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Russia invested $695.7 million in tourism infrastructure

Staff writer |
Over 51 bln rubles ($695.7 million) have already been invested into the tourism infrastructure upgrade and construction from the beginning of the Federal Target Program (FTP) of tourism development, head of the Russian Federal Tourism Service Oleg Safonov said.

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26 regions proactively participated in the program in 2015 and 17 more intend to take part in it this year, the official said.

"This FTP was created on public private partnership principles. 14.3 bln rubles ($195.1 million) have already been invested actually.

"These funds are invested into utilities infrastructure, while private investments are used for development of facilities making possible for the tourism industry to earn money. Over 51 bln rubles ($695.7 million) have already been invested in these 26 regions."

Regional demands of further investments into tourism infrastructure are estimated at 35 bln rubles ($477.2 million), the official added.


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