In this work, the authors consider the need for application of innovations and increase in efficiency of functioning of the tourism industry in the Republic of Tatarstan (RT). It is emphasized that without complex use of innovative approaches the sphere of tourism and hospitality of the explored region will not be able successfully to develop. In the contribution, the reasons interfering growth of tourist flows at a turn of the 20th and 21st centuries and ways of their overcoming in modern conditions are analyzed. The authors allocated the perspective directions of development of the industry of tourism in the Republic of Tatarstan for the next years. These include, in particular: the organization of new types of tourism and tourist destinations in the region, development of digital technologies in the sphere of tourism and hospitality of Tatarstan, further improvement of transport infrastructure of the republic’s tourism industry. Successful realization of the specified actions, will promote the further growth of value of the tourism industry in the region’s economy.