The Resorts of the North Caucasus (RNC) State Corporation has managed to invite $3.3 billion and 77 billion rubles of foreign and Russian investments for the starting stage of the tourism project, ITAR TASS reports.
Senator Ahmed Bilalov, CEO of the RNC, said it is the first Russian example of such high achievements in realizing such a complex infrastructure project of federal purpose. The CEO believes that the project is exceptionally attractive for investors because it involves construction of infrastructure in several regions of Russia from scratch. State guarantees and tax benefits provided by law on amendments to the federal law on special economic zones of Russia and other legal acts affecting the local tourism cluster. This shows that the government wants to share risks in realizing tourism initiatives in Russia’s south. The idea and its realization have been recognized by experts. The project received the golden award at the MIPIP Asia contest as best future project.
The Russian tourism cluster in the south includes construction of a few new world-class skiing resorts: Lagonaki (Krasnodar region and Adygea), Arkhyz(Karachaevo-Cherkessia), Elbrus-Bezengi (Kabardino-Balkaria),Mamison (North Ossetia) and Matlas (Dagestan). The skiing routes will have a total length of 898 km, they will have 179 elevators, hotels with 89,000 rooms, accomodating 150,500 visitors daily. It would create over 330,000 jobs in the region.
