Kavkaz.RF will open a travel boutique at the Exhibition of Achievements of National Economy.

The North Caucasus Development Institute will represent the region at the International Tourism Forum "Travel," which will be held in Moscow from June 10 to 14 at the Exhibition of Achievements of National Economy. Kavkaz.RF's travel boutique stand will be a meeting place for tourists with those who shape the key experiences of a mountain vacation—those who build and operate cable cars to the country's highest peaks, tour operators and guides who create breathtaking routes, and artists and artisans who create the region's multilayered image.

The main product will be specially designed tours for the forum from the North Caucasus Mountain Club (NCMC), a subsidiary tour operator of Kavkaz.RF. For the first time, NCMC is entering the scientific tourism niche with a three-day trip that includes a visit to the Baksan Neutrino Observatory and the Terskol Peak Astronomical Observatory. Both facilities belong to the Russian Academy of Sciences. The Neutrino facility is the first and one of only two large-scale underground laboratories in the world for research at the intersection of fundamental physics, astrophysics, and geophysics.

Andrey Yumshanov, CEO of Kavkaz.RF, will discuss the creation of unique tourism products around familiar mountain landscapes at the Forum's plenary session, "Time to Travel: A Diversity of Experiences Accessible to Everyone."

"Tourism development cannot be built indefinitely on infrastructure alone. This approach has its limits. At a certain point, high-quality infrastructure alone is no longer enough for tourists. To attract new people to the North Caucasus, the tourism product must evolve—through new meanings, emotions, and a reassessment of the values ​​that bring people to the region," notes Andrey Yumshanov.

The concept of the Kavkaz.RF stand envisions an open space combining a Caucasus fair and a fashion store. Just like from a real trip, visitors to the exhibition will be able to take home gifts for loved ones and themselves: Ingush ceramics, silk stoles from Chechnya, and designer jewelry from various regions. You can also try on and purchase summer clothing and accessories from the Kavkaz.RF mountain resorts—the legendary Elbrus and the new Mamison. Among the exhibitors will be Slavyanovskaya mineral water, a holder of the "Made in the Caucasus" quality seal.

"This year, we tried to create a vibrant and multifaceted tourist image of the region through graphics, textiles, and ceramics—to give tangible expression to the Caucasian cultural code as we see it, and to remind visitors that the Caucasus is fashionable. The exhibition's main focus is on the works of Nalchik artist Lena Romanovskaya, in which she explores, with good humor, the theme of summer vacations in the native mountains and stereotypical notions of the Caucasus. "We'll be immersing tourists in large macrame string bags designed by Dagestani artist Leyla Babaeva, filled with the most alluring symbols of the Caucasus. A shelf of cups by artist Mila Khatsuk symbolizes Caucasian hospitality with a modern twist," said Tatyana Baeva, Communications Director for Kavkaz.RF.

A mini-lecture session at the stand will bring together ambassadors of the North Caucasus mountain resorts, including guides, photographers, filmmakers, and scientists. At the stand, visitors will be able to listen to lectures by glaciologists about the glaciers of Mount Elbrus, meet Nikolai Piotrovsky, director of the extreme sports film "The Mountains Are Calling," and blogger Daria Sirotina, author of a guidebook to North Ossetia.

Guests will also be able to enjoy a raffle, quizzes, workshops on creating custom notebooks, and plenty of gifts.

Elbrus has launched a loyalty program for resort guests.

Now, every purchase on the website or in the mobile app earns points that can be used to pay for future purchases.

The number of points earned depends on the total amount spent since registering for the program. The more a guest purchases at the resort, the more points they earn. These points can be used to pay for the entire purchase; there are no restrictions, such as only half the purchase being covered with points and the remainder being paid in rubles.

"Based on a tourist experience study we conducted last season, more than 10% of guests noted a discount system or loyalty program as one of the changes they would like to see at the resort," commented Rustam Tapayev, Deputy General Director of Kavkaz.RF.

On December 1, 2025, Elbrus became the first ski resort in the Caucasus to introduce cashback for payments made through the SBP. The promotion was run in conjunction with the National Payment Card System: when purchasing a ski pass on the resort's official website and paying through the Fast Payment System, guests received a 10% refund to their card.

"The launch of the lifetime loyalty program is a continuation of our more flexible pricing policy and another step toward encouraging guests to return to Elbrus more often: after all, vacationing at the resort is becoming not only interesting but also profitable. This is especially true given that points are valid for a long time, over a year: even if a guest only visits the resort once a season, they can use their points without them expiring," explains Marketing Director Olga Kravchenko.

Currently, the program is only available for online purchases of ski passes and walking tickets. Future plans include incorporating services from SEZ residents (instructors, rental shops, cafes, and hotels), as well as expanding the program to other resorts managed by Kavkaz.RF.

The design for eight new trails in the eastern sector of Elbrus has passed Main State Expertise.

This area will be the next step in the development of the resort's eastern sector, which began in December 2025, when the company launched two new cable cars and 5 kilometers of trails. Following a review of Kavkaz.RF's design and estimate documentation, Main State Expertise of Russia issued a positive assessment for an additional 12 kilometers of trails. These include one green, two blue, two red, and three black trails.

The green trail is 2.4 kilometers long and ideal for beginners and those learning. It runs along the ridge where the astronomical observatory is located, just a few dozen meters away. The trail offers views of the Main Caucasus Range, Mount Cheget, and the peaks of Ushba, Shkhelda, and Donguzorun.

Another trail suitable for beginners is the blue one, almost 3.6 km long and up to 43 meters wide. The descent from the trail runs through a cirque, a circular valley-amphitheater, and an observatory is also visible on the left side of the ridge.

The new trails will be serviced by four cable cars, for which Kavkaz.RF received a positive conclusion from the State Geological Inspection (GGE) in the fall of 2024. They will relieve the load on the lifts from the Azau glade and improve skiing logistics: the resort will become a closed, circular area.

The contract for the supply of cable cars was signed with Ruslet, a Russian company that developed the first domestically produced detachable clamp at the request of Kavkaz.RF and other resorts. The development took several years, and now all new Kavkaz.RF cable cars are equipped with domestically produced equipment and software.

