This was the highest outlay in a single month since 2018, when the Bank of Russia began releasing monthly foreign trade statistics. RST head Ilya Umansky described the trend as a "correction in demand after several years of rapid growth." "The strengthening of the ruble against foreign currencies made vacation offers abroad more attractive than domestic ones," he said in a comment published earlier this month. High inflation and an "abnormally cold summer" in central and southern Russia were two other major reasons, he added. Russian tour operators are currently experiencing an "explosive" growth in demand for trips to China's southern Hainan resort, following Beijing's announcement of visa-free travel for Russians, ATOR reported on Tuesday.