Investors' interest in tourism is shifting from the South Coast to the West and East of Crimea, − Vinogradova

Press Service of the State Council of the Republic of Crimea
16 November 2020

The interest of investors in the tourism sector, and the direction of tourist flow shifted from the South Coast of the Crimea to the Western and Eastern parts of the Peninsula. This trend suggests that new objects and locations are becoming more and more popular, and the demand of tourists "follows" the offers of investors. This was stated by the Chairman of the Committee on budget, financial, investment and tax policy Olga Vinogradova in the programme "Economy" on the TV channel "Krym 24".

Addressing investors who are still considering Crimea as a site for investment, the Member of Parliament advised them to "make decisions and act".

"The territory of Crimea is quite small in comparison with the size of the entire Russian Federation, there is a finite density of objects. Soon, the sites that are interesting for the tourist business will be completely filled and will become a deficit", said Olga Vinogradova, adding that this will naturally enable a refocussing of the tourist sector of the economy to other parts of the Peninsula.

A similar trend, according to the Head of the parliamentary Committee, is observed in agriculture. "Today there is a need to build logistics complexes designed not only for storage, but also for processing agricultural products. Projects for the construction of two centers around Simferopol have already been presented, and the area of vineyards is increasing. All this leads to the modernization of production and the creation of new jobs, an increase in average wages", convinced the Member of Parliament.

Logistics also plays a big role in reorienting investors' interests, believes Olga Vinogradova. Today, there are examples when investors try to get sites not in Simferopol or Yalta, but in Leninsky district, which with the construction of the "Tavrida" highway has become much more accessible in terms of transport links.

According to Olga Vinogradova, as part of the social burden that is mandatory for investors in Crimea, there is a gradation of territories depending on the saturation of investment projects. Municipal territories in this gradation have priority, since they lower the score to the total amount of investment costs. This approach is intended to encourage the investor to determine the sites for implementation not only in the Central part of the Crimea and major cities, but also in the periphery.

Thus, in accordance with the Decree developed by the Ministry of Agriculture of the Republic of Crimea, priority municipalities for agricultural enterprises are Chernomorsky, Leninsky, Belogorsky, Pervomaysky, Razdolnensky, Nizhnegorsky, Krasnoperekopsky, and Sovetsky districts. In construction the Ministry of Construction and architecture of the Republic of Crimea allocates municipalities category "B": cities of Armyansk, Dzhankoy, Krasnoperekopsk, Bakhchisaray district excluding the town of Bakhchisaray, Belogorsk district.

According to Olga Vinogradova, this gradation affects the final decision of the investor and serves as an effective mechanism for regulating the density of new investment projects on the territory of Crimea.


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