Expert: It is important to develop tourism-related sectors of the economy

11 july 2017

"The tourism cluster offers lots of opportunities to sole traders and farmers and in a lot of areas work is already underway in the Stavropol region, for example in the catering services and with regards to developing human resources," Nurali Rezvanov, adviser to the Head of the Analytical Center, said, speaking at the Invest in the Caucasus business session that was held in Stavropol.

Participants in the event discussed state support measures and the development prospects of the North Caucasus regions, which have huge untapped potential in a broad range of the sectors of the economy. In recent years the region's been developing at an accelerated pace thanks to an inflow of investments. Russian and foreign entrepreneurs are investing in tourism, agriculture, industry, healthcare and other sectors. What makes the North Caucasus attractive is first and foremost the efforts of the Russian federal government to promote the development of the regional business segment, the experts noted.

"Our goal is to promote cooperation between business, the state support institutions and the regional governments. It's good to know that today we have got both sole traders and farmers at our event. People want to know how to use state support, they have the will to work so we need to help them," Mr. Rezvanov said.

Today one of the most promising sectors in terms of potential growth is tourism and recreation. At the governmental commission for the socio-economic development of the North Caucasus the Russian Prime Minister Dmitry Medvedev instructed the Russian Ministry of the North Caucasus Affairs to develop a strategy for the development of tourism in the North Caucasus through 2035.

Mr Rezvanov is of the opinion it's important to develop tourism-related sectors of the economy. According to Mr. Rezvanov it's a huge untapped market for goos and services in the region and joint efforts are needed to promote a culture of tourism in the North Caucasus.

The event was held with the support of the Russian Ministry of the North Caucasus Affairs and the government of the Stavropol Krai. The Stavropol Krai is the second region in the North Caucasus to host an Invest in the Caucasus business session. The first session was held June 29 in the Republic of Ingushetia.

Photo from open sources