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Some Russian Businesses Thrive in Poor Economy 一些俄罗斯企业在贫困的经济环境中茁壮成长
MOSCOW—
Capital flight, the fall in oil prices and Western sanctions are pushing Russia's staggering economy into recession. But not all business in the country is suffering.
The Russian ruble's sharp drop in value benefits exporters by lowering costs at home. Those who import, like Swedish retail1 giant IKEA, are suffering higher costs. IKEA imports about 40 percent of what it sells in Russia and is considering raising prices to make up for the loss.
But businesses that focus on frugal2 customers, like High Level Hostel3, are doing well. As part owner Roman Drozdenko said, "It is only natural that businesspeople now, when businesses are trying to cut expenses, are moving on to hostels4."
Drozdenko said the hostel’s unlikely location — on the 43rd floor of the Moscow International Business Center, known as "Moscow City" — was only possible because of the lack of interested tenants5.
" 'Moscow City' is only 30 percent full. There are a lot of empty spaces here. So, I think that is what ... allowed us to come here."
Despite investment fleeing Russia, and a glut6 of office space, construction of new skyscrapers7 continues.
Russian authorities are putting their best spin on the economic tumble, saying sanctions, including their own ban on Western food imports, will spur domestic industries.
The economic gloom did not stop the opening of the world's largest artificial ice-skating rink last month in Moscow.
"In fact, a lot of Muscovites will not travel abroad during the coming New Year holidays, and some will visit the skating rink. That means the Russian money will remain in Russia," said Irina Gordina-Nevzhmetskaya, deputy general director of the All-Russia Exhibition Center.
The sinking ruble means international travel is more expensive for Russians. Now that a recession is expected, many are beginning to worry about the economy and just how much further it will slide.
1 retail | |
v./n.零售;adv.以零售价格 | |
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2 frugal | |
adj.节俭的,节约的,少量的,微量的 | |
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3 hostel | |
n.(学生)宿舍,招待所 | |
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4 hostels | |
n.旅舍,招待所( hostel的名词复数 );青年宿舍 | |
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5 tenants | |
n.房客( tenant的名词复数 );佃户;占用者;占有者 | |
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6 glut | |
n.存货过多,供过于求;v.狼吞虎咽 | |
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7 skyscrapers | |
n.摩天大楼 | |
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