The influence of the institutional environment on the development of tourism in Krasnodar region

Abstract

Relevance of research of institutional environment is determined by the needs of the society and economy in general. The purpose is to support the regional tourism companies to meet the challenges of changing environment. This article is dedicated to the influence of institutional environment of the Krasnodar region to the tourism businesses. The influence of formal and informal institutes is the issue to research, in other words how the local population and employers work and react to the factors of institutional environment.