World Bank: Azerbaijani businesses must gain bigger share of tourism revenues

Azerbaijan needs to develop new tourism products to ensure that a larger share of tourism revenues reaches local entrepreneurs, according to Wael Mansour, World Bank's Chief Economist for the South Caucasus, Report informs.

Speaking at the Q&A session of the event Unlocking Tourism's Potential to Drive Economic Growth and Diversification in Baku, Mansour noted that value chains in culture, health, nature, ecotourism, and MICE (Meetings, Incentives, Conferences, and Exhibitions) tourism should be further developed.

"Local businesses must benefit more from tourists' spending. For this, the government should pursue targeted policies, create new tourism products, build human resources, and strengthen marketing campaigns in target markets," he added.