The winner’s project will be implemented in three stages

The competition’s winning project will be implemented in three stages: from 2019 to 2028. It is planned to attract funds from private investors and government support to finance the project.

Some funding will be allocated as part of the Federal Target Program “Development of Domestic and Inbound Tourism in the Russian Federation (2019–2025)”, and a further part from state programs of the Republic of Sakha (Yakutia): “Provision of Quality Housing and Improvement of the Quality of Housing and Communal Services for 2018–2022”, “Creation of a Modern Urban Environment on the Territory of the Republic of Sakha (Yakutia) for 2018–2022”, and “Development of Entrepreneurship and Tourism for 2019–2024” (to be implemented from 2020).

The competition for the creation of a concept for a tourism cluster in Oymyakon is a rare example in competition practice where information about the stages of project implementation and sources of its financing are absolutely open and become public during the competition process.