Kavkaz.RF proposes allocating a portion of the tourist tax toward the maintenance of infrastructure within Special Economic Zones (SEZs).

Khasan Timizhev, Executive Director of Kavkaz.RF, presented this initiative at the 4th International Forum on Special Economic Zones during a session titled "A Long-Term Business Model for SEZs: From Concept to Achieving Performance Targets." The core proposal is to direct a share of the tourist tax revenue—currently flowing into local budgets—to the management company responsible for the upkeep and development of infrastructure within tourism-recreational SEZs.

According to Khasan Timizhev, the vast majority of management companies for tourism-recreational SEZs in Russia operate at a loss. Once infrastructure is established, the burden of its maintenance falls on the management company, while primary revenue streams—such as ski passes and lease payments (in the case of Kavkaz.RF)—fail to fully cover these costs. As a potential solution, the development institution suggests reallocating a portion of the tourist tax.

"It seems fair and appropriate to direct a share of tourist tax revenue toward the maintenance and development of SEZ infrastructure, which drives significant tourist traffic to the region," noted Khasan Timizhev. He emphasized that these funds should be earmarked specifically for the design, construction, reconstruction, maintenance, and repair of facilities located within the SEZ boundaries.

This initiative is informed by 16 years of experience at Kavkaz.RF, which demonstrates that tourism-recreational SEZs can be profitable—provided they are guided by a long-term strategy (spanning 10 years or more) and ensure the synchronized launch of core tourism infrastructure alongside facilities developed by the SEZ’s resident businesses. "The experience gained from our first resort, Arkhyz, demonstrated that a phased approach is the right one—where initial residents synchronize their projects with the rollout of essential infrastructure, including ski facilities, utilities, roads, and public areas. Launching these elements simultaneously creates a synergistic effect, accelerating the timeline for a Special Economic Zone (SEZ) to reach operational profitability by rapidly building up tourist traffic. We are now applying this same strategy to the development of the Mamison, Veduchi, and Kaspiy resorts," said Khasan Timizhev.

Over the past decade, tourist traffic to resorts built and managed by Kavkaz.RF—a dedicated development institution—has grown more than sixfold, rising from 300,000 visitors in 2015 to over 2 million in 2025. According to the company, annual tourist traffic to these resorts has seen a steady average growth of 20% over the last five years, significantly boosting overall tourism numbers across various regions of the North Caucasus.

Khasan Timizhev also noted that Kavkaz.RF has introduced a competitive selection process for resident projects. As the investment appeal of these SEZs grows, competition for land resources has intensified, making it essential for the management company to allocate these assets effectively when selecting partners.

"These are not our only initiatives; we are also developing other mechanisms to improve the management efficiency of our SEZs. Ultimately, however, all of these efforts are rooted in a combination of long-term planning, precise business modeling, and the careful selection of partners," emphasized Khasan Timizhev.