Tourism is a sector demonstrating sustained growth and ranks third amongst global export sectors. The tourism industry accounts for 7% of global exports overall, and almost one third of global services exports. The number of international trips is growing by an average of 4% every year. In addition, tourism produces a powerful synergistic effect. The rising tourist flow is ensuring increased revenues for 53 economic sectors which contribute to creating the tourism product, multiplying employment and self-employment, assisting in the development of small and medium-sized enterprises and involving them in export activity, improving living conditions for local populations, and smoothing imbalances in regional development. Russia has become one of the ten most visited countries in the world, and in 2016 was ranked forty-third in the World Economic Forums Travel and Tourism Competitiveness Index, moving up two places compared with the previous year and overtaking Turkey. What needs to be done to maintain this positive trend and consolidate Russias position on the global tourism market?