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Kuban resorts plan to attract more than 200 billion rubles of investment at SPIEF-2023

Apart from the health and resort sector, negotiations are underway with potential investors in such industries as the agro-industrial complex, the financial sector, and communications.

The authorities of the Krasnodar Territory at the upcoming St. Petersburg International Economic Forum (SPIEF) are planning to conclude agreements worth 200+ billion rubles for the development of resorts in the region, which will increase the industry's investment portfolio to 500 billion rubles. Vice-Governor of the Krasnodar Territory Alexander Ruppel informed TASS on Thursday.

«We expect a record volume of investments attracted during this year’s forum. We are planning to sign agreements amounting to 200+ billion rubles. This way, industry's investment portfolio might exceed 500 billion rubles. For comparison, in 2019 it was 20+ billion rubles,» Ruppel said.

Apart from the health and resort sector, negotiations are underway with potential investors in such industries as the agro-industrial complex, the financial sector, and communications.

It was reported earlier that the authorities of the Krasnodar Territory, which is one of the main resort regions in Russia, were planning to have another 28 thousand hotel rooms by 2030 due to attracting investments. In 2023, 10.7 thousand hotels and guest houses with a total capacity of 260 thousand rooms will host tourists in the region. The region boasts a number of preferences for the development of the resort sector: for example, housing construction in the 500-meter zone from the sea is prohibited, 10-year tax benefits are provided for new properties, hoteliers are compensated for part of the interest on loans for reconstruction and modernization.

In 2021 and 2022, the Krasnodar Territory concluded more than 50 agreements at the SPIEF in various sectors of the economy worth 365 billion rubles. The SPIEF is the largest economic forum in the Russian Federation, which is set to take place on 14–17 June.