The Russian market offers a lot of investment opportunities in this time of global economic uncertainty, says legendary investor Jim Rogers. He called for a closer look at Russia’s domestic tourism and the economy of the Far East.
The founder of the Quantum Fund, which had a 4,200 percent return in the first 10 years since its establishment, Rogers talked to RBC daily about where to invest.
Many areas of the global economy have been seriously affected during the coronavirus pandemic, especially transport companies and the tourism sector, Rogers said. He has invested in airlines’ shares and a number of other crisis-hit industries. The hardships of entrepreneurship can be beneficial to investors, Rogers noted.
The American businessman said that he is actively seeking investment opportunities in Russia and sees much potential in its Far East and Siberia regions, because some “exciting things” are happening there. He mentioned the city of Vladivostok in particular, where a lot of investment is being made in infrastructure, roads and universities.
“If I were a young brave Russian or just a Russian, I would go there. Go East!” said the investor.
The list of Rogers’ investment-attractive countries also includes China and Venezuela. He is sure that in five to six years, such investments could bring a good return.
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