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Number of Tourists from EU Countries Decreased by 16.6%
In 2016 the number of foreigners visiting Azerbaijan increased by 12.1% and reached 2 million 248.8 thousand people, the State Statistics Committee.
The number of active tourists from Arab countries (Iraq, UAE, Saudi Arabia, Qatar) has grown significantly. The intensity of tourists from Iran has increased by 66.2%, Egypt - 51.8%, China - 44.5%
According to the SSC, from CIS countries to Azerbaijan 868 thousand people came in 2016, by 8.1% more than in 2015.
Geography of the tourists changes not only for the better. For example, from the European Union 91.1 thousand people came to Azerbaijan last year. This is 16.6% less than the year before.
The Azerbaijani government softens visa procedures in relation to foreigners in order to increase the flow of tourists from different countries. However, many experts propose to abolish visas for citizens of EU countries, other European states, US, etc. ---08D
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- Social
- 23 February 2017 13:57
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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