Knowledge documents
03 October 2024
Investing in Armenia: Economic growth and tourism boom
Knowledge documents
03 October 2024
Adventure tourism
Coastal, maritime and inland water tourism
Cultural tourism
+43 more
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Armenia’s booming tourism sector, impressive economic growth, and favorable investment climate make it an attractive destination for investors.
UNWTO
Topics
Armenia
Academic/Research and VET Institutions
Company with 250 or more employees
Consumer / tourist organisation
Cultural and Heritage Organisations
Destination Management & Marketing Organisations
EU institutions
Financial Institutions and Investors
Industry Associations and Chambers of Commerce
International Organisations
Local authorities
Media/Travel Journalist Organisations
National authorities
Networks and Federations / Confederations
NGOs / Non-profits
Regional authorities
SMEs (a company with less than 250 employees)
Trade Unions
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Specific types of tourism
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Adventure tourism
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Coastal, maritime and inland water tourism
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Cultural tourism
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Ecotourism
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Education tourism
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Festival tourism
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Gastronomy tourism
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Health and medical tourism
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MICE tourism
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Mountain tourism
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Religious tourism
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Rural tourism
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Sports tourism
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Urban/city tourism
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Wellness tourism
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Transition Pathway Strategic Areas
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Accessible tourism services
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Coordinated information on travelling
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Governance of tourism destinations
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Improving statistics and indicators
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Innovative tourism services
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Business activities
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Activities of amusement parks and theme parks
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Activities of associations and other organisations supporting tourism
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Air passenger transport
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Camping grounds, recreational vehicle parks and trailer parks
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Events catering and other food services
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Festivals, cultural and entertainment activities
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Gardens and nature reserves activities
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Holiday Housing / Apartments and other short stay accommodation
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Hotel and similar accommodation
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Mobile beverage services
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Mobile food services
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Museums
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Operation of historical sites
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Other
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Other accommodation
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Other amusement and recreation activities
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Other food and beverage services
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Other holiday reservation services
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Other tourism transportation activities
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Rail Passenger transport
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Recreational and sport activities
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Restaurants, cafes and bars (Food and Beverage serving activities)
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Road passenger transport
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Tour operator activities
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Travel agency activities
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Water (sea, coastal and inland) passenger transport
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The “Tourism Doing Business – Investing in Armenia” guide by UN Tourism, published in 2024, highlights Armenia’s impressive economic growth and stability, with an 8.7% GDP increase in 2023 and a projected 6.0% growth for 2024. The tourism sector is booming, with 2.3 million international arrivals in 2023 and tourism receipts reaching USD 3 billion. Armenia’s favorable investment climate is bolstered by nearly USD 1 billion in FDI in 2022, a strategic location at the crossroads of Europe, Asia, and the Middle East, and a visa-free entry policy for citizens of around 70 countries. The guide also emphasizes Armenia’s rich cultural heritage and diverse tourism offerings, making it an attractive destination for investors.
#Tourism indicators #Tourism development #Destination management #Cultural preservation
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