Imagine Armenia as a hub of sailing – a concept that once seemed purely fictional.

 

Yet, between September 4 and 8, 2024, Lake Sevan hosted the First Armenian Open J/70 Sailing Championship. The driving force behind this event was the Winds of Armenia Yacht Club, founded by Artashes Dadayan.

Artashes is not just any ordinary sailing enthusiast. He is a seasoned anti-crisis manager in Moscow who, over the past two years, has been splitting his time between Russia and Armenia. His mission? To use his expertise to benefit his homeland – by putting Armenia on the global sailing map.

So, how does one go from navigating corporate crises to steering a sailboat? The answer lies in the unique life story and professional journey of Artashes.

“I was born in Kirovakan during some tough times: the earthquake, war, the collapse of the Soviet Union, and the shutdown of the local industries. My father’s side of the family were all techies, while my mother’s side were musicians. At ten, my family decided to move to Moscow. I transferred to a Russian school and threw myself into history and social sciences. This led me to become the only one in my family to pursue a career in law – a bit of an outlier. I went on to study at Moscow State Regional University, gaining a solid foundation in law while simultaneously starting my career in banking from my first year. That is where my career began, working on anti-crisis management and problem assets,” Artashes recounts while en route to Sevan.

Artashes has a rich professional background. Over the years, he has continued to work in anti-crisis management, the securities market, and problem assets. He pursued further studies in corporate governance and capital markets at the Higher School of Economics. He also ventured into legal consulting, specializing in distressed assets and bankruptcies, including Russia’s largest bankruptcy project at the time, the SU-155 group. His work spanned the globe, from Florida to Hong Kong.

Despite his global career, Artashes never lost touch with the homeland. He spent his holidays in Armenia until his professional commitments took over.

“In 2022, I returned to Armenia, feeling that I had gained enough experience to give back to my homeland. I started exploring, talking to people, and a friend told me about a new diving club at Sevan. Intrigued, I visited Sevan, curious about its potential for sports tourism and recreation. Driving around the lake, I couldn’t help but feel sad. Our beautiful lake, which helped us survive in the 90s, was in such a sorry state. As an anti-crisis manager, I started seeing Sevan and the Gegharkunik region as a major problematic asset. The lake has a short tourist season – just three months. That’s too short for any infrastructure, like hotels or restaurants, to be profitable. At first, I was frustrated, but then I moved to acceptance and started thinking about how to extend the tourist season,” Artashes explains.

Around this time, Artashes developed a passion for sailing. One windy day at Sevan, he thought, “Wouldn’t it be great to sail here if only there were boats?” He made a video, sent it to a friend, and shared his thoughts. To his surprise, his friend, who had sailed in many places, was astonished to find such an ideal location for sailing in the world that he had never heard of. Experts came to Armenia, conducted research, studied the lake, and explored its meteorological history.

 

On May 27, 2023, Artashes laid the foundation for the Winds of Armenia Yacht Club. That day, he promised the club would be fully operational by September of the following year. To his surprise, his friend, who had sailed in many places, was astonished to find such an ideal location for sailing in the world that he had never heard of. Experts came to Armenia, conducted research, studied the lake, and explored its meteorological history. Soon after, the decision was made to hold the First Armenian Open J/70 Sailing Championship class at Sevan.

“Once we realized we could sail here, we asked ourselves: what’s next? We wanted to create a destination that would attract people from around the world. The first challenge was getting Armenians excited about sailing. The second was bringing the global sailing community here. Interestingly, the first task might be tougher than the second. Sailors are always on the lookout for new waters, and high-altitude locations like this one are especially intriguing. Sevan is unique; there is no other lake like it at this altitude (1900 m) that is suitable for sailing. We chose J/70 boats because sailors familiar with these boats would immediately recognize Sevan as a new sailing destination. In our first year, the manufacturer even added Sevan to their global sailing map,” says Artashes.

The J/70 boats are perfect for amateurs and beginners, allowing them to quickly learn and participate in competitions. The club’s goal is to make sailing accessible to everyone, especially young people, and to get them involved in this exciting new lifestyle.

