Importance Against the background of the ongoing financial crisis, the problem of developing an effective system of financial risk management in the tourism business has recently become even more relevant. I use the Krasnodar and Stavropol Krais as case studies to consider the basic tools and techniques necessary for successful implementation of the strategy of financial sustainability of the regional tourist business. Objectives The purpose of the study is to identify the main gaps in the assessment of financial stability of regional tourism. Methods For the study, I used logical, economic-statistical and economic-mathematical analyses and the probability expert evaluation methods. Results I studied the methods and tools that contribute to the financial sustainability of the tourism business, including methods to assess financial risks and competitive advantages of the region. I considered the risks that occur at different stages of the travel company's operation. To assess the financial strength of a travel company, I propose my own method based on the fuzzy set theory and matrix technique. I have developed a technique to assess the financial risks of a travel company during the financial planning of business processes. In addition, I show the functional relationship of these risks. Conclusions and Relevance I conclude that for more flexible development of tourist business, the industry needs good structural reforming, as well as monitoring tools for tourist companies' performance, insurance of both a risk of lack of tourist services and its financial implications and the risks of external factors that may cause such implications. The results will be useful for assessing the financial sustainability of the tourism industry at the regional and interregional levels.
Sidorov V.A., Popov N.O. Faktor migratsii v sovremennykh mirokhozyaistvennykh svyazyakh [A migration factor in modern world economic relations]. Teoriya i praktika obshchestvennogo razvitiya = Theory and Practice of Social Development, 2012, no. 4, pp. 260–262.
Konstantinidi Kh.A., Rubin A.G., Vorob'eva M.A. Analiz i otsenka investitsionnoi privlekatel'nosti i opyt primeneniya instrumentov marketinga territorii v Krasnodarskom krae [Analysis and evaluation of the investment attractiveness and experience in application of territories marketing tools in the Krasnodar Krai]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2014, no. 20, pp. 146–157.
Eskindarov M.A., Lenskaya S.A., Mosin V.V., Epikhina G.M. Intellektual'nyi kapital – faktor ekonomicheskogo razvitiya sovremennoi Rossii: monografiya [Intellectual capital as a factor of economic development of modern Russia: a monograph]. Moscow, Vysshaya shkola Publ., 2002, 92 p.
Kil'chukova A.L. Strukturnye sostavlyayushchie kachestva zhizni naseleniya [Quality of life: structural components]. Terra Economicus, 2012, vol. 10, no. 2-2, pp. 84–88.
Kalaidin E.N., Gavrilov A.A., Suvorova V.V., Kosenkova K.V. Innovatsionnye i finansovye metody upravleniya vneshnim gosudarstvennym dolgom Rossii [Innovative and financial methods of management of the external public debt of Russia]. Ekonomika ustoichivogo razvitiya = The Economics of Sustainable Development, 2012, no. 9, pp. 100–107.
Butenko D.E. Sotsial'no-ekonomicheskie aspekty gosudarstvenno-chastnogo partnerstva v formirovanii promyshlennoi politiki Rossii [Socio-economic aspects of public-private partnership in formation of the industrial policy of Russia]. Ekonomika i predprinimatel'stvo = Economy and Entrepreneurship, 2014, no. 7, pp. 138–144.
Khotinskaya G.I. Kapitalizatsiya kak faktor ukrepleniya finansovoi ustoichivosti kompanii [Capitalization as a factor of strengthening the financial stability of a company]. Finansovyi menedzhment = Financial Management, 2006, no. 4, pp. 26–30.
Bogdashev I.V., Adamenko A.A. Motivatsionnyi mekhanizm povysheniya effektivnosti innovatsionnoi sistemy na urovne predpriyatiya, regiona i obshchegosudarstvennom urovne [A motivational mechanism of increase of the innovative system’s efficiency at the level of an enterprise, region and the nation-wide level]. Ekonomika i predprinimatel'stvo = Economy and Entrepreneurship, 2013, no. 10, pp. 691–694.
Giannias D.A., Belokrilova O.S., Shevchenko I.V., Chepurko Y., Iakovlev A. Index based regional analysis: the case of the former Soviet Union and Russia. Economics of Planning, 2000, vol. 33, no. 1-2, pp. 71–83.
Kalaidin E.N., Dyudin M.S. Izmerenie stokhasticheskoi sostavlyayushchei v dinamike aktivov rossiiskogo rynka kapitala [Measuring a stochastic component of Russian capital market dynamics]. Ekonomika ustoichivogo razvitiya = The Economics of Sustainable Development, 2012, no. 11, pp. 126–132.
Ñhang H.-Ñ., Demekhin E.A., Kalaidin E.N., Ye Y. Coarsening dynamics of falling-film solitary waves. Physical Review E – Statistical, Nonlinear, and Soft Matter Physics, 1996, vol. 54, no. 2, pp. 1467–1477.
Vinogradova O.S., Zdor E.V., Martseva T.G. [Electronic money]. Materialy mezhdunar. nauch.-prakt. konf. “Innovatsionnye protsessy v nauchnoi srede”, Ufa, mai, 2014 [Proc. Int. Sci. Conf. Innovative Processes in Scientific Environment, Ufa, May 2014]. Ufa, Aeterna Publ., 2014, pp. 62–64.
Pomazan S.V. Sovremennoe razvitie politicheskoi i pravovoi mysli.V kn.:Sotsial'no-ekonomicheskie problemy razvitiya Yuzhnogo makroregiona: Sbornik nauchnykh trudov [Modern development of political and legal thought. In: Social and economic issues of the development of the Southern macro-region: A collection of scientific works]. Krasnodar, Yuzhny Institute of Management Publ., 2013, pp. 185–191.
