The status of a "priority tourism project" will be fixed in the legislation of St. Petersburg on the support of investment activities.

At a working meeting of the Governor of St. Petersburg with members of the city government, the draft law of St. Petersburg "On creating favorable conditions for the development of tourism in St. Petersburg in the implementation of priority tourism projects in St. Petersburg and on amending the Law of St. Petersburg "On State Support for Investment activities in St. Petersburg" was approved.
The document was developed by the St. Petersburg Investment Committee. It regulates the implementation of projects for the construction and reconstruction of hotels and sanatoriums, as well as engineering and transport infrastructure designed to ensure the functioning of tourist facilities, and is aimed at creating favorable conditions for the development of tourism in St. Petersburg in accordance with the updated Strategy for the period up to 2035.
"The bill is very important for the city – it will create a special legal mechanism that will help investors in the implementation of projects for the construction, reconstruction and operation of hotels and sanatoriums. It also introduces the status of a priority tourism project, which is a significant step in the development of the hospitality industry," said Alexander Beglov. 
To obtain the status of a priority tourist project, an investment project must simultaneously meet certain criteria, including being carried out by a legal entity whose main economic activity is hotel services and (or) recreation for children and their rehabilitation and (or) the activities of sanatorium—resort organizations; ensure a positive economic and social effect.; comply with the established minimum size of the unit cost of construction (reconstruction) of one room as part of the number of rooms of the created investment object of tourist infrastructure. Such requirements for investors are necessary to create a tourist infrastructure of a certain level of comfort and will exclude the construction of facilities with a low level of comfort.
"The flow of visitors to our city is growing every year. About 12.5 million tourists visited St. Petersburg last year. Our task is to support companies that will develop the hospitality industry. The status of a priority tourist project will help reliable investors get special conditions for the implementation of projects," Alexander Beglov emphasized.
The validity period of the status is set for the duration of the project, but not more than 10 years.
The bill defines the conditions that allow the city to monitor the implementation of investment projects, including on privately owned land. This will ensure that the interests of St. Petersburg are respected in terms of creating tourist infrastructure facilities with appropriate characteristics and their subsequent operation by investors in accordance with their functional purpose.
The adoption of the document forms a legal mechanism that will reduce administrative barriers for bona fide investors and provide tax incentives for the implementation of priority tourism projects.