The eastern sector is the next major stage of Elbrus' development since 2015, when the third stage of the cable car from Mir station to Garabashi was launched and guests first skied the country's highest slopes. The resort then grew in altitude and is now actively expanding eastward.

The Arkhyz mountain resort is entering its second phase of infrastructure development.

The ski resort, built by Kavkaz.RF, welcomes approximately one million tourists annually, has virtually equalized winter and summer tourist flows, and is now preparing for a major new infrastructure project. Deputy Minister of Economic Development of the Russian Federation Sergey Nazarov and CEO of Kavkaz.RF, Andrey Yumshanov, arrived to inspect the contractors and the team's readiness.

Sergey Nazarov chaired a meeting of the working group on the development of the Arkhyz resort in the Karachay-Cherkess Republic. Participants discussed the construction of a new airport complex, the development of utility infrastructure, the implementation of investment projects, and measures to legalize the tourism industry.

Arkhyz is one of the largest tourism projects in the North Caucasus. Forty-three residents are registered within the resort's special economic zone. The total announced investment volume is 119.2 billion rubles, with the creation of 4,200 jobs. Further development of the resort includes the creation of an additional 30 km of ski slopes and six cable cars.

Now it's necessary to "open" the logistical bottleneck. Currently, tourists reach the gorge via the Mineralnye Vody air hub, a journey that takes several hours. Therefore, special attention was paid during the meeting to the construction of the new Arkhyz airport complex. The project is being implemented under a concession agreement. The new airport will be built in the Zelenchuksky District of the Karachay-Cherkess Republic, a half-hour drive from the resort. Its capacity will be up to 1,000 passengers per hour. Estimated passenger traffic by 2032 is up to two million people per year.

"Today, we face the task of synchronizing the implementation of all projects that affect the development of Arkhyz. This concerns not only the construction of new resort facilities, but also the development of transport and engineering infrastructure, the creation of accommodations, and the improvement of the quality of tourist services. The expansion of the resort and the construction of the airport must proceed in parallel—these are interconnected projects that will determine the further growth of tourism and investment activity in the region," noted Sergey Nazarov.

The resort is preparing for the second phase of large-scale infrastructure construction, including cable cars and trails. The general contractor and equipment suppliers have been selected, and financing agreements have been signed. Construction, installation, and preparatory work are already underway on site. The Russian company Ruslet will supply the cable car equipment, as it did at Elbrus.

Arkhyz is important to us as a model resort, where the government's idea of ​​attracting investors to established basic infrastructure in a completely different quality and quantity than to a "blank field" was first realized. The resort is actively developing and has become a vibrant part of Mantera's ecosystem of experiences, where new tourism trends, such as astronomy, are emerging. As we embark on yet another challenging construction project of a new resort from scratch, Arkhyz's example motivates us to overcome all the challenges so that more such integral, beautiful places can emerge," shared Andrey Yumshanov.

A separate section of the meeting was devoted to the legalization of accommodation facilities within the resort and adjacent communities. This work is aimed at increasing the transparency of the tourism market, improving service quality, and ensuring fair competition. Sixty inspections were conducted in the Karachay-Cherkessia Republic, identifying 41 accommodation facilities that were not included in the register of classified accommodation facilities. The owners were issued notices to rectify the violations.

Furthermore, Kavkaz.RF developed master plans for the Arkhyz and Dombay resorts and adjacent areas last year. These proposals are for the integrated development of the area. According to the Arkhyz subcluster's master plan, 10 tourist routes are to be created between the resort, the village of Arkhyz, and Sofiyskaya Polyana, along with landscaping. In Dombay, it is also proposed to implement integrated landscaping, 72 km of tourist routes, and expand the ski area. Seven routes covering 46 km have already been upgraded and certified. The master plans themselves are currently being developed by the Government of the Karachay-Cherkess Republic.

Archive of Heights: Kavkaz.RF Collects the History of Legendary Elbrus.

A research expedition for the "Archive of Heights" project, dedicated to the Soviet legacy of the Elbrus region, took place in Kabardino-Balkaria. The focus was on scientific sites, the architecture of the Elbrus and Cheget resorts, skiing, mountaineering, and bard cultures, museum collections, and routes. The collected materials will form the basis of a future exhibition.

The project is being implemented by the Kavkaz.RF development institute under the supervision of the Russian Ministry of Economic Development. The main goal is to reimagine Elbrus's legendary status: not only as Europe's highest peak and a ski resort, but also as a place where great science, mountaineering, architecture, music, military memory, and personal stories have converged for decades.

The expedition was the first fieldwork stage. The participants didn't simply explore the Elbrus region; they collected material for future research: they filmed, sketched, and took notes, worked with archival books and photographs, spoke with experts, and discussed which stories were important to tell to a wider audience.

The organizers assembled an interdisciplinary team: they invited opinion leaders and experts from sports, museums, architecture, art, and design to join the trip. Participants included sports entrepreneur and ultramarathon runner Vladimir Voloshin; curator of the OBERIU and "Poltora Komnata" museums Yulia Senina; guide to Moscow, St. Petersburg, and the Caucasus Georgy Makeyev; CEO of the Museum of Moscow Anna Trapkova; tragicomic artist, illustrator, and graphic designer Daria Sergeeva; historian of Soviet architecture Konstantin Antipin; researcher and cultural popularizer Daria Sukhovskaya; artist Ekaterina Pugacheva; founders of "Excursion Bureau No. 1" Yulia Abramova and Marta Ageeva; Zhenya Chaika, Chairman of the Board of the Art Residency Association of Russia; fashion designer Mila Kereff; and Soviet architecture art historian Ksenia Kokorina.

During the trip, the participants shared details on social media. These posts evoked a lively response—users discussed little-known facts about Elbrus, shared personal memories, and expressed anticipation for the upcoming exhibition. Thus, the "Height Archive" began introducing a wider audience to the heritage of the Elbrus region even at the research stage—through the personal impressions, photographs, and observations of the participants.

