Lipetsk is one of the most rapidly developing cities of Russia. Its climate, which is mild for Russia, together with unique environment, particularly mineral water sources and curative mud, in the XIX century made the city a renowned balneal resort.

Geographic location of Lipetsk enables its inhabitants and guests to enjoy exceptionally picturesque views of neighbouring areas. Natural conditions of Lipetsk Oblast (Region) fuse harsh cold winters and hottest summer days. In autumn trees and plants display incomparable tints of colour. Due to abundant trees it appears as if the city sank in the verdure, therefore many visitors call Lipetsk «a green city».

As to appearance of the city, it features mostly the so-called «Soviet empire style». Nonetheless, some buildings, especially in the heart of the city, called «Gorodische», belong to the XVIII-XIX century. Moreover, one of the oldest buildings in Lipetsk, the Church of Assumption, was built at the end of XVII century. Plenty of churches and temples are being restored all around the city and Region after they had been ruined during the period of Communist regime.

There are several museums and theatres in Lipetsk, a couple of galleries, one of which used to belong to Sorokin, an eminent artist who has commemorated his hometown in his impressionist-style canvases.

However, at present Lipetsk is primarily a well-developed economic and industrial centre. The fact is that the city is one of the few «donor cities» in the country, which implies that it donates finances to the government rather than drains money, i.e. its income exceeds its costs.

Despite of its relatively short history, it managed to become the centre of attraction for numerous foreign companies that aspire to establish their business there. Lipetsk hosts plants ant joint venture companies of such titans of world industry as Merloni. This Italian giant has already built two industrial plants manufacturing white goods and the largest logistics centre in Europe. It also plans to construct specialized domestic equipment for kitchens.