Tourism in Russia is more than tourism. Sochi Forum to address the industry’s potential

Participants in the business session ‘How to Develop Tourism: Changing the Way Investment Decisions in the Sector Are Made’, which will be held on 14 February at the Russian Investment Forum in Sochi, will discuss the potential for the development and growth of the Russian tourism industry.

Tourism is currently among the most promising areas for Russia’s socioeconomic development and has the potential needed to be actively developed.

Russia has been improving its ranking in global tourist ratings with each passing year. This is due, among other things, to Russia hosting major annual economic forums (the St. Petersburg International Economic Forum, Russian Investment Forum in Sochi, and Eastern Economic Forum in Vladivostok) as well as other large international events (Winter Olympic and Paralympic Games, stages of the Formula One World Drivers’ Championship, and the World Cup), which have all been held in accordance with the best international standards. In 2019, the targeted federal programme for the development of domestic and inbound tourism will take effect. Efforts need to be united to enhance the competitiveness of Russian tourism and create a unified model for managing the industry at all levels of government with the active involvement of market players.

«Our job is to reveal and fulfil Russia’s potential as much as possible. Russia should become a country whose name comes to a foreign tourist’s mind first when he/she thinks about going abroad. A country where citizens gladly show uncharted corners to children and plan their upcoming vacation in a neighbouring region and not in a neighbouring country. Of course, this won’t happen overnight, but it can happen and it should», Federal Tourism Agency Head Zarina Doguzova said.
How can we ensure a new quality of investment decisions are made in tourism? Should the government change its approach to attracting investments? And what approach should be taken to evaluating tourist destinations when making investment decisions? These questions will be discussed by representatives of the federal government and tourism industry leaders during the panel session ‘How to Develop Tourism: Changing the Way Investment Decisions in the Sector Are Made’.Panellists will include: Russian Deputy Prime Minister Olga Golodets, Governor of the Vologda Region Oleg Kuvshinnikov, President of the Russian Chamber of Commerce and Industry Sergey Katyrin, and Rosa Khutor General Director Sergey Bachin, among others.