Details added (first version posted on 12:26)
Baku, Azerbaijan, May 24
By Anvar Mammadov - Trend:
The revenues of the Azerbaijani state budget amounted to 5.6 million manats as a result of holding of the first Baku Shopping Festival, Azerbaijani Culture and Tourism Minister Abulfas Garayev said.
Garayev made remarks at a press conference dedicated to the results of the festival in Baku May 24.
He added that the revenues greatly exceeded the funds spent for holding the festival.
“We expected the country’s state budget revenues to reach around 40-50 million manats by late 2017 as a result of holding two shopping festivals,” the minister said. “Moreover, we expected certain expenses for organizational work and advertising as part of the festival."
“But the amount of revenues and expenses was different as a result of a short period and a rather tight budget,” he added. “So, 700,000 manats was spent from the state budget for holding of the shopping festival, while total expenses did not exceed 1 million manats, which means that revenues exceeded expenses by almost six times."
"We also carried out a customer satisfaction survey,” Garayevsaid. “As a result of this survey, we found out that 98 percent of the participants appreciated this festival."
The Baku Shopping Festival was held April 10-May 10. The Festival was held with organizational support of the Azerbaijan Convention Bureau under the Ministry of Culture and Tourism.
The next Baku Shopping Festival will be held in October 2017.
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