ABSTRACT
The development of tourism is impossible without attracting investments in the economic development including investments at the regional level. The purpose of the study is to build a predictive model for assessing the impact of investment in tourism on the volume of tourist flow. The data for the central federal district of the Russian Federation for 2009–2015 has been used to test the model. Modeling for panel data serves as a framework within which the main regression models have been estimated, in particular, pooled model, Fixed Effect model (FE), Random Effect model (RE). In conclusion, the analysis of panel data has enabled researchers to reveal the heterogeneity of regions of the central federal district of the Russian Federation, and its modeling has been carried out using models with a fixed effect which reflect individual features of economic entities.
