Hotels in Azerbaijan Receive Balance Profit of 31.4 Million Manat
Baku / 13.09.17Turan: In the first half of this year, hotels and other hotel-type facilities raised 136.6 million manat, which is 37.8% more than for the comparable period of 2016. According to the State Statistics Committee, the growth was achieved due to an increase in the number of accommodated persons by 42.9%.
In January-June, 602 thousand people, 68.4% of which were foreigners, were accommodated in hotels. The number of overnight stays amounted to 1 million 81 thousand people / night, 52% more than in the same period last year. The city of Baku accounts for 58.2% of overnight stays in hotels, hotels in the Gabala district account for 9.3%, hotels in the Gusar district account for 5.8%, etc.
The cost of maintaining hotels for the first six months of this year amounted to 105.2 million manat. Thus, the balance sheet profit of hotels in the first half of the year was 31.4 million manat.
The hotels of Azerbaijan employed about 10 thousand people at the beginning of July this year, 12% more than for the comparable period last year. The average monthly salary of hotel workers for the period increased by 11% and reached 580 manat. -------08D
Economics
-
Azerbaijan is poised to increase wheat imports for the 2024-2025 season following a significant drop in domestic wheat production this year. According to data from the State Statistics Committee, the country harvested 1.68 million tons of wheat in 2024, marking an 8.1% decline from the previous year. This downturn in output, combined with rising import volumes in recent months, indicates that Azerbaijan may lean more heavily on foreign suppliers to meet its wheat needs.
-
Azerbaijan Railways CJSC (ADY) has announced the restructuring of its container transportation management in an effort to enhance the efficiency of transit cargo transportation. As part of this reorganization, ADY Express will merge with ADY Container starting on November 1, 2024. The consolidation is aimed at expanding the range of services offered in both container and carriage transportation.
-
Azerbaijan has introduced a legal framework enabling the electronic state registration of legal entities with foreign investments, regardless of whether their founders are individuals or legal entities, according to the State Tax Service. The announcement was made by Samira Musayeva, Deputy Head of the State Tax Service, during a meeting of the "Entering Business" Working Group.
-
The World Bank aims to deepen its involvement in Azerbaijan's economic development through a new partnership framework program, according to discussions between Azerbaijani officials and World Bank representatives. The proposed framework, which will cover the years 2025-2029, is designed to support the country’s transition to an innovative and less resource-dependent economy.
Leave a review