The memorandum was signed by Serhiy Derkach, Deputy Minister for Communities, Territories and Infrastructure Development of Ukraine, and Nicola Villa, Executive Vice President, Public Sector, Strategic Growth, Mastercard. The signing took place during Ukraine Recovery Conference, held on June 11-12 in Berlin.

“Restoring the tourism industry is an essential aspect of the country's economic recovery, aiming to increase tax revenues and bolster the overall brand of Ukraine. Today, we need to work on developing inclusive and accessible tourism infrastructure, promoting domestic tourism among Ukrainian consumers, and creating conditions for legal employment in the tourism sector. Collaborating with Mastercard, our primary focus will be on analytics and research within the Ukrainian tourism landscape. This will enable us to create a comprehensive strategy to position Ukraine as a desirable tourist destination and foster the development of Ukrainian regions and communities based on emerging trends,” emphasized Sergiy Derkach.

The Memorandum outlines cooperation in the following areas:

• promoting regions of Ukraine as tourist destinations at both domestic and international levels;

• improving the quality of national tourism products;

• digitizing the tourism industry and aiding in the advancement of digital services among micro, small and medium sized enterprises engaged in tourism;

• facilitating the attraction of investments for the development of the tourism industry;

• analyzing popular tourist destinations, trends, and travel experiences within Ukraine to develop and implement an effective tourism strategy for the country.

“At Mastercard, we believe public-private partnerships are essential for driving economic growth and innovation. For decades we have supported governments in their digital transformation journeys and today we are committed to supporting Ukraine's reconstruction. We are proud to partner with the Ministry for Restoration and contribute to Ukraine’s tourism development by harnessing our global network, technologies, and data expertise. Through Mastercard's Tourism Innovation Hub, alongside our vast track record of partnerships in the travel and tourism space around the globe, we are furthering our commitment to support the reconstruction of the travel and tourism industry to become more sustainable, resilient, and inclusive. With this collaboration, our goal is to help Ukraine utilize its impressive potential and heritage, and, as soon as the situation allows, reopen to the world,” says Nicola Villa. 

Earlier in March this year, Mastercard signed a Memorandum of Cooperation with Boryspil International Airport, aiming to expand the partnership to provide high-quality services for airport passengers once flights resume, when the security situation in Ukraine allows. This initiative is one of many undertaken by the company in support of Ukraine. For many years, Mastercard has been working jointly with government stakeholders, banks, and merchants to develop the country's cashless and digital ecosystem, ensuring the smooth operation of cashless payments and digital services. Additionally, the company actively supports Ukrainian entrepreneurs by introducing dedicated financial products, services, and initiatives aimed at helping them develop and scale their businesses.