The team from Dal, a partner of the "Height Archive," co-authored the trip program. Together with Kavkaz.RF, they are working on the research and content of the project.

The first stop was the Baksan Neutrino Observatory in the village of Neutrino. The group visited the adits and underground laboratories where solar particles have been studied for half a century. This part of the route demonstrated that the Elbrus region is not only a resort, but also a site of fundamental science.

The second day was dedicated to mountaineering and the high-altitude infrastructure of Elbrus. Participants passed through the Azau Glade, the Krugozor, Mir, and Garabashi stations, saw a new ski area, and ascended to the Liprus Hotel at an altitude of 3,912 meters. At the Mir station, a lecture was given on the history of the Elbrus resort. There, the group also visited the Elbrus Defense Museum, dedicated to the battles for the Caucasus during the Great Patriotic War.

The participants explored the tourist history of the Elbrus region through boarding houses, cable cars, and the sites around which resort life on Elbrus and Cheget developed. The researchers visited the Itkol ski resort, featured in the film "Vertical," and the Cheget resort. In the 1960s, the first cable car in the RSFSR appeared here, and climbers, skiers, tourists, and bards began to shape a unique mountain recreation culture around it. One of the symbols of this era was the "Ai" café—a place where the atmosphere of the 1960s can still be heard in the songs of Vysotsky and Vizbor. That evening, this theme continued with a house concert hosted by the "Koshki Tut" (Cats Here) rental and coffee shop team: participants listened to music, discussed mountain poetry, and shared impressions of the trip. Thus, Cheget's bard culture connected the place's past with its present.

"It's important for us to answer the question of what makes Elbrus legendary. It's not just the mountain itself. It's the people who worked here, climbed here, explored here, built here, wrote songs, made films, and created routes. The "Height Archive" project is needed to make this legacy visible again: for tourists, experts, future partners, and residents of the Elbrus region," the project team noted.

Following the expedition, Kavkaz.RF will continue to work with the collected materials. These will form the basis for developing the "Height Archive" and creating a future exhibition, which the project team plans to open in Moscow, Nalchik, and the Elbrus region this year.

Kavkaz.RF is preparing over 250 kilometers of eco-trails, six festivals, and high-altitude concerts for the summer season.

The main offerings of the upcoming summer at the Elbrus, Mamison, and Veduchi mountain resorts will be eco-trails in the mid- and highlands. Nearly 100 kilometers of the 250 kilometers of equipped eco-trails will be open to guests for the first time. Encounters with the mountains will be complemented by the "Chistaya Gora" eco-tourism festival, the "Mamison" art festival, and concerts ranging from high-end music and neoclassical music to ethno-folk, rock, and popular performers. Traditional trail runs, trekking weekends, and botanical excursions will be held at all resorts.

In total, the Kavkaz.RF development institute, with the support of the Russian Ministry of Economic Development, has already laid out and developed over 250 kilometers of hiking trails in the North Caucasus mountains. 112 kilometers of trails run through the Elbrus region of Kabardino-Balkaria, 110 kilometers connect Chechnya's main resorts of Veduchi and Kezenoy-Am, and 32.5 kilometers of scenic routes have been constructed near the new Mamison resort in North Ossetia. All of these trails are part of the large-scale National Caucasus Trail project, which will eventually connect the region with a network of eco-trails totaling nearly 2,000 kilometers.

"The North Caucasus is consistently developing its year-round tourism infrastructure. New tourist routes, cultural and sporting events help attract tourists, creating demand for small businesses, hospitality, food service, and transportation services. Such projects create new economic growth opportunities and enhance the investment attractiveness of the regions," noted Sergey Nazarov, Deputy Minister of Economic Development of the Russian Federation.

A "digital twin" of the trails will be responsible for navigation and safety for visitors—a new mobile app with comprehensive information about tourist routes, including security alerts, rest and food spots, and points of interest along the way—all data will be available even without internet access.

The Elbrus summer festival program will open with the "Rocks of Russia" rock climbing competition from June 9 to 15, followed by the Alpindustria Elbrus Race running festival from August 1 to 3 and the Elbrus Wild Trail from August 8 to 9, with Kavkaz.RF serving as the main partner. The Elbrus Prize competition from July 1 to 6 will conclude the summer training season for the Russian alpine skiing team. The main environmental event of the summer on Elbrus will traditionally be the "Clean Mountain" ecotourism festival, scheduled for August 28-29.

"The summer season will be marked by the Kavkaz.RF team exploring new directions in promoting the tourist appeal of the Elbrus region, Mamison, and Veduchi. We have already begun research on the Soviet architectural and scientific heritage of Elbrus and the surrounding area, and the first expedition has already left for the mountains. The result will be an exhibition that we will display in Moscow, Nalchik, and Elbrus. At Mamison, and later at other resorts, we plan to launch a series of excursions through the Alpine highlands, accompanied by botanists," said Andrey Yumshanov, General Director of Kavkaz.RF.

The development of the Mamison resort's art program will continue with the opening of an exhibition space and weekend meetings as part of the "Slow Life Workshops." The main cultural event of the season will be the second art festival in Lisri, where the resort's nature, historical monuments, and infrastructure will become a venue for contemporary monumental and light-and-music art. The festival will feature an exhibition of sculptures by Vladimir Soskiev, an academician of the Russian Academy of Arts and a monumental sculptor from North Ossetia. The resort's summer program will also include trekking weekends, a yoga week, mountain runs, and hikes. The season will conclude with the Alania Film Festival, with Mamison once again serving as a venue.

In addition to a well-developed network of eco-trails, trekking, and sports weekends, Veduchi in Chechnya will offer guests the chance to witness a historic construction project: the resort will be completing the final stages of installation of a giant 3S-type cable car, which will connect the southern and northern slopes of the resort. Plans for the winter include rope tensioning, installation of electrical equipment and automation, installation of cabins, and testing.

Mikhail Mishustin approved a list of instructions for the development of the North Caucasus Federal District.

