Kazakhstan observed rise in investments in art and leisure by more than 2 fold
The first month of 2020 has seen 3.3 billion tenge been invested in the field of art and leisure, compared to 1.5 billion tenge in January of 2018 (more than 2-time rise), Strategy2050.kz reports with a reference to Finprom.kz.
Investments in art and leisure account for mere 0.5% of the total capital investments within the country, a year earlier the sector share in the investment portfolio was only 0.2%.
In the regional context, the largest amount of funds (almost half) fell on the capital: 1.6 billion tenge, against only 5.6 million tenge in the same period the year before. Among the regions with significant capital investments are Mangystau region (527 million tenge, 15.7%), Almaty (445 billion tenge, 13.3%) and Zhambyl (357.3 billion tenge, 10.7%).
In general, investments in the sector in January were recorded only in 12 regions out of 17 across the country. Investors have not yet shown activity in Atyrau, Western Kazakhstan, Kyzylorda and Turkestan regions, as well as in Shymkent, in spite that latter being announced this year the cultural capital of the countries of the Commonwealth of Independent States. The city plans to hold more than 30 major events: exhibitions and festivals, concerts of pop stars, creative evenings and performances of circus artists, with an official opening scheduled for April 3, 2020.
74% of capital investments in the field of art, entertainment and leisure came from funds of the business: 2.5 billion tenge, against 1.4 billion tenge a year earlier, another 15.7% from borrowed funds, 10.2% from local budgets, and only 0.1% from bank loans.
