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MIL OSI Translation. Region: Russian Federation –

Source: Ministry of Economic Development (Russia) – An important disclaimer is located at the bottom of this article.

Small and medium-sized enterprises operating in the tourism sector received preferential financing in 2023 totaling over 59 billion rubles. This is 64% more than the same figure for 2022, and in comparison with 2019, when the national project “Small and Medium Enterprises” was just launched, an increase of almost five times was noted.

“We note not only the good dynamics of the development of domestic tourism, but also see growth from investors in this area; tourism is becoming one of the fastest growing industries. Today it is important to develop the offer, so increasing the number of rooms is one of our key priorities. Investors can take advantage of a number of support tools within the framework of national projects that are administered by the Ministry of Economic Development. The implementation of projects for the construction of new hotels with support under the national project “Small and Medium Enterprises” will increase the quality of room stock and provide new opportunities for the development of tourism in the regions,” said Deputy Minister of Economic Development of Russia Dmitry Vakhrukov at the “Russia” exhibition.

The leading regions in terms of the volume of attracted funding were Moscow with a total amount of 8.7 billion rubles, the Krasnodar Territory (3.9 billion rubles) and the Novosibirsk region (3.5 billion rubles), as well as St. Petersburg and the Republic of Tatarstan (3.0 and 2.1 billion rubles, respectively). The Top 10 in terms of the total volume of preferential financing received by SMEs in the tourism sector also included the Sverdlovsk and Irkutsk regions (1.8 billion rubles in each region), the Republic of Bashkortostan (1.6 billion rubles), Rostov and Moscow regions (1.6 and 1.4 billion rubles, respectively).

“Entrepreneurs received financial support both through preferential lending programs for the implementation of new projects, and in the form of guarantees and guarantees from participants in the National Guarantee System. 37.4 billion rubles were raised for investment lending, including 11 billion rubles for the construction of new accommodation facilities and expansion of the room stock,” noted Alexander Isaevich, General Director of the SME Corporation.

Measures to support SMEs from the hotel and catering industries are provided within the framework of the national project “Small and Medium Enterprises”. It is supervised by First Deputy Prime Minister Andrei Belousov. Tourism projects also receive support within the framework of the national project “Tourism and Hospitality Industry,” curated by Deputy Prime Minister Dmitry Chernyshenko. For core national projects, for example, there is a program of preferential lending for large hotels and a program for subsidizing the construction of modular hotels.

On February 27, the “Entrepreneurship” themed day was held at the “Russia” exhibition as part of the Forum of National Achievements. Experts discussed achievements in the development and support of entrepreneurship over the past 6 years, and also shared plans and outlined development vectors.

Note; This information is raw content directly from the source of the information. This is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

Please note; This information is raw content directly from the information source. It is accurate to what the source is stating and does not reflect the position of MIL-OSI or its clients.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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