The Krasnodar Krai's economy and development key drivers

Subject. This article analyzes the development of the Krasnodar Krai, considered in the context of key factors affecting its macroeconomic indicators and structural changes across time. Objectives. The article aims to identify and systematize the main industry priorities and institutional conditions for the development of the Krasnodar Krai, determine the internal and external challenges that hinder growth, and formulate practical recommendations for enhancing regional competitiveness in the long term. Methods. For the study, I used the methods of systems and structural-and-functional analyses. Results. The article finds that the Krasnodar Krai demonstrates a stable growth of gross regional product, active development of agro-industrial and tourism complexes, as well as a high level of investment activity. The article also identifies areas of concern and proposes certain measures for economic diversification, stimulation of cluster development, and digitalization of the key industries. Conclusions. A transition to an innovative-cluster model of regional development that ensures sustainability and ecological balance is necessary. The successful implementation of the development strategy for the Krasnodar Krai requires active cooperation between government authorities, business, and civil society, as well as comprehensive modernization of the production, social, and institutional environments of the Krai.