In 2014, Azerbaijan was visited by 2.3 million foreign tourists, the head of the Tourism Department of the Ministry of Culture and Tourism (MCT) Aydin Ismiyev told Turan.
Two months later, Baku will host the first European Games. According to the ministry’s official, accommodations in Baku (12,000) are sufficient for the expected reception of foreign tourists who will follow these competitions. However, it is unknown how many foreigners will visit Baku in those days (12-28 June).
Referring to the cost of tourist services in Azerbaijan, Ismiyev said that they are acceptable, and the quality of tour services increases every year. According to him, the ministry has prepared a new draft law "On Tourism", which aims to improve these services to a new level.
According to the State Statistics Committee, in 2013, Azerbaijan was visited by 2.5 million foreigners, of which 85% (2 million 129.5 thousand) traveled for tourism purposes.
According to the balance of payments for 2014 released by the Central Bank, last year foreign tourists spent $ 2.4 billion in Azerbaijan. But our citizens took $ 3 billion abroad for holiday and relaxation. One foreign tourist spends an average of $ 700 in Azerbaijan. ---08B
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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Azerbaijan's non-oil and gas exports rose 3.5% year-on-year to $2.8 billion during the first ten months of 2024, the Center for Analysis of Economic Reforms and Communication (CAERC) reported in its November "Export Review."
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Azerbaijan Railways CJSC (ADY) will modify the schedules for commuter and domestic trains in line with the Cabinet of Ministers' decision to adjust work and rest days in November, aiming to ensure safe and comfortable travel during the COP29 event, the company announced.
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In Azerbaijan, the government has increasingly relied on tax exemptions for imported goods as a tool to stabilize domestic market prices. The exemption from the 18% VAT on wheat imports, extended this year, exemplifies this approach. New measures have also been introduced, including tax relief on imports of electric vehicle chargers, while exemptions for high-cost medications are currently under discussion. Notably, defense imports continue to be free from taxes and customs duties.
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