The Russian Government has launched a great commitment to fund the long term touristic and socio-economic development of the North Caucasus Mountain range stretching between the Black Sea and the Caspian Sea. 5 regions have been selected: Lagonaki, Arkhyz, Elbrus-Besengi, Mamison, Matlas and each of those has received the status of a "Special Economic Zone", benefitting from governmental funding, guarantees, specific financing mechanisms and reduced taxes. 
     With the upcoming 2014 Olympic Winter Games in Sochi and 2018 FIFA World Cup also in Russia, the great potential of the North Caucasus is about to be revealed. Northern Caucasus Resorts Corp, the newly-incorporated state enterprise, charged by the Russian Federal Government, is responsible for implementing a US$15 billion programme. The project outline has already been presented to investors around the world in 2011. Each resort offers unique attractions and all five are developed for year-round tourism. The main architectural firm and developer is Masterconcept Gmbh / Austria.

Lagonaki:

It is easily reachable from Krasnodar (where the Krasnodar International Airport is located) and other South-Western Russian cities. It is the ideal family resort with its great slopes and excellent snow conditions. Around 7,000 beds  and 15 lifts are planned for the first stage, including golf resorts and private chalets.

 

Arhyz:

Construction work began in January 2011 which is the largest of the planned resorts at Arhyz in Karachay-Cherkessia, where the budget for sports infrastructure alone amounts to US$3.7 billion, with 263 km of ski slopes for up to 45,000 skiers in peak seasons. The existing village of Arhyz is currently being upgraded, while two entirely new villages are to be constructed, with the main sites due for completion for the 2013 ski season.

 

Mamison, North Osetia:

Mamison in North Ossetia, which will be the second largest of the planned resorts, requiring a total investment of US$2.5 billion, is undeveloped at the moment. One of the great advantages of Mamison is the relatively close proximity to a big city, Vladikavkaz (750,000 inhabitants) and the international airport Beslan.

Mount Elbrus:

The highest mountain in Europe, has welcomed skiers for many years, including Vladimir Putin who learned to ski at nearby Cheget. Three new villages will be constructed to create the second highest ski resort in the world.

 

Matlas:

In the most eastern part of North Caucasus is only some 80 km away from the Caspian Sea on a 1,700 m high plateau with mountains reaching up to 2,700 m. The resort is more oriented towards Islamic guests and architecture and functionalities will respect this guest group very much.

Also part of the Northern Caucasus resorts development is the 120 km coastal development on the Caspian Sea, where existing towns will be extended and modernized. The region is currently preparing its master plans for a potential Youth Olympic Summer Games Bid in 2018.

The rich 5,000 year old history, such as the Derbent Fortress, is the perfect backdrop for touristic development in the future.