Russia has developed a lending program for the tourist industry

The Ministry of Economic Development has prepared a program for concessional lending to the tourism industry. Deputy Prime Minister Dmitry Chernyshenko spoke about this.

The Russian Federation has developed a lending program for the tourism industry

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Minister of Economy Maxim Gennadyevich Reshetnikov is doing a lot of work. It uses serious tools to support and develop business for the tourism industry. We are already hearing a response. For example, a special financial product has been prepared with a loan term of up to five years, with a maximum loan amount of up to 50 million and a rate of 5% for the tourism business,” he said during the meeting.

According to Dmitry Chernyshenko , the new programs will also affect the international block for building contacts with friendly countries in order to increase the mutual tourist flow.

“Last year, Mikhail Vladimirovich, you also introduced zero VAT for hotels. All this and much more has become an incentive for the development of the service sector in the tourism industry. I would like to note that the comprehensive decisions of the Government to support the tourism industry ensure a positive growth in the number of rooms. This despite all challenges. So the tourism economy is growing and even outpacing the country's economy as a whole,” he concluded.

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