Baku, Fineko/abc.az. World Travel & Tourism Council (WTTC) has presented a report on Azerbaijan for 2016.
According to the report, in 2016 the tourism industry of Azerbaijan ensured AZN 2.285 bn ($1.437 bn) or 4.1% of country’s GDP. WTTC forecasts that in 2017 tourism will provide 7% or AZN 2.446 bn of GDP, in 2017-2027 the share of this sector will grow by 6.5% up to AZN 4.58 bn ($2.88 bn) or 5.9% of GDP.
Tourist costs (Visitor Exports) in Azerbaijan in 2016 amounted to AZN 4.55 bn ($2.86 bn). In 2017 this figure, according to organization’s estimates, will grow by 8.1% and the country will be visited by 2.758 million tourists. In 2027 tourists costs will increase by another 6.5%, and in 10 years 4.25 million tourists will arrive in the country and spend AZN 9.205 bn or $5.769 bn.
The report says that in 2016 Azerbaijan's tourism sector was invested AZN 479.5 million. In 2017 it is expected that investments in the sector will grow by 6.2% and in the next 10 years by 4.9% up to AZN 825.1 million. The share of local investments in the tourism sector will amount to 2.9% in 2017 and 3.3% in 2027.