Importance The article investigates the impact of economic crises of the 21-st century on efficient functioning of regional socio-economic systems. Objectives The aim is to demonstrate the influence of macroeconomic factors on tourist and recreational services in two regions of the Baikal area (the Irkutsk oblast and the Republic of Buryatia). Methods The study draws on comparative analysis, generalization, and analogy. Results The paper analyzes the impact of two economic crises (2008–2009 and 2014–2015) on the basis of statistical data characterizing the tourism and recreation in the Baikal area. It demonstrates the multidirectional nature of the impact of economic crises. The findings show how macroeconomic factors influence tourist and recreational services in regions. Conclusions The analysis reveals two tendencies in the sphere of tourist and recreational services, i.e. a rather high susceptibility to external economic and political factors and the ability of enterprises operating in the tourism and recreation sector to adapt to unfavorable external effects. Economic crises should be viewed as a positive factor that unlocks the potential of the said enterprises and enables them to transfer to a qualitative level of development and functioning.
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