Artashes is determined to change the world’s perception of Armenia. Beyond its history, religion, and gastro-tourism, he wants Armenia to be known as a sailing hub. With this ambitious vision, he founded the Winds of Armenia Yacht Club and launched the Open Championship to attract sailors from around the world.

“When we discussed the maximum number of events our water area could host, we set a goal of bringing the European Championship to Sevan. This would mean hundreds of teams, each with up to five members, coming here. Eventually, 23 teams registered for the September championship. Despite being our first event, there was already a lot of interest. Teams from Cyprus, Estonia, Germany, Italy, Portugal, and Russia competed. Even in Russia, where there are plenty of water areas, it’s rare to find a place with consistent daily winds. Here at Sevan, we have stable winds, so you can sail every day,” Artashes said proudly.

The first Armenian Open J/70 Sailing Championship took place from September 4 to 8, 2024. The first two days were reserved for training, allowing sailors to familiarize themselves with the lake. These were followed by three days of racing. Each race day featured entertainment for spectators watching from the shore.

 

The championship was judged by nine officials, including Luca Babini, a legendary figure in the sailing world. Luca has judged events such as the London Olympics, the America’s Cup, and the recent European Championship. He developed a modern sailing judging system that is now internationally recognized, and the Armenian championship was judged using this system.

“On September 8, our last day of racing coincided with the start of the Rolex Cup, one of the world’s most prestigious sailing events. But we were ready to compete with the best, and we were pleased to see many great sailors attending our event in Armenia,” adds Artashes.

The Winds of Armenia Yacht Club is also open to amateurs, with daily regattas depending on the number of participants. This initiative is the club’s main effort to popularize sailing in Armenia. For those looking to take their skills further, the club offers a school where students can earn international certifications.

Artashes is passionate about Armenia’s sailing history, noting that the country’s Sailing Federation runs a large children’s school. Young sailors move on to larger boats at the yacht club, preparing for international competitions. The Federation works closely with the yacht club, with members participating in amateur regattas and taking tourists on sailing trips.

Armenia’s sailing history is rich and fascinating: it began in 1970, and the country was actively involved. In the 1980 Olympics in Tallinn, the USSR sailing team included 15-16 members, eight of whom were from Sevan. This raised many questions, leading to the discovery that one day of training on Sevan was equivalent to three days of training in any other USSR water area. However, in the 90s, as everything declined, Sevan’s sailing infrastructure also faded, and the lake ceased to attract tourists.

As the club’s ambitions grew, so did the need for infrastructure. Where would all the participants stay during competitions? Artashes came up with a plan: build a hotel to accommodate a thousand guests.

“We leased a plot of land near the village of Drakhtik, located within the national park, and developed a concept, sketches, and plans. Now, we’re in the process of getting the necessary documentation to start building a hotel complex. We’ve planned everything to ensure the complex operates year-round – it will be the best spa complex in the region. I’m hesitant to make bold claims, but we’re committed to doing our best (smiles). We’ll invite top specialists, and people will come to improve their health. The complex will have four main attractions: a spa, sailing, a restaurant, and a hotel. These four elements will create a year-round destination.

The hotel will consist of individual houses that will be sold. Anyone can purchase a house, which will then generate income for them. This concept allows members of the diaspora to invest in their homeland and stay connected to Armenia, while also earning a return on their investment,” Artashes shares his vision.

 

Beyond sailing, Artashes is also focused on education. He is in talks with the Russian-Armenian University (RAU) about teaching programs. As a professor at the Higher School of Economics in Moscow, he has already given a masterclass to RAU students. He is eager to share his knowledge with Armenian students.

“Although I’ve spent most of my adult life in Russia, my thoughts have always been with both Russia and Armenia. If you have skills and knowledge to share, come and help create a new era for our nation. We’ve often built our lives and achieved success outside of Armenia, but it’s time to change that. The world is so interconnected now that you can’t fully realize your potential in just one country. Armenians are welcomed in Armenia - I’ve experienced it myself. There’s a huge opportunity here for successful people to make a real impact. Come, share your experience, and help develop Armenia,” Artashes concludes.

By Nare Bejanyan