Krasnodar Krai Booms as Tourism Surges with Record Investments
Millions of tourists flock to Krasnodar Krai each year, with several districts seeing significant increases this summer. The region's tourism industry has received substantial support, with over 900 million rubles in subsidies and abolished tourist tax. The government aims to make travel safe, comfortable, and affordable for all.
Over the past decade, investments in the resort industry in Krasnodar Krai have surged by over 100 times. Currently, 73 large investment projects worth over 844 billion rubles are underway. Last year, tourists made over 90 million trips within Russia, with Sochi hosting 6.5 million tourists since the beginning of the year and an average hotel occupancy of 78.8% for nine months. To accommodate this growth, airport complexes are being built, highways expanded, and passenger services on railways improved.
The share of the tourism industry in GDP is targeted to reach 5% in the next five years. Russian Prime Minister Mikhail Mishustin held a strategic session on October 7 to discuss tourism development. With continued investing and infrastructure improvements, Krasnodar Krai is poised to remain a top destination for tourists.
