Azerbaijan discloses amount of investments in tourist accommodation and catering sectors in 2019
Baku, Azerbaijan, Apr. 10
By Ilhama Isabalayeva - Trend:
Some 59.3 million manat ($34.9 million) was invested in fixed assets in the field of tourist accommodation and catering in 2019, Trend reports referring to a report on the activity of the Azerbaijani Cabinet of Ministers in 2019 submitted to the Azerbaijani parliament.
Some 0.3 percent of total funds allocated for the fixed assets in the country accounted for this sector.
The investments in this sphere as a whole were formed through the internal sources. Some 914.7 million manat ($538 million) was invested in fixed capital in the field of tourist accommodation and catering in 2015-2018.
As reported, 65.8 percent or 602.2 million manat ($354.2 million) accounted for tourism while 34.2 percent or 312.5 million manat ($183.8 million) was allocated for rendering the catering services.
In this sphere, steady growth was observed in terms of value added, which amounted to 6.4 percent in 2019.
The growth rate was 2.1 percent in 2016, 6.9 percent in 2017 and 7.6 percent in 2018.
The production of value added in this sphere amounted to 1.9 million manat (or $1.2 million) in 2019.
Azerbaijan received 3.2 million visitors (guests, foreign citizens) in 2019, which is 11.3 percent more than in 2018.
Some 29.4 percent of them were Russian citizens, 22.9 percent – Georgian citizens, 10 percent – Turkish citizens, 8.1 percent – Iranian citizens, 3.4 percent - Saudi Arabian citizens, 2.2 percent – citizens from the United Arab Emirates, 2.1 percent – Indian citizens, 1.9 percent – Ukrainian citizens, 1.6 percent – Turkmen citizens, 1.6 percent – Iraqi citizens, 1.5 percent – Kazakh citizens, 1.5 percent – citizens from Pakistan, 1.5 percent – Israeli citizens, 1.2 percent – citizens from the UK, 11 percent – citizens from other countries, 0.1 percent - stateless people.
According to the report, 2.9 million manat (or $1.7 million) was spent in Azerbaijan by foreigners and stateless people who visited the country in 2019.