Kantserov R.A., Adzhikova A.S., Shkolnikova N.N. FINANCIAL ASPECTS OF TOURISM INDUSTRY’S EFFICIENCY IN KARACHAY-CHERKESS REPUBLIC

DOI: https://doi.org/10.15688/jvolsu3.2017.4.2

Rashid A. Kantserov

Candidate of Sciences (Economics), Professor, Department of Finance and Credit, Director of Institute of Economics and Management, North Caucasian State Humanities and Technological Academy, Stavropolskaya St., 36, 369001 Cherkessk, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. .

Altynay S. Adzhikova

Candidate of Sciences (Economics), Head of Department of Economics and Antimonopoly Regulation, Deputy Director of North Caucasian Institute –Branch of Russian Presidential Academy of National Economy and Public Administration, Dunaevskogo St., 5, 357502 Pyatigorsk, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. .

Nina N. Shkolnikova

Candidate of Sciences (Economics), Associate Professor, Department of Finance and Credit, North Caucasian State Humanities and Technological Academy, Stavropolskaya St., 36, 369001 Cherkessk, Russian Federation, This email address is being protected from spambots. You need JavaScript enabled to view it. .


Abstract. The article reveals the relevance of tourism and recreation complex development for the economy of the Karachay-Cherkess Republic. The authors emphasize that tourism in the modern world is one of the most stable and fast growing sectors of the economy. The main types and forms of tourism and recreation in the region are identified with the purpose of increasing revenues from the tourism industry. Special attention is paid to the quantity and quality of recreational resources of the Republic. The article notes that the Karachay-Cherkess Republic has natural resources, mineral sources, scientific and production resources, cultural and historic resources. The authors give a brief description of some objects of the Karachay-Cherkess Republic attractive for tourism development, in particular the Nizhny Arkhyz historical and architectural complex, the special astrophysical Observatory of the Russian Academy of Sciences, the Sentinsky historical and architectural complex. The article examines the main characteristics of some investment projects “the Gum-Bashi”, “Phia acid sources”, “Abaza yard”, the implementation of which will contribute to the development of the recreational potential of the region. The work studies the role of the state in regulating the tourism industry development. On the example of the state program, the authors demonstrate the basic target indicators of development of the industry in the near future, including the number of tourists, the number of fee-based tourist services, the number of workers employed in the tourism sector, the number of collective accommodation facilities, etc. In conclusion the authors point out the directions of support and stimulation of tourism business development in the Karachay-Cherkess Republic.

Key words: tourism industry, tourism and recreation resources, tourist facilities, investment project, project cost, tourism product, state program.

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FINANCIAL ASPECTS OF TOURISM INDUSTRY’S EFFICIENCY IN KARACHAY-CHERKESS REPUBLIC by Kantserov R.A., Adzhikova A.S., Shkolnikova N.N. is licensed under a Creative Commons Attribution 4.0 International License.

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