Recently Russian federal government agreed to establish several so called “tourist-recreational zones” – popular tourist areas that will have considerable tax breaks. It was done to make those areas more attractive for the investors. I knew Black Sea coast region was one of few zones selected, but I wasn’t sure if Sochi would be on the list, since there is a separate federal program to turn Sochi into year-round resort.

However, today I read in an article on RBC Daily that Sochi’s going to be in one of those zones. According to the article, this Black Sea coast zone will include Sochi, and our neighbours Anapa, Gelendzhyk, and Tuapse region, and will require more investments then other zones in Russia. 181 billion rubles (US $6.8 billion) will be invested into the region (that’s both federal and private investments) over the next 20 years through this federal program. The biggest projects here will be hotel constructions for 110 000 people. The “numbers” are still unsigned plans, however.

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