The Pepublic of Buryatia is located in the southern part of Eastern Siberia, bordering Mongolia in the south. On the territory of the republic there is a large part (about 60% of the coastline) of Lake Baikal — the deepest freshwater lake in the world.

The Republic of Buryatia is one of the most promising regions of Russia in terms of tourism and recreation potential. The development of tourism is promoted by the convenient geographical location, the richest historical, cultural and natural resources, the established transport system connecting the republic with the regions of Russia and with foreign countries, the stable ecological situation, the peaceful coexistence of religions, and the growing popularity of Lake Baikal.

The dominant economic activities of the region are:

• agro-industrial complex;
• mechanical engineering;
• processing industry;
• tourism.

In the Strategy of socio-economic development of the Republic of Buryatia, it is proposed to define the ways of development of Buryatia in a complex. Setting clear priorities for the government and business will allow for more effective implementation of the planned plans, and a more rational distribution of forces. There is another factor — the institutional one. The implementation of a number of proposals contained in the Strategy requires not financial resources, but measures of state regulation of social and economic processes, attracting investment in the economy of the republic, creating favorable conditions for investors and business activities, and reducing administrative barriers.