of the Ukrainian military garrison at the Belbek airbase, leads his unarmed troops bearing the Ukrainian and regiment flags to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(02 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (C), commander of the Ukrainian military garrison at the Belbek airbase, leads his unarmed troops bearing the Ukrainian and regiment flags to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(03 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Troops under Russian command fire weapons into the air and scream orders to turn back at an approaching group of over 100 hundred unarmed Ukrainian troops at the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(04 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Troops under Russian command scream orders to turn back after firing their wepaons into the air at an approaching group of over 100 hundred unarmed Ukrainian troops at the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(05 of25)
LUBIMOVKA, UKRAINE - MARCH 04: A soldier under Russian command warns anyone approaching further that he will shoot them in the legs after he and colleagues fired their weapons into the air and screamed orders to turn back at an approaching group of over 100 hundred unarmed Ukrainian troops at the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(06 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (C), commander of the Ukrainian military garrison at the Belbek airbase, and a colleague bearing the regiment flag, confront troops under Russian command occupying the Belbek airbase in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(07 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (C-R), commander of the Ukrainian military garrison at the Belbek airbase, and a colleague bearing the regiment flag, confront troops under Russian command occupying the Belbek airbase in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(08 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (R), commander of the Ukrainian military garrison at the Belbek airbase, speaks to troops under Russian command occupying the Belbek airbase in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(09 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Troops under Russian command stand firmly after firing their weapons into the air and screaming orders to turn back at an approaching group of over 100 hundred unarmed Ukrainian troops at the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(10 of25)
LUBIMOVKA, UKRAINE - MARCH 04: A soldier under Russian command restrains a colleague after he fired his weapon into the air and screamed orders to turn back at an approaching group of over 100 unarmed Ukrainian troops at the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(11 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Unarmed Ukrainian troops bearing their regiment and the Ukrainian flags march to confront soldiers under Russian command occupying the Belbek airbase in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at a garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(12 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Unarmed Ukrainian troops bearing their regiment and the Ukrainian flags march to confront soldiers under Russian command occupying the Belbek airbase in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at a garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(13 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (C), commander of the Ukrainian military garrison at the Belbek airbasespeaks with troops under Russian command occupying the Belbek airbase after Mamchor led over 100 of his unarmed, Ukrainian soldiers to confront the occupiers at the airfield in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(14 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Unarmed Ukrainian troops listen to their commander speak before they marched to confront soldiers under Russian command occupying the nearby Belbek airfield in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(15 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor, commander of the Ukrainian military garrison at the Belbek airbase, salutes before leading over 100 of his unarmed troops to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(16 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (L), commander of the Ukrainian military garrison at the Belbek airbase, walks past armed soldiers as he returns after speaking with troops under Russian command occupying the Belbek airbase after Mamchor led over 100 of his unarmed, Ukrainian soldiers to confront the occupiers at the airfield in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(17 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Unarmed Ukrainian troops bearing their regiment and the Ukrainian flags march to confront soldiers under Russian command occupying the Belbek airbase in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at a garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(18 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Unarmed Ukrainian troops rest on the Belbek airfield after they confronted soldiers under Russian command occupying the base in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(19 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor, commander of the Ukrainian military garrison at the Belbek airbase, salutes before leading over 100 of his unarmed troops to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(20 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Troops under Russian command jump down from a truck with orders to shoot to kill anyone who advances further after over 100 unarmed Ukrainian troops confronted them at the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(21 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (C), commander of the Ukrainian military garrison at the Belbek airbase, leads his unarmed troops bearing the Ukrainian and regiment flags to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(22 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (L), commander of the Ukrainian military garrison at the Belbek airbase, leads his unarmed troops to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(23 of25)
LUBIMOVKA, UKRAINE - MARCH 04: A soldier (L) under Russian command watches as a group of ten Ukrainian troops pass to take positions in the airfield control after over 100 hundred unarmed Ukrainian troops marched up the Belbek airbase, which the Russian troops are occcupying, in Crimea on March 4, 2014 in Lubimovka, Ukraine. The Ukrainians are stationed at their garrison nearby, and after spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, their commander Colonel Yuli Mamchor announced his bold plan this morning to retake the airfield by confronting the Russian-lead soldiers unarmed. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(24 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (L), commander of the Ukrainian military garrison at the Belbek airbase, leads his unarmed troops to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Concerns Grow In Ukraine Over Pro Russian Demonstrations In The Crimea Region(25 of25)
LUBIMOVKA, UKRAINE - MARCH 04: Colonel Yuli Mamchor (L), commander of the Ukrainian military garrison at the Belbek airbase, leads his unarmed troops to retake the Belbek airfield from soldiers under Russian command in Crimea on March 4, 2014 in Lubimovka, Ukraine. After spending a tense night anticipating a Russian attack following the expiration of a Russian deadline to surrender, in which family members of troops spent the night at the garrison gate in support of the soldiers, Mamchor announced his bold plan to his soldiers early this morning. The Russian-lead troops fired their weapons into the air but then granted Mamchor the beginning of negotiations with their commander. Russian-lead troops have blockaded a number of Ukrainian military bases across Crimea. (Photo by Sean Gallup/Getty Images) (credit:Getty Images)
Gordon Clark, UK country manager of Global Blue, said: "The unstable situation in Russia has shown its effect on tourism spend this year as the weakening economy leaves shoppers disinclined to travel.
"However, Russia is still one of the top globe shopper markets in the UK as high net worth individuals are drawn to the UK's extensive offer of luxury brands, so businesses should renew their emphasis on strategies to entice these individuals and encourage high level spend."
However, Global Blue said that the long-term forecast was positive for Russian spending in the UK and that spending by visitors from the country was up 16% for the year in 2013.
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