Almost 18,000 civilians evacuated from areas of Aleppo controlled by militantsWorld December 10, 7:41
Russian swimmers win 11 sets of medals at FINA World Swimming Championships (25 m)Sport December 10, 7:00
Shiveluch volcano in Russia’s Far East spews ash to 11 km in airWorld December 10, 5:28
Ceasefire agreements enter into force near Damascus, in Idlib province ― mediaWorld December 10, 4:18
Russian pair Tarasova/Morozov win final of ISU Grand Prix of Figure Skating in MarseillesSport December 10, 4:00
Matviyenko to visit UAE to participate in Forum of Women Speakers of ParliamentRussian Politics & Diplomacy December 10, 3:21
Doping samples of all athletes from past three Olympics should be re-analyzed ― lawmakerSport December 10, 2:01
Russia’s figure skater Medvedeva leads with world record after SP at Grand Prix finalsSport December 10, 1:28
Russian energy minister expects OPEC, non member countries to sign agreement on oil outputBusiness & Economy December 10, 0:46
MOSCOW, March 13, /ITAR-TASS/. The Russian economy may get even more benefits from investing in Crimea’s tourism industry in the long term than into large-scale transport projects, rector of the National Research University - Higher School of Economics professor Yaroslav Kuzminov told Itar-Tass on Thursday.
He spoke of economic prospects of Crimea that plans to hold a referendum on accession to Russia on March 16.
Modernisation of Crimea’s travel industry requires heavy investments, Kuzminov says, adding that the source for such investments “can be only national savings that in any case should be retargeted from transport projects that have already been announced.”
“It is rather difficult to compare economic effects. Nevertheless, I would risk to say that Crimea is the best solution from the point of view of the long-term development of the Russian economy, even if we compare this with a big transport ring around Moscow or expansion of railroads in Siberia,” he said.
According to Kuzminov’s estimates, Russia’s middle class spends 27,4 billion US dollars per year for holidaying abroad.
“It is quite a reasonable task for 2020 to retarget the domestic effective demand for the Black Sea coast (Crimea and Sochi) just by 30% ,” he said, noting that “inevitable reduction of the rouble’s purchasing capacity will increase attractiveness of ‘domestic’ resorts, if they provide minimally acceptable quality of services.”
After the collapse of the Soviet Union the obvious place of Crimea in Ukraine’s economy and in Russia as a resort capable of accommodating 10 million travellers a year turned out to be non-demanded and was substituted by Mediterranean resorts, Kuzminov said. He named among reasons weakness of Ukraine’s economy, first of all of its budget and effective demand, and practically an absolute lack of property protection.