Investments in Tourism Stopped in Azerbaijan
OREANDA-NEWS. February 21, 2012. State Statistics Committee of Azerbaijan has stated cease of investments in tourist placement sector upon completion of Tourism Year (2011 was announced Tourism Year in the country).
The Committee reports that in January 2012 no investments were made in tourist placement sector , although last year they made AZN 500.000.
The investment crisis did not prevent rise of the sector itself. According to State Statistics Committee’s data added value in this sector was made for AZN 49.2 million in January 2012 , which exceeded tourism GDP of January 2011 ( AZN 41.7 million) by 15.7%.
In January tourists provided 1.2% GDP to Azerbaijan ( AZN 4.091 bn) against 1.08% in January 2011.