Azerbaijan has a great potential for developing the tourism industry - ancient cities, palaces, fortresses, mausoleums, mosques.There is a possibility of organizing most types of tourism for attracting internal and foreign tourists. Due to substantial natural potential of Azerbaijan in respect of tourism development according to calculations, Azerbaijan places among the first 50 countries of the World for Ballasa and Net Export Indices.
The year 2011 was designated as the 'Year of Tourism'. The opening of five new five-star hotels is going to be an unprecedented event in the year 2011.
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The natural attractions of Azerbaijan include: rare climatic and terrain diversity, mountains and warm sea, medicinal hot springs, mud volcanoes and natural gas flames areas. The history of Azerbaijan and the monuments of few civilizations and religions add up to the above. The oldest Early Christian church, the only operating Fire-worshippers Temple in the world, medieval castles scattered all over the country, Old City of Baku and Maiden Tower are located here. This fact reflects Azerbaijan's current comparative advantage in the sphere of tourism among the most countries of the World. Studies show that there is a big potential for the development of business and cultural tourism, entertainment tourism, sea tourism, medical treatment tourism, religious tourism, ecological and summer resort tourism, historical tourism, rural tourism, hunting tourism and other types of tourism.
A new "State Program on the development of tourism in Azerbaijan Republic in the years of 2010-2014" was adopted very recently (President's Order dated 06.04.2010). The program aims at establishment of tourism infrastructure within high international requirements; establishment of investment and business climate by attracting domestic and foreign investments; increase of the country's tourism competitiveness in world's tourism market.
The indicator of added value in tourism sector is about 70%, which is 10% higher than the country average and lower than the same indicator for only mining and commercial activity. This fact reflects that tourism is a profitable activity type in Azerbaijan.
Reasons to invest in tourism sector:
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Existence of legislative basis regulating development of tourism sector;
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Acceptance of tourism as a priority sphere for development of non-oil sector;
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Comparative advantage of Azerbaijan in the World for development of tourism;
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Multiplicative effect of the sector on national economy. Thus, employment grows at a macroeconomic level, living standards raise and indicators of the trade balance improve;
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Positive impact on development of infrastructure and subsidiary sectors;
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Big potential of Azerbaijan for attracting foreign tourists from Iran, Russia and Central Asia. On the other hand, Azerbaijan located at geographically favourable location between Europe and Asia.
Potential areas for development:
- Business and cultural tourism;
- Entertainment tourism;
- Sea tourism;
- Medical treatment tourism;
- Religious tourism;
- Ecological and summer resort tourism;
- Historical tourism;
- Rural tourism.
