Since the beginning of this year, the Ministry of Culture and Tourism (MCT) has licensed the activity of 79 hotels and hotel-type facilities. There are 304 authorized hotels, including 134 in Baku, the ministry said.
According to the State Statistics Committee, at the beginning of this year, there were 530 facilities for receiving guests. Thus, only about 57% of them act on a legal basis. The remaining more than 200 hotels do not have a license.
According to the International Labor Conference, currently under construction are about 40 hotels.
Licensing of hotel business in Azerbaijan began in 2006. The cost of the license, which is provided for five years, is 1,500 manat, regardless of capacity and location. In addition, there is a national standard AZS 081-2006 Travel, Excursion and Services, Classification of Hotels, according to which the Ministry every three years carries out their certification, awarding from 1 to 5 stars to them. --08B--
Economics
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The Agency for the Development of Small and Medium-Sized Businesses (KOBIA), in collaboration with the Ministries of Economy and Ecology and Natural Resources, organized a conference today in Baku focusing on the role of small and medium-sized enterprises (SMEs) in advancing the green economy.
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Under the golden September sun, the Third Grape and Wine Festival took place in Shamakhi, in the village of Meysari on September 7-8, 2024, drawing wine enthusiasts and tourists alike to celebrate Azerbaijan’s ancient winemaking traditions. Organized by the State Agency for Tourism, the festival highlighted the country’s efforts to rejuvenate its viticulture industry, with a focus on boosting local production and expanding export opportunities.
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Azerbaijan has spent over $1.6 billion on large-scale infrastructure projects, including the Crystal Hall for Eurovision, the Olympic Stadium in Baku, and the Shahdag ski resort. But according to Fikret Mamedov, a graduate of London Business School and director of Sage Solutions, this spending has not provided long-term benefits for the country’s economy.
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The outcome of the 44-day Second Karabakh War in 2020 has significantly reshaped the ranking of foreign direct investment (FDI) into Azerbaijan's economy, economist Gubad Ibadoglu said in an article. Recent data show a notable rise in investments from Russia, Turkey, and China, particularly targeting the liberated territories. However, Western investments have remained limited, as barriers such as monopolies, a lack of judicial independence, and the government's classification of states as "friendly" or "unfriendly" have dampened interest.
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