Azerbaijan’s tourism sector grows nearly 77 times

The added value created in Azerbaijan in the field of tourist accommodation and catering amounted to 35 million manats ($20.588 million) in 2003, and 2.684 billion manats ($1.578 billion) in 2023, which is 76.6 times more, Report informs.

Over the past 20 years, investments in fixed assets in the field of tourist accommodation and catering have increased 51.7 times and amounted to 87.9 million manats ($51.705 million).

From 2003 to 2022, the number of hotels and hospitality enterprises in Azerbaijan increased by 7.6 times and reached 727, and the one-time capacity of these facilities increased by 5.9 times.

Over these years, the number of people employed in the tourism sector of Azerbaijan has grown from 21.9 million to 87.9 million, which is four times more.