Tourism Financing Assessment
The International Finance Corporation (IFC), a member of the World Bank Group, has launched a new project to promote growth and investment in the tourism sector in the Kyrgyz Republic, one of the directions of which is to develop a competitive value chain in the tourism sector.
In this area, Spot On Consulting commissioned by IFC conducts diagnostics of the financial sector, starting in May 2019. The purpose of the diagnosis is to study the financial products available in financial institutions for entrepreneurs in the tourism sector. Diagnostic results will be used by the IFC project to develop innovative financial products to finance the needs of entrepreneurs working in the tourism sector.
Diagnostic tasks of the financial sector:
- Collection of data on the loan portfolio of PKU in general and volumes of tourism lending in particular;
- Determining the presence in the PKU of development strategies for lending to the analyzed sector portfolio growth, sales channels;
- Determining the accessibility of policies and procedures for lending to the tourism sector;
- Determining the availability of reporting systems for managing a travel portfolio;
- Analysis of the availability of lending opportunities for both small, medium and large enterprises in the areas of public catering, hotel business, general industry services;
- Quantification of cumulative deficiency or financing opportunities;
- Assessment of restrictions for tourism lending by the Regulator;
- Identification of incentives for the development of lending incentives for the development of lending to the PKU sector.
To obtain the most comprehensive and reliable information, several methods have been applied:
Desk study, which consists in the collection and analysis of existing statistics, reports, publications, as well as legislation in the field of tourism
Qualitative research of PKU – structured questionnaire and survey of key PKU employees, their expert interviewing.