The list of instructions following a meeting with members of the Government Commission for the Development of the North Caucasus Federal District, held in Mineralnye Vody on April 30, 2026, included provisions related to the implementation of investment projects in tourism, support for the agro-industrial complex, and disaster response in the region. These included instructions to relevant ministries, jointly with the Kavkaz.RF team:

Development of the all-season Mamison complex and attraction of a strategic investor for the implementation of the second phase of the project.

Development of a plan for the phased development of the National Caucasus Trail tourist route and identification of funding sources.

Creation of conditions for training athletes in Olympic and Paralympic sports – alpine skiing, snowboarding, freestyle skiing, and ski mountaineering – on Mount Elbrus.

Identifying investment sites for the construction of greenhouse complexes for flower growing and attracting investors, taking into account existing government support measures.

As a reminder, Kavkaz.RF CEO Andrey Yumshanov presented a report to members of the government commission on the company's role in the economic development of the macroregion at KIF 2026. Furthermore, the Prime Minister was presented with the results of the first ski season at Mamison and achievements in import substitution in the ski industry.

Vladimir Lapukhin, Deputy General Director of Kavkaz.RF, participated in the discussion "Ski Sovereignty of the Country: Mission Accomplished" at the Caucasus Investment Forum and spoke about resort construction under the new conditions: what worked, and what had to be rebuilt on the fly.

In recent years, Kavkaz.RF has transformed from a developer into a hub for engineering, logistics, and technological adaptation. Sanctions hit European equipment suppliers, changing the planning framework, the choice of work solutions, and deadlines. The implementation model had to be redesigned to ensure construction remained manageable.

Mamison is the first major ski resort in the country built from scratch after supplies of equipment and technology from Europe ceased. Several years ago, the share of equipment localization at North Caucasus resorts was 25%. By 2025, it exceeded 70%. Elbrus and Arkhyz are planning to reach ~100% capacity by 2028. The key equipment supplier for the new facilities is the Russian company Ruslet. In other words, the sanctions have become not only a challenge but also a real driver of transformation for the entire industry.

Elbrus is one of the most complex high-altitude construction sites in the country. In 2024, 5.7 km of pistes and two cable cars—a chairlift and a gondola—were built. This immediately increased the resort's transport and service capacity and provided the foundation for the development of the eastern skiing sector.

Russian solutions have been selected for the eastern zone and the resort's further development. The project is being implemented in partnership with Ruslet, and the new cable cars themselves are positioned as fully localized, Russian-made cable cars.

The unique feature of Elbrus is that all construction there takes place at altitude, within a very short seasonal window, and with a constant flow of visitors. Under these conditions, a change in supplier creates a fundamentally more sustainable development model.

Veduchi is home to one of the most complex infrastructure projects in the industry—a 3S cableway across a gorge. It's 4.4 km long and has cabins for 28 passengers. The technology itself is among the most complex and rare in the world; such projects are virtually unheard of.

After a break with the French supplier, the engineering and production chain had to be rebuilt virtually from scratch. Today, the project is at an advanced stage of readiness: the equipment has been delivered, the station technological equipment has been assembled, electrical installation work is underway, and the rolling stock garage is ready. One of the most challenging stages lies ahead: tensioning the cables on the 4.4 km long-span line across the gorge.

The Caspian Coastal Cluster in Dagestan is the first seaside resort in Kavkaz.RF. Experience in ski construction is useful here for project management and infrastructure assembly, but the environment is different, and so is the product logic. This is an important point: accumulated experience can be transferred, but it cannot be mechanically copied. The site covers over 300 hectares. The design of the main facilities has already been completed: all engineering infrastructure, coastal protection, landscaping, parking, and service centers.

It can be concluded that it wasn't one-time heroic efforts that paid off, but rather systematic management decisions—experience that has evolved into expertise. The main result of recent years is that the Kavkaz.RF team has learned not only to build but also to maintain momentum when the environment changes faster than the project itself.

Nikolai Goncharov: "The number of residents in the SEZ managed by Kavkaz.RF has increased by a third in one year."

Nikolai Goncharov, Deputy General Director of Kavkaz.RF, discussed the development of mountainous regions in the North Caucasus, the state's support measures, and the impact of such support on the economies of the North Caucasus Federal District regions at the Caucasus Investment Forum.

For 16 years, Kavkaz.RF, as a state development institution and management company, has been building and maintaining cable cars, ski slopes, artificial snowmaking systems, and other related resort infrastructure. Such "heavy" work is beyond the capabilities of private investors, but it is essential for the development of resorts of the scale of Elbrus, Arkhyz, Mamison, and Veduchi. The resorts have become magnets for both tourists and investors.

"The constructed facilities attract investment in commercial infrastructure, and interest from private investors is growing every year. "Currently, 112 residents are operating in our tourism and recreation special economic zones. Of these, 38—more than a third of the total—have attracted investment in 2025 and early 2026. Residents have announced investments in hotels, restaurants, and amusement parks totaling 210 billion rubles. More than 2,200 rooms have already been opened, creating 1,284 jobs," said Nikolai Goncharov.

According to Nikolai Goncharov, Kavkaz.RF's performance is measured not only and not so much by the number of infrastructure facilities built and private investors attracted, but, to a greater extent, by the volume of tourist flow, the resorts' contribution to tourism, and, ultimately, the GRP of the respective regions of the North Caucasus Federal District.

Over the past five years, the number of tourist trips to Kavkaz.RF resorts has increased by an average of 20% per year. Last year, despite a slight slowdown, tourist flow increased by 11% (higher than the national average of 5%). Kavkaz.RF is now approaching 2 million trips. The contribution of resorts managed by the development institute to the North Caucasus Federal District's tourism sector is estimated at 35-36%. Tourism's contribution to the North Caucasus Federal District's gross regional product (GRP) is approximately 5%.

"In collaboration with the Ministry of Economic Development of Russia, we have developed a comprehensive system of measures to support and support the activities of residents. In addition to tax incentives, residents have received subsidized financing totaling 23.3 billion rubles, and another 662 million rubles have been approved for projects under the program to support modular, non-permanent accommodation facilities. Furthermore, all residents have free access to the utility infrastructure we are creating, which collectively provides savings of up to 25% on capital expenditures," noted Nikolai Goncharov.

