Studying the impact of tourism on economic growth in Azerbaijan

Summary

Tourism, which has become one of the most important sectors in many developing countries, is one of the largest and fastest growing service sectors in the world. The effect of tourism on economic growth is a proven fact both in the literature and in practice. The main purpose of this study is to investigate the effect of tourism on economic growth in Azerbaijan within the framework of tourism economy. In this context, data for the years 1995-2020 were obtained from UNWTO. Systematic approach, analysis and synthesis methods were used in the study. As a result of the research conducted in the context of the analyzed years, the highest number of tourists came to Azerbaijan (3.17 million people) in 2019, tourism revenues were maximum (3.21 million US dollars) in 2017, and per capita tourist expenditures were highest (993 US dollars) in 2018. found. In addition, it has been determined that the share of tourism in the Gross National Product in Azerbaijan was the highest (7.5%) in 2016.