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Formulation of development strategy for tourism and hospitality industry

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This article is devoted to formulation of development strategy for tourism and hospitality industry. | Formulation of development strategy for tourism and hospitality industry International Journal of Management IJM Volume 11 Issue 3 March 2020 pp. 467 474 Article ID IJM_11_03_050 Available online at http www.iaeme.com ijm issues.asp JType IJM amp VType 11 amp IType 3 Journal Impact Factor 2020 10.1471 Calculated by GISI www.jifactor.com ISSN Print 0976-6502 and ISSN Online 0976-6510 IAEME Publication Scopus Indexed FORMULATION OF DEVELOPMENT STRATEGY FOR TOURISM AND HOSPITALITY INDUSTRY Elena Yurievna Nikolskaya Plekhanov Russian University of Economics Stremyanny lane 36 Moscow 117997 Russia Marianna Mikhailovna Romanova Plekhanov Russian University of Economics Stremyanny lane 36 Moscow 117997 Russia Olga Vladimirovna Pasko RUDN University Miklukho-Maklay Str. 4 Moscow 117198 Russia Marina Evgenjevna Uspenskaya Moscow state Institute for physical culture sports and tourism n.a. Yu.A. Senkevich Kronstadt Blvd. 43A Moscow 125499 Russia Tatiana Anatolievna Saadulaeva Russian Customs Academy Komsomolsky Prospect 4 Lyubertsy Moscow region 140000 Russia ABSTRACT This article is devoted to formulation of development strategy for tourism and hospitality industry. It has been established that in order to improve competitiveness of sector markets and to create conditions for accelerated development of tourism and hospitality industry due to expansion of spectrum and improvement of service quality it is required to consider for guarantied conformity of available capacities of existing enterprises and newly established entities with demands of tourists while developing strategic economic programs and their implementation in each region. It has been proved that implementation of development strategy for tourism and hospitality industry would allow to determine numerous attractive tourist and recreation proposals create modern procurement infrastructure of tourist and hotel business improve transport infrastructure of border area and arrangement of all required facilities .