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Record Growth Forecasted for Azerbaijan’s Travel & Tourism in 2025 – Image Credit Unsplash
Azerbaijan’s Travel & Tourism Sector Anticipated to Significantly Boost Economy and Employment in 2025
According to a recent forecast by the World Travel & Tourism Council (WTTC), Azerbaijan’s travel and tourism sector is poised for substantial growth in 2025. The sector is expected to contribute approximately 10.3 billion rubles to the national economy, marking a 32% increase from the previous year and accounting for 8.2% of the total GDP. This growth indicates a robust recovery and a significant economic impact, positioning the sector as a critical component of the national economy.
Employment and Visitor Spending
Azerbaijan’s travel and tourism sector is not only boosting the economy in terms of GDP contribution but is also a significant employment generator. It is projected to support 472,000 jobs in 2025, representing nearly 10% of national employment. This underscores the sector’s role as a major employer within the country.
In terms of spending, international visitor expenditure is expected to reach 5.5 billion rubles, fully recovering to post-pandemic levels. More notably, domestic visitor spending is anticipated to hit a new record of 3.8 billion rubles, demonstrating significant growth and interest in local travel and tourism.
Comparative Analysis with Previous Years
In 2024, the travel and tourism sector contributed 7.8 billion rubles to the economy, which was still 10% lower than the 2019 figures. However, international and domestic visitor spending showed positive trends, with international spending increasing by 29% year-on-year and domestic spending growing nearly 10% from 2023 levels. These figures set a positive precedent for the expected growth in 2025.
Long-Term Outlook and Strategic Vision
Looking further ahead, the WTTC’s Vision 2035 forecasts even more optimistic growth for Azerbaijan’s travel and tourism sector. By 2035, the sector is expected to contribute over 17 billion rubles to the economy, accounting for almost 11% of GDP. Additionally, the sector is projected to support nearly 670,000 jobs, creating almost 200,000 new jobs over the next decade.
The balanced growth in both international and domestic visitor spending highlights the sector’s potential for sustained growth and its importance in Azerbaijan’s long-term economic strategy. This growth is attributed to the country’s ongoing efforts to diversify its tourism offerings, promote its culture, and develop sustainable tourism practices.
