The Impact of Tourism Development on the Financial and Economic Indicators of Regions

This paper is devoted to investigation of Russian modern tourist market. The topic of tourism development is relevant these days, because tourism industry is one of the most highly profitable in the world and Russia has a great touristic potential. This paper considers the mechanism of tourism economic influence, the result of direct and indirect impact on the region’s infrastructure. Furthermore, different indicators of tourism activity in Russia were analyzed. Some of them for the period up to 2014 inclusive are inbound and outbound tourist flows, the number of travel companies and funding for tourism industry. In addition, reasons of the current situation on Russian tourism market were the subject for analysis, as well as the government's role in regulations to improve competitiveness of the country on the international market. Using statistical data of Federal Agency of Tourism and Federal State Statistic Service across Russian regions for the past 2014 (85 observations) in order to determine the significance of influence of basic indicators of tourism activity on the amount of sales of tourist services. In spite of the fact, that Russian’s tourist centers (Moscow, St. Petersburg and Krasnodar region) significantly stand out comparing with other regions it was decided not to exclude them from the sample in order to make an analysis with features specific for Russia. As determinants were: average income per capita, average size of travel companies, the number of sights per region, hotel's mean income for one tourist per one day, tourist's preference indicator in choosing the size of the hotel and rating of the suitability of the region for the organization of the sea beach tourism. All determinates are significant at a 5% level. Analysis of outcome coefficients allows to confirm some of hypothesis and make a conclusion about tourist’s preferences.