Timur Kebekov: "Kavkaz.RF is accumulating resources in the North Caucasus Federal District to address the tourism labor shortage."

Amid active investment growth, the construction of all-season resorts, and infrastructure development, the North Caucasus is facing a severe labor shortage. There is a shortage of line and technical personnel, and young professionals are leaving for larger cities. By 2030, the labor shortage in the tourism sector could reach 100,000 people. Staffing issues for the North Caucasus Federal District's tourism industry were actively discussed at the Caucasus Investment Forum. Answers and solutions were discussed during a session moderated by Timur Kebekov, Deputy General Director of Kavkaz.RF, with the participation of key industry experts.

Representatives of the online recruiting platform Headhunter provided analysis of the labor market in the North Caucasus Federal District. Research by hh.ru showed that there is an imbalance between professional fields in the regions. In some sectors, there is a surplus of personnel, while in others, there is a shortage. Tourism and hospitality are experiencing shortages. Experts say the problem isn't a lack of job seekers, but rather their distribution. Demand is highest for versatile professionals and mainstream positions. These are people who work directly with tourists. This is where the talent shortage is most acute.

At the same time, statistics show that job seekers from the hotel and restaurant industry are more likely than others to be confident they'll find work within three months. Hospitality employers are interested in filling positions quickly, so the chances of finding a job here are higher than average. This results in high demand on the one hand and a risk of staff turnover on the other.

"Colleagues' statistics show that blue-collar workers in the hospitality industry often receive higher salaries than they expected. Employers pay above market expectations, but the problem still remains. I believe the talent shortage in the North Caucasus Federal District's tourism sector is not a salary-related issue, but a systemic one. And this problem needs to be addressed not through isolated measures, but by transitioning to a sustainable training model. "Therefore, the goal of our expert community today is to move from a personnel shortage to a systemic solution. To do this, we must pool our resources—utilize analytics, apply public policy mechanisms, productivity-enhancing tools, and a digital ecosystem—and also consider the concept of an industry training center," said Timur Kebekov.

Public investment in the North Caucasus Federal District's tourism infrastructure from 2020 to 2025 amounted to 70.5 billion rubles, and an additional 200 billion rubles in extra-budgetary investment is expected by 2030, which will ensure the creation of 42,000 new accommodations. "Each of these means new jobs for maids, technicians, administrators, managers, and marketers. To forecast personnel needs, the Russian Ministry of Economic Development, together with the Russian State University of Tourism and Service, has developed a calculation model that allows for planning," said Anastasia Zolotukhina, Director of the Department for Development of the Social Sphere and Non-Profit Organizations.

Another solution is the work of the Association for the Development of Human Resources in the Tourism Industry and the North Caucasus Federal District Career Portal. Created by Kavkaz.RF, the Association aims to engage employers in developing targeted training programs so that universities and vocational schools understand the current shortage of specialists. The career portal aims to make the North Caucasus labor market more transparent and understandable for job seekers, employers, and educational institutions, addressing staffing needs not only immediately but also over the long term. This makes it possible to saturate the industry with competent workers of various skill levels and correct the imbalance between professional fields in the labor market. This close, comprehensive collaboration resulted in a cooperation agreement between the development institute and HeadHunter, as well as a roadmap for personnel training with the North Caucasus Federal University. The signing of these strategic documents took place during the Caucasus Investment Forum.

Kavkaz.RF has proposed making the tourist tax a targeted resource in resort SEZs.

Kavkaz.RF Executive Director Khasan Timizhev proposed concentrating tourist tax revenues with the management companies of resort special economic zones (SEZs). He made this statement at the "Tools for Improving the Efficiency of SEZ Operations" session at the Caucasus Investment Forum.

Timizhev believes this approach would be logical: since the tax is intended to promote resort development, it makes sense to direct its funds to the management company responsible for the development of the respective territory.

The expert emphasized that creating a resort is only the first stage: it must be regularly maintained and, if necessary, repaired. Targeted use of the tourist tax will help achieve these objectives more effectively.

Tourism in the North Caucasus Federal District was four times higher than the Russian average in 2025.

Last year, demand for tourist travel to the North Caucasus Federal District grew four times faster than the national average. These figures were announced at the Caucasus Investment Forum in Mineralnye Vody, where the Russian Ministry of Economic Development presented the results of tourism development in the region as part of the national project "Tourism and Hospitality." The North Caucasus Federal District welcomed 3.6 million tourists, an 8.5% increase compared to the previous year. By comparison, the national average for tourist flow was 2.2%. The highest growth rates were recorded in Chechnya (+35%), as well as North Ossetia and Karachay-Cherkessia (both +20%). In Dagestan, after adjusting for adjusted figures, growth of 11% was recorded. Regarding the winter season—from November to March—according to the ministry's latest data, the district confidently exceeded last year's target: 1.1 million trips were made, an increase of 19%. Skiing holidays were the growth driver, contributing to an 18% increase. The Ministry of Economic Development noted that the situation remains challenging in several regions of the Caucasus, but emphasized that once the situation normalizes, travel demand will quickly return to normal levels.

Speaking at the forum, Russian Minister of Economic Development Maxim Reshetnikov also spoke about the government's systematic efforts to increase hotel room capacity.

"The construction of 2,500 rooms in modular hotels has been supported—74 projects with a total funding of 3.7 billion rubles for the period 2025–2027." Another 7,500 rooms will be created under the preferential lending program: of the 40 approved projects, two hotels have already been commissioned in Stavropol Krai and one in Karachay-Cherkessia (all three are scheduled to open in 2024). Furthermore, a new cable car in Dombay is being built using the preferential loan. The quality of the rooms is also a priority. According to the minister, 1,800 accommodation facilities in the district have been classified, 70% of which are new properties that were not previously included in the register and have emerged from the shadow economy. As part of the experiment in Dagestan and Stavropol Krai, more than 1,500 rooms (183 properties) have been added to the guesthouse register. All this directly contributes to the economic recovery of the region," Reshetnikov emphasized.

