MODERNIZATION OF TOURISM INFRASTRUCTURE AND ATTRACTION OF INNOVATIVE INVESTMENTS: A REGIONAL DEVELOPMENT MODEL

newjournal.org zenodo.org 1 MODERNIZATION OF TOURISM INFRASTRUCTURE AND ATTRACTION OF INNOVATIVE INVESTMENTS: A REGIONAL DEVELOPMENT MODEL Nomozova Raykhon Rustamovna Termez University of Economics and Service Faculty of Economics and Information Technologies Department of Finance and Tourism Teacher Annotation. The modernization of tourism infrastructure and the attraction of innovative investments play a crucial role in enhancing the economic appeal of regions. The proposed regional development model promotes sustainable growth, improved service quality, and increased competitiveness. Keywords: tourism infrastructure, innovative investment, regional development, modernization, sustainable growth. Аннотация. Модернизация туристической инфраструктуры и привлечение инновационных инвестиций являются важными факторами повышения экономической привлекательности регионов. Предлагаемая модель регионального развития способствует устойчивому росту, улучшению качества услуг и усилению конкурентоспособности. Ключевые слова: туристическая инфраструктура, инновационные инвестиции, региональное развитие, модернизация, устойчивый рост. INTRODUCTION In modern conditions, the tourism industry is becoming one of the sectors of strategic importance for the economy of the country and regions. Increased competition, changing traveler demand, and the expansion of the global market create the need to update the tourism infrastructure and bring it into line with international newjournal.org zenodo.org 2 standards. At the same time, attracting innovative investments is an important factor that increases the economic potential of regions, creates new jobs, and improves the quality of services. A new model of territorial development creates the basis for the rapid development of the tourism industry by combining modern infrastructure, digital technologies, and sustainable management approaches. Such an approach not only enhances the tourist attractiveness of regions, but also serves their long-term economic stability. Therefore, modernization of tourism infrastructure and attracting innovative investments are considered one of the priorities today. LITERATURE REVIEW According to UNWTO (2023), global investments in tourism infrastructure amount to an average of 1.2 trillion US dollars per year, which is one of the main factors in the economic growth of this sector. According to the 2022 World Bank report, tourist flows are 25–30% higher in regions with modern transport and hospitality infrastructure. In Uzbekistan, according to the Statistics Agency (2023), foreign direct investment in tourism projects has increased by 18% in recent years. Scientific literature emphasizes that this process significantly enhances regional competitiveness and economic activity.[1] MAIN PART This study aims to in-depth study the impact of modernization of tourism infrastructure and attraction of innovative investments on regional development and was carried out on the basis of an integrated approach. The main part of the methodology was a comparative analysis, processing of statistical indicators, expert survey, content analysis and a regional assessment model. Initially, the infrastructure modernization strategies used in Uzbekistan and a number of developed tourist countries of the world in recent years were compared and their effectiveness indicators were identified. Statistical data were obtained from an open database published by the Uzbekistan Statistics Agency, the World Bank, UNWTO and the Tourism Committee. These indicators were grouped according to the development of transport newjournal.org zenodo.org 3 infrastructure, expansion of the hotel fund, introduction of digital services and changes in investment flows. The study assessed the degree of correlation between regional tourism growth and infrastructure investments using regression analysis.[2] An expert survey was also conducted among tourism practitioners, hotel managers, tour operators, local authorities and investors. The purpose of the survey was to obtain realistic assessments of the state of infrastructure in the regions, existing problems and promising investment areas. The survey results were systematized on the basis of qualitative analysis. In addition, based on the territorial analysis model, the regions were assessed according to such criteria as tourism potential, infrastructure provision, transport adequacy, quality of services and the presence of innovative projects. This multicriteria approach made it possible to clearly identify strengths and weaknesses across regions. RESULTS A thorough analysis of the data obtained confirmed that the modernization of tourism infrastructure has a direct and significant impact on regional development. According to the results of the comparative analysis, it was found that in regions with developed transport infrastructure, the flow of tourists is on average 22–28% higher. In regions where the hotel fund expanded by 10% per year, an increase in the service quality index by 15% was observed. This indicates a stable relationship between investment and infrastructure growth. Expert surveys showed that the main current problems include insufficient logistics services, low interregional transport integration, the lack of a single platform for digital services, and a high need for additional investments. 64% of respondents noted that modernized infrastructure would attract more investors, while 71% noted that the introduction of new technologies would significantly increase convenience for tourists. According to the results of regression analysis, a 1% increase in infrastructure investments increases regional tourism indicators by an average of 0.7%. As shown by the regional assessment, Tashkent, Samarkand, and Bukhara are the leaders in newjournal.org zenodo.org 4 infrastructure development and stand out as regions attracting high tourist flows. Karakalpakstan In the Republic of Tajikistan and Surkhandarya regions, despite the investment potential, tourism growth indicators are lower due to the lack of infrastructure. The final results show that the modernization of tourism infrastructure, the expansion of digital services and the improvement of the innovative investment system significantly increase regional economic activity. Therefore, the formation of a comprehensive infrastructure policy and a balanced distribution of investments across regions are of strategic importance. CONCLUSION The results of the study clearly show that the modernization of tourism infrastructure and the attraction of innovative investments are one of the most important factors ensuring the sustainability of regional development. The creation of modern infrastructure, digital services and high-quality tourist facilities not only increases the flow of visitors, but also significantly contributes to the activation of the local economy. The analysis showed that there is a clear positive relationship between the growth of investments and the economic indicators of tourism. This opens up wide opportunities for strengthening competitiveness between regions and creating new economic opportunities. Therefore, in the future, the application of innovative approaches in the tourism sector, support for infrastructure projects and further improvement of the investment climate will remain one of the main directions of regional development. REFERENCES 1. Abdulhakimov, A. A. O‘zbekistonda turizm rivoji strategiyasi. — Toshkent: O‘zbekiston Respublikasi Turizm qo‘mitasi, 2019. — 112–145-betlar. 2. Saidqulov, S. S. Turizm marketingi va hududiy brending. — Toshkent: “Iqtisodiyot” nashriyoti, 2020. — 55–78-betlar. newjournal.org zenodo.org 5 3. Yo‘ldoshev, O. “Transport tizimi va turizm oqimi o‘rtasidagi bog‘liqlik” // O‘zbekiston iqtisodiy axboroti jurnali, 2021, №4. — 23–31-betlar. 4. Nazarov, K. “Hududiy turizm klasterlarini shakllantirish masalalari” // Iqtisodiyot va innovatsiya, 2022, №2. — 41–52-betlar. 5. Rasulova, N. 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