Hospitality spending in Russia rose 12 percent in the first four months of this year, compared to the same period in 2022, according to an analysis of official statistics by the Russian geographer Natalia Zubarevich in Crimea, spending in bars and restaurants more than doubled. Much of that money is poured back into local economies, as sanctions have limited Russians’ ability to travel overseas. Families of those who die collect compensation that can surpass their annual income. Soldiers are sending home salaries that usually outstrip average local earnings several times. Her business has been underpinned by a state-led spending boom that has propped up the national economy despite the swiftest and most far-reaching campaign of sanctions imposed by Western nations in modern history. Amid the constant shocks, she said, people are looking for “a window of opportunity” to secure their income. She has bought two investment properties for herself and brokered the sale of 150 others in the past year. “We in Russia have become accustomed to living in a state of permanent crisis,” said Anna, who declined to use her full name given the political scrutiny. Since the war, the owner had stopped coming to Russia, allowing her client to buy it for roughly 40 percent below its current value. Within weeks, she landed a deal for a stately 18th-century apartment, with parquet floors and high ceilings in the prestigious center of Russia’s former imperial capital of St. After Russia invaded Ukraine, Anna, a Russian entrepreneur, made a snap decision to open a real estate agency, hoping to create a safety net from the economic fallout of the conflict.
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