Moscow will build a resort hotel on the Dead Sea.
Russia’s capital city also will subsidize flights and hotel packages for its residents, according to Israel’s Tourism Ministry.
Construction will begin on the 240-room luxury hotel in the coming months.
Approximately 9 percent of the 2.3 million visitors to Israel in 2007 were from Russia. The level is expected to increase with Russia and Israel signing a visa-free travel agreement that took effect in September.