Investment Projects, Business Armenia Ski Resort in Vanadzor | Page 5

Project Description This project seeks to uncover Vanadzor’s tourism potential by developing tourism infrastructure. Particularly, the project aims to establish a modern ski resort, to develop winter sports, entertainment and eco-tourism in Lori Marz. For this reason, a new tourism destination in Northern Armenia will be established. Surrounded by lofty mountains and located between Tbilisi (Georgia) and Yerevan (Armenia), Vanadzor has a great potential to become an easily accessible resort city offering quality services for affordable prices to local and international tourists alike. Being the capital of Lori Marz, Vanadzor has a population of about 90.000 people and is the third largest city in Armenia. With its stunning landscape, green mountains and mild weather, Vanadzor has already become a lovely summer destination, where tourists have a chance to stroll around and enjoy nice weather, organize picnics with family and friends, have a great time in pubs and cafes and admire beautiful nature. Still, the full potential of Vanadzor city hasn’t been realized yet: it can offer much more in terms of diversifying its services, improving service quality, as well as becoming an exceptionally attractive winter destination. Vanadzor is an ideal winter sports destination since it has heavy snowfall, but mild temperature with plenty of daylight. In contrast with other resort areas in Armenia, Vanadzor has substantially less winds and the snow has a tendency to remain on the mountains much longer. On Maymekh Mountain, snow can be seen even in July. During the Soviet era, the USSR Central Tourism Institute recognized Vanadzor as one of the best winter destinations. Thus, the creation of a modern resort center on Maymekh Mountain has a great development potential and is highly recommended. 4