The session "The North as a Point of Growth: Unlocking the Investment Potential and Prospects for tourism development in Russia's Arctic Cities" was held in Moscow as part of the international travel forum "Travel!", where Artem Kuksa, CEO of the Murmansk Region Development Corporation, presented promising investment lots in the tourism sector developed by the regional government team.
At the site, experts discussed the importance of the Arctic regions in the development of the tourism industry. According to Irina Zhuikova, Moderator and Director of the Department at MMC Norilsk Nickel, the Russian Arctic is showing a dynamic increase in interest from private capital, and the emerging tourism market in the North is creating a unique window of opportunity for investors. The increasing tourist flow, the demand for outdoor activities and local experiences, and government support for infrastructure solutions all make the Arctic a point of attraction for strategic investments.
"There is still a chance to gain a strong position in tourism in the Arctic region by implementing investment projects with significant growth potential. Examples from the HORECA sector, the development of tourism operators and the growing interest in new services prove the high profitability of investments. Now is the optimal time to enter the market: competition is increasing, and leaders are currently being formed who will determine the future of Arctic tourism," Irina Zhuikova said.
Today, a significant proportion of all Arctic tourists come to the Murmansk Region: in 2024, about 761 thousand people visited the Kola Arctic. At the same time, investors are increasingly interested in the region's opportunities: projects aimed at creating high-quality services and infrastructure for tourists predominate in the region's portfolio, but there are still free niches. Artem Kuksa, Director General of the Murmansk Region Development Corporation, told about this at the session.
"The Russian Arctic is acquiring the status of an ultra-fashionable tourist destination. Travelers tend to visit our region to enjoy the northern exotics, admire the northern lights, relax and watch whales. The Murmansk Region is the most accessible part of the Arctic, with a rich history, stunning natural landscapes, and convenient transportation. Its climate is more favorable compared to other Arctic regions, and the variety of attractions and recreational opportunities makes the region especially attractive to tourists," said Artem Kuksa.
As part of his presentation, the government team spoke about the options for possible projects in the field of tuzima, in the implementation of which investors can rely on government support measures. Thus, as part of the strategic plan "Live in the North!" in the Murmansk region, it is planned to implement projects to create hotels in Murmansk, tourist complexes in secluded corners of the Kola Region and hotels in locations that are already gaining popularity among tourists.
"In fact, the proposals that we are voicing are a chance for businesses to enter the region before competition becomes too high and take their place in a market where there is a solvent tourist all year round. The Murmansk Region Development Corporation has extensive experience in supporting investors and is ready to help implement projects aimed at developing high–quality tourism infrastructure, as well as projects in other areas of the economy, free of charge," said Artem Kuksa.
To learn more about the investment proposals of the Murmansk region in the field of tourism, please contact our specialists. Murmansk Region Development Corporation. Contact details and information about the economic potential of the region are available on the Investment Portal of the Murmansk Region.
The international travel forum "Travel!" is being held in Moscow at VDNH from June 10 to 15. The format of the event combines the forum as a platform for business communication between government and business at the highest level and Russia's first tourist festival for travelers. The delegation of the Murmansk Region is headed by Svetlana Panfilova, Deputy Governor and Minister of Arctic Development and Economy of the Murmansk Region.
/ Murmansk Region Development Corporation /
Photo: press service of PJSC MMC Norilsk Nickel.