Kil'chukova A.L. [Methodological aspects of structuring of social and economic capacity of the region]. Materialy II mezhdunar. nauch.-prakt. konf. “Molodezh' v formirovanii innovatsionnoi ekonomiki i perekhod k obshchestvu znanii”, Nalchik, October 23–25, 2013 [Proc. 2nd Int. Sci. Conf. Youth in Formation of Innovation Economy and Transition to Society of Knowledge, Nalchik, October 23–25, 2013]. Nalchik, Institute of Computer Science and Problems of Regional Management of KBSC of RAS, Ministry of Education, Science and Youth Affairs of Kabardino-Balkar Republic Publ., 2013, pp. 114–118.
Tyutyukina E.B., Rukshina E.I. Korporatsiya, korporativnoe upravlenie i korporativnye finansy v rossiiskoi ekonomike [Corporation, corporate governance and corporate finance in the Russian economy]. Vestnik Finansovogo universiteta = Bulletin of Financial University, 2013, no. 3, pp. 108–117.
Chaldaeva L.A. Finansovye istochniki innovatsionnoi ekonomiki: mezhdunarodnaya praktika i rossiiskie realii: monografiya [Financial sources of the innovation economy: international practice and the Russian realities: a monograph]. Moscow, Moscow Academy of Humanities and Technology Publ., 2011, 168 p.
Klimanov V.V., Sychev B.V. Fondy regional'nogo razvitiya kak instrument okazaniya finansovoi pomoshchi mestnym byudzhetam [Funds for regional development as an instrument of financial assistance to local budgets]. Region: ekonomika i sotsiologiya = Region: Economics and Sociology, 2005, no. 2, pp. 28–42.
Trunin S.N., Muratova A.R. Sotsial'naya otvetstvennost' kak osnova razvitoi rynochnoi ekonomiki [Social responsibility as a basis for a developed market economy]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2009, no. 12-1, pp. 18–24.
Goncharenko L.I. Nalogooblozhenie kommercheskikh bankov: teoriya i metodologiya: monografiya [Taxation of commercial banks: theory and methodology: a monograph]. Yoshkar-Ola, String Publ., 2008, 252 p.
Saibel' N.Yu., Dira D.V. Prioritety razvitiya nalogovoi sistemy Rossii [Priorities of development of the tax system of Russia]. Terra Economicus, 2008, vol. 6, no. 4-3, pp. 225–228.
Chang H.-C., Demekhin E.A., Kalaidin E.N. Coherent structures, self-similarity, and universal roll wave coarsening dynamics. Physics of Fluids, 2000, vol. 12, no. 9, pp. 2268–2278.
Berlin S.I., Petrov D.V., Bogdashev I.V., Adamenko A.A. Strategicheskie prioritety razvitiya predprinimatel'stva v Krasnodarskom krae [Strategic priorities of the development of business in the Krasnodar Krai]. Ekonomika i predprinimatel'stvo = Economy and Entrepreneurship, 2014, no. 11-4, pp. 182–187.
Kozyr' N.S., Polidi A.A. Teoreticheskie osnovy upravleniya kapitalizatsiei na osnove restrukturizatsii [Theoretical bases of management of capitalization on the basis of restructuring]. Terra Economicus, 2008, vol. 6, no. 3-2, pp. 128–130.
Al'pidovskaya M.L. Ekonomicheskie osnovy tenevoi ekonomiki i korruptsii byurokraticheskogo apparata [Economic fundamentals of shadow economy and corruption of officialdom]. Menedzhment v Rossii i za rubezhom = Management in Russia and Abroad, 2008, no. 1, pp. 136–140.
Sorokozherd'ev V.V., Konstantinidi Kh.A., Zinchenko N.V. Ekonomiko-pravovye aspekty realizatsii strategii modernizatsii Rossii: real'nye imperativy dinamicheskogo sotsiokhozyaistvennogo razvitiya [Economic and legal aspects of the implementation of the modernization strategy of Russia: real imperatives of dynamic social and economic development]. Obshchestvo i pravo = Society and Law, 2015, no. 1, pp. 341–345.
Bochkova E.V., Kuznetsova E.L., Sidorov V.A. Klaster kak institutsional'naya struktura v sisteme territorial'nogo razdeleniya truda: monografiya [Cluster as an institutional structure in the system of territorial division of labor: a monograph]. Krasnodar, Novatsiya Publ., 2014, 160 p.
Sorokozherd'ev V.V., Konstantinidi Kh.A., Bugakova N.P. Ekonomiko-pravovye aspekty realizatsii strategii modernizatsii Rossii i dostizheniya tselei effektivnogo razvitiya [Economic and legal aspects of the implementation of the strategy of Russia’s modernization and achieving the effective development targets]. Ekonomicheskaya nauka sovremennoi Rossii = Economic Science of Modern Russia, 2014, no. 3, pp. 173–177.
Shmarygo L.V. Osnovnye kharakteristiki protsessov razvitiya elektroenergetiki Kubani [The main characteristics of development of the electric power industry of Kuban]. Ekonomika: teoriya i praktika = Economy: Theory and Practice, 2008, no. 1, pp. 55–61.
Smirnova E.E. Nalogovyi kontrol' za polnotoi otrazheniya dokhodov fizicheskikh lits [Tax control over the completeness of reflection of incomes of individuals]. Finansy = Finance, 2011, no. 7, pp. 41–44.