The development of ski resorts was also discussed at the forum. According to the Ministry of Economic Development, this process has been significantly accelerated thanks to the special economic zones (SEZs) and the concentration of state support measures within them. Thanks to the state program Kavkaz.RF, 12 infrastructure facilities were launched last year alone: ​​ski slopes, cable cars, and snowmaking systems. This is motivating business—over 30 new residents arrived last year to build hotels, restaurants, and recreation areas. At the same time, the resorts are transitioning to Russian technology. As Maxim Reshetnikov noted, the further development of Elbrus and Arkhyz will be ensured by a completely domestic technological chain: cable cars, control systems, and lift software. Together with Kavkaz.RF, proposals are also being developed to improve tourist safety during ascents—in line with the objectives set by the President to improve the quality and safety of tourism services. They will begin with Elbrus, one of the most popular and challenging climbing points in the country. Plans include introducing control over the presence of a guide for groups, engaging rescue units, and providing medical support.

Russian Minister of Economic Development Maxim Reshetnikov stated at the forum: "The resorts of the Caucasus are transitioning to a completely Russian technological chain. We're talking about cable cars, control systems, and software for lifts on Elbrus and Arkhyz. We're also developing proposals to enhance tourist safety during ascents—we'll start with Elbrus, where we'll introduce controls to ensure groups have guides and strengthen medical support. All of this work is being carried out within the framework of the "Tourism and Hospitality" national project, which is under the personal supervision of the President.

A separate section of the presentation at the Caucasus Investment Forum was dedicated to the new art resort, Mamison. Andrey Yumshanov, CEO of Kavkaz.RF, addressed the forum participants and presented the results of the first ski season and projects by SEZ residents—concept hotels resembling an astronaut base and cottages made from Ossetian dolomite. According to Yumshanov, Mamison welcomed 100,000 people in its first season and has prepared a year-round program of activities focusing on creativity and self-development. The hotels are already fully booked for the May holidays, and summer bookings are actively underway. The head of Kavkaz.RF also emphasized that Mamison is the first major mountain project in the country to be built since the introduction of European sanctions on equipment and technology in 2022. Moreover, the resort has become a catalyst for import substitution in the country: the Russian company Ruslet, in response to requests from Kavkaz.RF and other resorts, developed the first domestically produced detachable clamp for cable cars. The development process took several years, and now all Kavkaz.RF cable cars are equipped with domestic equipment and software.

Andrey Yumshanov, CEO of Kavkaz.RF, noted in his speech at the forum: "Mamison has become the country's first major mountain project built after the introduction of European sanctions on equipment and technology in 2022. The resort has become a catalyst for import substitution in the country: the Russian company Ruslet, in response to requests from Kavkaz.RF and other resorts, developed the first domestically produced detachable clamp for cable cars. The development process took several years, and now all Kavkaz.RF cable cars are equipped with domestic equipment and software. Plans include the delivery of four cable cars to expand the ski area of ​​the legendary Elbrus, which, under the management of Kavkaz.RF, is aiming for a million-strong tourist flow, growing by 10-15% annually. All these achievements have been made possible thanks to the President's systematic support and the implementation of the national "Tourism and Hospitality" project.

Andrey Yumshanov: "Our resorts are contributing to the national goals of import substitution and technological leadership."

The CEO of Kavkaz.RF spoke at a government commission chaired by Russian Prime Minister Mikhail Mishustin.

"In recent years, a robust infrastructure of all-season tourism clusters has been developed in the district's regions—resorts such as Arkhyz, Elbrus, Dombay, and the young town of Mamison have become magnets for both tourists and investors. All these projects are strengthening the overall hospitality infrastructure of the Caucasus regions. As a result, tourists are increasingly coming to us. At the end of this year, we plan to launch ski infrastructure at Veduchi in the Chechen Republic, and the Caspian coastal resort is in the active phase of construction as part of the federal project 'Five Seas and Lake Baikal,'" said Andrey Yumshanov.

In total, over 70.5 billion rubles of budget funds have been invested in the facilities built by Kavkaz.RF, including 23.9 billion rubles of the company's own funds. Approximately 2 million tourists visited the ski resorts in 2025 alone, with declared extra-budgetary investments in hotels, restaurants, and amusement parks totaling 210 billion rubles. Private investors have already raised 29 billion rubles, over 2,200 rooms have been opened, and 1,300 jobs have been created.

"Kavkaz.RF organized the creation of the first cable car certification center and testing laboratory. We also propose establishing official testing sites for specialized equipment developed in Russia—heavy snow groomers, snowmaking systems, and avalanche control systems—at our high-altitude locations. Beyond our wishes, additional regulations are needed here, and we have begun working on this with the Ministry of Industry and Trade," noted Andrey Yumshanov.

Andrey Yumshanov presented the concept of Kavkaz.RF's new strategy at the 2026 North Caucasus Financial Forum.

Responding to the moderator's question about the role of a development institution at the business session "The North Caucasus: A Sleeping Titan for Investment – ​​How to Awaken It?", the head of Kavkaz.RF shared the main approaches to developing the company's new strategy through 2030.

Since its establishment in 2021, Kavkaz.RF has focused on increasing investment activity and strengthening financial institutions in the North Caucasus. In addition to building "heavy" infrastructure, the company was tasked with creating conditions for banks to operate in the North Caucasus Federal District by sharing risks and creating a favorable environment.

"Our role as a development institution was not only to directly finance areas deemed a priority by the state, but also to attract funds from other development institutions, banks, and businesses by creating favorable conditions in the district. One of the key indicators of our work is the stable dynamics of banks' share in the projects we support. "While it was zero in 2021, by 2025 it had reached over 35%, or 18.3 billion rubles, along with funds from project initiators. In other words, by using our own instruments, we attracted credit institutions to the projects and increased their trust in the macro-region," explained Andrey Yumshanov.

These were the fundamental principles on which the development institution was built, but over time, the North Caucasus Federal District and Russia as a whole underwent significant socioeconomic transformations, the economy changed, and turbulence arose in various sectors. In order to steadily and consistently develop the territory, Kavkaz.RF needed to adapt its activities to current realities and set new goals.

