The Far East Development Corporation (FEDC) took part in a round table discussion on investment in tourism infrastructure and economic development of the Arctic regions, which was held during the VI International Arctic Summit Arctic: Prospects, Innovations and Regional Development. The event was organised by the Expert Council of the Arctic Development Project Office (ADPO).

Maria Badmatsyrenova, deputy director of the Department of law enforcement monitoring of the AZRF, talked about the opportunities for investment in the hospitality sector in the territories of the AZRF and measures to support projects in the tourism industry. She noted that the residents of the AZRF adhere to the trend for the development of domestic tourism. The advantages of the macroregion, such as its unique nature and cultural peculiarities of small peoples of the North and Arctic cuisine, contribute to this.

‘We have special measures to support business, which makes the macroregion the best in Russia for the implementation of projects from an investment point of view. The preferences provided to residents are a key factor to start unlocking the tourism potential of the largest region in the country, improve the quality and variety of recreation and make the Russian Arctic a powerful magnet to attract travel enthusiasts from all over the country. Tourism is the basis for the development of the service sector, which is characterised by a large volume of human resources and socio-economic effect,’ said Maria Badmatsyrenova.

According to statistics from FEDC, in the Russian Arctic, 20% out of 432 projects under the preferential regime of AZRF relate to the tourism sector. Murmansk Region (63 projects), the Republic of Karelia (15 projects) and Arkhangelsk Region (12 projects) hold first place in the number of projects. Investments in new tourist clusters, sports and recreational and ski resorts with panoramic restaurants, hotels, year-round tourist centres for fans of active recreation with an integrated package of services, modern roadside service facilities with quality food and glamping exceed RUB 35 bn. Full implementation of these projects will give regions more than 1,500 new jobs in the hospitality industry.

The round table meeting titled ‘Tourism as a driver of economic development in the Arctic’ was held with the participation of representatives of regional authorities, the Russian Geographical Society, scientists and heads of major Russian travel companies.