Armenia Records Surge in Tourist Arrivals, with Russian Visitors Leading the Influx

Armenia has witnessed a substantial surge in tourist arrivals during the first nine months of 2023, according to the latest data presented by RA Minister of Finance Vahe Hovhannisyan. In a recent discussion about the draft law "On the State Budget of the Republic of Armenia for 2024," Minister Hovhannisyan revealed a remarkable increase of 48.8 percent in the number of tourists visiting the country from January to September.

"The tourism sector in Armenia has experienced significant growth, with an overall increase of nearly 50 percent in the number of visitors during the first three quarters of this year," stated Minister Hovhannisyan. He further elaborated that the surge in tourism was particularly notable from the Russian Federation, with a remarkable 64.3 percent increase in Russian tourists visiting Armenia during the same period.

The total number of tourists visiting Armenia reached a remarkable 1 million 850 thousand, with 945 thousand visitors coming from Russia and 905 thousand from various other countries around the world.

Despite the positive momentum in the tourism sector, Minister Hovhannisyan also highlighted certain challenges. He noted a declining trend in remittances, attributing this to the high level of remittances recorded in the previous year. "We have observed a decrease in non-commercial money transfers, leading to a reduction in the net inflow of money transfers through banks to individuals," explained Minister Hovhannisyan.

The Armenian government is optimistic about the tourism industry's prospects, especially considering the continuous growth in the number of tourists, particularly from Russia. The surge in international visitors underscores Armenia's appeal as a tourist destination and signals positive economic developments for the country. As the tourism sector continues to thrive, Armenia is well-positioned to capitalize on its rich cultural heritage and scenic attractions, further enhancing its status as a premier tourist destination in the region.