What changes are in the new strategy? The main one is the definition and systematization of particularly important tools and areas of activity. These areas are threefold: the comprehensive development of the SEZ, including work with residents, the packaging and promotion of resorts, financial and non-financial support for investment projects, and government consulting related to labor productivity and human resource development. Kavkaz.RF manages three mountain resorts at various stages of development (a fully-fledged cluster with growing tourist flow, one recently launched, and one under construction), and is also building a seaside resort on the Caspian Sea. The company's resorts currently host approximately 2 million visitors. Currently, 112 residents work there, having invested 29 billion rubles and created 1,284 jobs.

By 2030, a major round of construction is planned to be completed, ensuring the resorts operate optimally: within the special economic zones of the North Caucasus, over 160 km of ski slopes, over 35 cable cars, and 6 km of developed beaches will be operational, with over 20,000 accommodations created, and tourist flow estimated at 4.5 million people (36% of the total tourist flow in the North Caucasus Federal District).

To complete construction of the resorts for optimal operation, an additional investment of approximately 38 billion rubles is required. The company faces the challenge of revising its funding sources and increasing its profits.

"Kavkaz.RF includes several promising subsidiaries, and by improving their efficiency, we will be able to achieve significant financial results. These include Kavminkurortresursy, North Caucasus Mountain Club, KRSK-UA, and a new company, Kavkazengineering, which was presented for the first time at the KIF.

Regarding investment project support, given limited budgetary resources, we will focus our efforts primarily on breakthrough projects outlined in the Economic Development Models for the North Caucasus Federal District, approved by the Government of the Russian Federation. By 2030, we plan to support 16 breakthrough projects and projects of SEZ residents, with a total value of 42.5 billion rubles, using banking instruments," notes Andrey Yumshanov.

In addition to issuing preferential loans, Kavkaz.RF provides non-financial support to businesses. Twenty-three enterprises have already received support through various measures, including market expansion and collaboration with regional authorities, banks, and development institutions to obtain preferential loans.

A separate new area is government consulting, which includes measures to improve labor productivity in tourism companies, enhance human resource capacity, and provide business support.

According to various estimates, by 2029, the labor shortage in the tourism and recreational special economic zones in the North Caucasus Federal District will reach 14,000 people. Labor productivity in the tourism industry is 2 million rubles per person (versus 2.58 million rubles in the Russian Federation).

To address these issues, an industry competence center for tourism and an association for human resource development were established within Kavkaz.RF. The company is already participating in 13 projects to improve productivity at tourism facilities and four projects in other industries.

Furthermore, Kavkaz.RF is a strategic partner in two educational clusters and, together with Headhunter, launched a job and employee search portal.

The impact of these initiatives will be assessed against the national development goals of Russia through 2030 and through 2036, approved by the President of Russia.

"Kavkaz.RF is fully committed to addressing the region's challenges, utilizing all available resources and tools. We recognize the scale of the challenges facing the district, and while we cannot solve them alone, our contribution to improving the investment climate is crucial. We act as a link between government priorities and market mechanisms. Our mission is to facilitate the economic development of the North Caucasus and improve the quality of life. Our main strategic objective is to identify and develop growth areas that will unlock the full potential of the macroregion," concluded Andrey Yumshanov.

Kavkaz.RF and NCFU signed a roadmap for personnel training.

As part of the business program of the III Caucasus Investment Forum, a roadmap for cooperation was signed between Kavkaz.RF, the North Caucasus Federal District Development Institute, and North Caucasus Federal University. The partnership aims to combine the university's scientific potential with the corporation's practical expertise to address key issues of the region's socioeconomic growth.

On April 29, Kavkaz.RF CEO Andrey Yumshanov and NCFU Rector Professor Tatyana Shebzukhova signed the document. The roadmap developed between the development institute and the flagship federal university contains six areas.

"The partnership is deeply practical and systemic. We have developed a full-cycle training program in tourism – from skilled trades and secondary vocational education to higher education programs. We see our main goal as aligning our curricula with the real challenges facing the tourism industry. "We have already actively participated in the work of the regional Association for the Development of Human Resources in the Tourism Industry of the North Caucasus Federal District, created with the support of Kavkaz.RF," said NCFU Rector and Professor Tatyana Shebzukhova.

Joint research and expert support for projects will also be a key component of this collaboration. University researchers and specialists will be involved in evaluating investment initiatives, developing master plans for territories, including the Caucasian Mineral Waters agglomeration, and creating tourism clusters.

"The tourism industry in the North Caucasus is experiencing a boom: tourist traffic has increased 2.5-fold in five years, but a labor shortage is one of the factors hindering even more rapid growth. According to expert estimates, by 2030, the shortage of qualified tourism specialists in the North Caucasus will exceed 100,000. Of course, we cannot remain on the sidelines—the labor shortage is a pressing issue for both our resorts and our resident hoteliers and restaurateurs." "We will progressively address this challenge through systemic measures and targeted cooperation," commented Andrey Yumshanov, CEO of Kavkaz.RF.

Joint research is planned in priority areas for the district, such as the agro-industrial complex, renewable energy, and creative industries, using NCFU's laboratory facilities.

North Caucasian Federal University (NCFU) is launching a series of continuing education programs at the School of Caucasian Hospitality at the Pyatigorsk Institute of North Caucasian Federal University – for both hotel and travel company employees, as well as for those just beginning their professional careers. The roadmap includes off-site training and seminars for the business community in all regions of the North Caucasian Federal District.

The Federal University will participate in the regional Association for the Development of Human Resources in the Tourism Industry of the North Caucasian Federal District, created with the support of Kavkaz.RF. Every student studying in relevant fields at North Caucasian Federal University will have the opportunity to complete an internship or secure their first job at leading companies in the district.

One of the key social areas of the roadmap is the development of tourism-related initiatives for people with disabilities. Additional educational programs and tourism products are planned, taking into account best international practices for people with disabilities, as well as the regional characteristics and mentality of the North Caucasus.

