In 2015, 536 hotels and other facilities gained 183.1 million manat, which is 1.1% more than in the previous year.. In general, their income fell by 22.5 million manat, the State Statistics Committee said.
In 2015, the overall cost of hotels totaled 171.7 million AZN, 24.6 million manat more compared to 2014.
Last year, the share of hotel rooms was 63.3%, and services for drinks and food were 23.8% of the hotel revenue.
One-third of the total number of one-time capacity of hotels (38.5 thousand) accounted for a share of Baku. In the regions, the highest concentration of hotel facilities is available in the resort region of Khachmaz (16.5%).
In Azerbaijan, 31 hotels have been awarded five stars, 70 hotels - 4 star s and 29 hotels - 3 stars.
It is noteworthy that in 2015 the total number of employees of hotels decreased by 645 and was 8,364 at the beginning of 2016. Their average salary was 521 manat per month last year. --- 08D
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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