Azerbaijan enters top ten in terms of middle-income growth rate

Azerbaijan ranks fifth among the Central and Eastern European countries (CEE) in the growth rate of households projected to have a disposable income of over $25,000, Report informs, citing Fitch Solutions.

The number of households projected to have a disposable income of over $25,000 will grow by 24.4% to 695,000 in Azerbaijan. The number of households projected to have a disposable income of over $25,000 will constitute 31.7% of total households.

The economic expansion of Central and Eastern European (CEE) markets and their rising wealth levels will create a growing pool of potential tourists to target. Markets in the region are set to become attractive source markets of focus for marketing (by hotel groups and tourism authorities) and aviation connectivity for tourism destinations throughout Europe and MENA, but also for longer haul destinations in the Americas, Asia, and Africa. CEE markets are set to record some of the strongest middle-income growth over the medium term (2023-2027).