Tourism, Industrial Exhibitions, and Trade Fairs in the Russian Far East: Strategic Assessment of the Potential for Development

Abstract

The Russian Far East possesses an enormous natural and economic potential, however, its sectoral structure is represented mainly by extractive and manufacturing industries. Certain limiting factors impede the economic development of this microregion and the implementation of its strategic development priorities. Tourism and exhibition and trade fair activities are the largest inter-industry complexes with a significant multiplier effect on the local strategic goals. The research featured tourism and exhibition and trade fair activities as both interconnected and independent complexes that stimulate the economic growth, increase employment, and improve the quality of life in the Russian Far East. The authors assessed the regional potential for tourism, recreation, exhibitions, and trade fairs based on all resources available, their territorial combinations, the local economic turnover, and the needs of the local population and tourists. The analysis provides a comprehensive and systematic solution to such major issues as economic diversification, emigration, long-term economic growth, and the quality of life in the region. If the sphere of tourism, exhibitions, and trade fairs acquires substantial state support, the microregion will be able to implement a number of breakthrough projects in these industries. The Russian Far East will be able to meet the goals of its strategic development only if the federal and local authorities realize the socio-economic importance of tourism, industrial exhibitions, and trade fairs.