THE IMPACT OF PILGRIMAGE TOURISM ON REGIONAL ECONOMIC DEVELOPMENT AND ITS DEVELOPMENT PROSPECTS

Abstract

The article analyzes the impact of pilgrimage tourism on regional economic development. The aim of the study is to identify mechanisms for creating added value in the territorial economy, increasing employment, and developing small business and the service sector through pilgrimage tourism. During the analysis, the multiplicative effect of tourism, its impact on infrastructure, its contribution to local budget revenues, and the factors increasing investment attractiveness were studied. It is substantiated that creating a favorable investment climate for regional private sector entities for the development of pilgrimage sites and expanding public-private partnership mechanisms are important factors of sustainable development.