Directions of activation of investment processes in tourism industry

Abstract

Aim. To identify the problems and prospects of tourism investment activity in the conditions of a complex geopolitical situation at the present stage.

Objectives. To define the role of the tourism industry development; to group the targets set for achievement as a result of investment programs implementation; to describe the current state of investment processes in the tourism industry; to identify the most frequently arising problems and to form proposals for their overcoming.

Methods. The author used general scientific methods, including analysis and synthesis, description, as well as methods of structural, system and economic analysis.

Results. The development of the tourism sector is included in the main tasks of integrated sustainable development of the region. In order to activate private investment in the tourism industry, the state program of the Russian Federation (RF) “Tourism Development” has been developed, which specifies the algorithm for achieving the strategic objectives contained in the Strategy of Tourism Development in the Russian Federation for the period up to 2035. The main condition is the creation of an attractive investment environment to ensure the reduction of the payback period of projects and leveling of entrepreneurial risks, an environment that promotes the increase in financing of creative projects for the development of supportive infrastructure. Despite the set tasks and allocated funds, the contribution of the tourism industry to the gross domestic product of the Russian Federation is not significant. The size of public and private investments in the tourism industry does not allow us to talk about the possibility to fully disclose the tourist potential of our country. The article reveals the problems of tourism industry development, offers a typology of legal models of investment projects taking into account their comparative characteristics.

Conclusions. In the conditions of the new geopolitical order outbound tourism along classical directions is practically absent. However, Russia has a huge potential for the creation of powerful tourist zones for domestic tourism. A new tourist map of world tourism is being formed, and it is necessary to form organizational, economic, legal mechanisms for the application of effective investment tourism practices.