From the Moscow Times, a fairly independent (NOT in Moscow based) internet newspaper:
The impact is already visible. In January, total Russian spending on tax-free purchases abroad fell 43 percent in Spain, 54 percent in Greece and 56 percent in Italy compared to the same period in 2014, according to tax refund company Global Blue.
These numbers reflect both the falling number of Russian tourists and a decrease in spending among those who do travel. Tour operators have also seen Russians tightening their purse strings: Revenues per Russian passenger have fallen 27 percent to an average of $720-$730, according to TUI's sources, Vucelic said.
Among EU countries, Greece, Spain and Italy have the most to lose. Greece boasted nearly 1 million Russian tourists in the first nine months of 2014, followed by Spain with 883,000 and Italy with 635,000, according to Russia's Federal Tourism Agency. Germany, France and the Czech Republic were close behind.
