Economic efficiency of investments in the tourism industry of the Republic of Kazakhstan

Abstract

The article examines the mechanisms of attracting investment for the effective development of the tourism industry in the Republic of Kazakhstan and the issues of consolidation of investments in the industry, determines the prospects for development by analyzing the current situation. The efficiency indicators of the investment process in the tourism industry of the Republic of Kazakhstan were studied, and the consequences of the COVID–19 pandemic were considered. Taking into account the latest trends in the economy and society, the conditions necessary for the recovery of the industry were evaluated. The coronavirus pandemic in early 2020 has had a major impact on the state and further development of all sectors of the world economy, including the tourism industry. Such a serious crisis in the tourism industry has not been observed since the second world war. However, not every crisis can only lead to negative consequences. The analysis showed the underdevelopment of the tourist infrastructure, the unwillingness of the tourism business to invest in its development, which requires more global investment volumes. The article examines modern realities and innovative challenges of this test, which is important for the entire tourism industry, such as accelerating the digitalization of tourist services, more active implementation of modern technologies, as well as updating the ecological aspect of tourism, expanding the geography of tourist routes throughout the country, etc. The conclusions and suggestions made based on the results of the study can be used in making investment decisions, used as educational and methodological materials in the study of investment processes in tourism.

Travel Company Activities: Comparative Legal Analysis of the National Legislation of the Central Asian Countries

“…In addition, among the regulations that contributed to the improvement of the legal framework for regulating the implementation of tourism activities, it is possible to single out the Resolution of the President of the Republic of Uzbekistan No. PP 3217 "On priority measures for the development of tourism for 2018-2019" 27 . This Resolution determines the main development vectors for the tourism sector, as well as the improvement of the country's economy and the improvement of other spheres of people's lives, on which the tourism sector has a direct impact.…”