European Games Not Reflected in Income from tourism

In the first half of this year, revenues from travel services to foreign nationals in Azerbaijan amounted to $ 1 billion 105.2 million, i.e. $ 0.5 million more than in the comparable period of 2014, the balance of payments for the period says.

Experts from the NGO Assistance to Economic Initiatives note that the first European Games organized in Baku on 12-28 June had almost no impact on the income from tourism services, although the government claimed that the disclosure of tourism potential was one of the important tasks of this sporting event.

Analysis of the data for the same period shows that the outflow of foreign currency from the country on tourist services greatly accelerated in this period. Azerbaijani tourists spent $ 350 million more abroad in H1, 2015 than in January-June 2014. According to estimates of the Central Bank, they spent abroad $ 1 billion 571.7 million manats.

Thus, the deficit of tourist services totaled 466.5 million manats.

Note that Azerbaijani tourists mainly visit Europe, Turkey, Georgia, Iran and Russia. ---08D