This year, Azerbaijan’s travel and tourism sector will experience significant growth, the World Travel and Tourism Council said in a statement, APA-Economics reports.
The sector’s contribution to the national economy is projected to reach 10.3 billion manats — a 32% increase compared to last year. It is expected that the GDP generated by the tourism and travel sector will account for 8.2% of the country’s total GDP this year. International tourist spending is forecast to hit 5.5 billion manats, marking a full recovery from the post-pandemic period. Domestic tourist spending is expected to reach 3.8 billion manats, setting a new record.
This year, the sector is expected to support the employment of 472,000 people, which accounts for approximately 10% of total employment in the country.
According to the Council’s estimates, by 2035, Azerbaijan’s travel and tourism sector will contribute over 17 billion manats to the national economy, making up around 11% of GDP. The industry is also expected to provide employment for approximately 670,000 people, meaning nearly 200,000 new jobs will be created over the next decade.
Over the next ten years, international tourist spending is projected to reach about 9.5 billion manats, while domestic tourist spending will rise to 6.3 billion manats.
