The Magadan Dream: Myths, Reality, and Prospects

Abstract

The main problem of socio-economic development in the regions of the Far Eastern Federal District is out migration of the population, which is caused by dissatisfaction with its socio-economic conditions. The causes of this dissatisfaction are considered through the example of the Magadan region. Occupying high places among the regions of Russia in terms of wages, accrued pensions, average per capita income and housing security, the Magadan region significantly loses in terms of natural and climatic conditions, purchasing power of population incomes, and real provision of social benefits. The population, initially focused on temporary residence in the northern region, leaves it at a working age. The authors formulated proposals to improve the socio-economic situation of the territory’s population. In addition to institutional benefits, there is a need for measures to support businesses that contribute to the retention and attraction of the able-bodied people, ensuring at least a double level of purchasing power of incomes versus the Russian average.