At its stand at KIF-2026, Kavkaz.RF presented its first projects in the human resources area – the work of the Human Resources Development Association and a career portal created in collaboration with Headhunter.

Tourist traffic along the National Caucasus Trail could exceed 4 million by 2030.

By 2030, the interregional tourist route "National Caucasus Trail" could attract more than 4 million tourists. This was announced by Nikolai Goncharov, Deputy General Director of Kavkaz.RF, at the Caucasus Investment Forum (CIF-2026).

The project launched in 2023. The trail will connect the coasts of the Black and Caspian Seas, passing through all regions of the North Caucasus Federal District and the Krasnodar Krai. The total length of the route will exceed 2,000 km.

By the end of April 2026, Kavkaz.RF had already developed over 240 km of the trail. All necessary infrastructure for comfortable recreation, including navigation signs, benches, and gazebos, has been installed along these sections. The route is divided into sections of varying difficulty, suitable for both experienced hikers and those with minimal training. Plans call for the construction of approximately 60 km of new trail sections annually.

Kavkaz.RF and Rosa Khutor have agreed to cooperate to develop mountain tourism in Russia.

The all-season mountain resort Rosa Khutor and the state corporation Kavkaz.RF have announced the start of their joint work. The partnership aims to improve the management efficiency of tourism and recreational complexes, train specialists in rare mountain professions, and implement flagship domestic technological solutions in the operation of ski infrastructure. The corresponding agreement was signed at the Caucasus Investment Forum.

The document formalizes the long-term cooperation between the parties and forms the basis for joint efforts to develop all-season mountain tourism in Russia. The agreement was signed by Kavkaz.RF CEO Andrey Yumshanov and Rosa Khutor CEO Konstantin Nesterov.

The key areas of cooperation will be improving the regulatory framework and industry standards for resort operations (including taking into account environmental factors), exchanging experience in operating tourism and recreational complexes, and jointly promoting mountain tourism.

Special attention is being given to import substitution in the infrastructure of mountain resorts. This involves the development of domestic solutions for ski and engineering equipment, including their testing and implementation.

Both resorts are already implementing such projects. Specifically, at six Rosa Khutor ski lifts—Tirol, Olympia, Zapovedny Les, Volchya Skala, Quartet, and Extreme—the foreign automated control system software (ACS) has been completely replaced with Russian-made software. The domestic manufacturer Ruslet is supplying all new ski lifts and software for the Mamison and Veduchi ski resorts. Domestic snowcats are being tested for the second season on Mount Elbrus.

Konstantin Nesterov, General Director of Rosa Khutor, noted that this work will be developed systematically.

"We believe the next logical step is the formation of a unified Russian cable car management ecosystem—not just at the technology level, but across the entire lifecycle: equipment and spare parts supply, service support, technical support, and personnel training within the country," he commented. "Without trained specialists, any technology loses its effectiveness, and the ski industry is no exception."

Rosa Khutor and Kavkaz.RF have already begun work on creating a training system for specialists in rare professions in the ski industry—snowmakers, snowcat drivers, avalanche control specialists, and cable car operators—using educational institutions in the North Caucasus. Currently, there is no centralized model for training such personnel in Russia. Resorts "grow" them independently: they find people from related professions and provide years of hands-on training. The development of this area is also enshrined in the signed agreement.

"Last year, we systematically addressed the issue of training personnel for the tourism industry; personnel issues are the main concern for all our investors in the resorts. The North Caucasus Federal District Human Resources Development Association was created, and we are currently working on industry standards. In partnership with Rosa Khutor, we are entering another, narrower but no less important niche: training highly specialized specialists, the ski resort's "elite." The scale of the Sochi resort and the high-altitude experience of our Elbrus team can yield a very high synergistic effect, and the partnership will set a positive precedent in the industry," says Andrey Yumshanov.

A discussion on import substitution in the ski industry will also be held on April 30 as part of the KIF-2026. Organized by Kavkaz.RF, the speakers will include Khisa Bekkaev and Vladimir Lapukhin, heads of operations and construction at the state corporation, Konstantin Nesterov from Rosa Khutor, Dmitry Sidorovich, CEO of Ruslet, and other manufacturers of equipment, components, and gear.

Kavkaz.RF and Sber are preparing to launch a digital investment platform.

Today, at the Caucasus Investment Forum, Anatoly Pesennikov, Chairman of Sberbank's South-West Bank, and Andrey Yumshanov, CEO of Kavkaz.RF, signed a letter of intent regarding Sberbank's participation in the implementation of Kavkaz.RF's digital project, the "Investment Hub."

The project aims to create a dedicated digital platform that will facilitate increased investment activity in the regions of the North Caucasus Federal District.

Anatoly Pesennikov, Chairman of Sberbank's South-West Bank, said: "Sber always prioritizes supporting business growth, and it is important for us to offer entrepreneurs and investors relevant products and tools. In partnership with Kavkaz.RF, our Bank has already launched a number of joint investment projects aimed at improving the investment climate and developing the economy of the North Caucasus Federal District. We previously successfully implemented a preferential lending program for businesses in the Caucasus, and over the three years of its implementation, 206 loans totaling 8 billion rubles have been issued. We are currently exploring the Bank's participation in the implementation of a digital platform developed by Kavkaz.RF. This platform will facilitate interaction between project initiators, representatives of participating banks, and Russian development institutions, and will also enable the business community and financial institutions to more efficiently process loan transactions.

Andrey Yumshanov, CEO of Kavkaz.RF: "Kavkaz.RF and Sber have been successfully collaborating for several years, implementing projects in various sectors and industries. Together, we help entrepreneurs in the North Caucasus Federal District launch and grow their businesses. It is widely known that our country is ahead of the rest of the world in the implementation of digital services, and our goal is to work with banks to create a convenient electronic tool that will help them obtain government support with minimal effort. This will free up entrepreneurs' time for visionary thinking, launching new businesses in the Caucasus, and creating a comfortable business environment. The digital platform will unite entrepreneurs and credit institutions and will also accumulate information on investment projects launched and planned for the Caucasus."