Investment Projects, Business Armenia Tsaghkadzor hotel | Page 6

Hospitality industry in Armenia
A pro-business environment to locate a regional headquarter
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A favorable investment climate in Armenia:
Company incorporation is completed in 2 working days
100% foreign ownership is permitted
Investment protection implies 5-year guarantee protection against changes of
legislation on investments
A sound and well-regulated banking system
Free exchange of foreign currencies and repatriation of profit
Competitive operational costs
Tourism sector in Armenia
Tourism industry in Armenia has been in stable growth throughout past years with on
average 11% annual growth rate. According to the official website of National Statistical
Services and World Bank Data, Armenia had 1,494,779 1 tourists in 2017, a number which has
tripled during the last 10 years. In the following forecasts a conservative 12% growth rate is
applied, reaching more than 2 mln tourists by 2020.
Number of international tourists in Armenia
3,000,000
2,000,000
963,035
1,081,985
1,203,746
1,192,120
1,259,657 1,494,779
1,674,152
1,875,051
2,100,057
1,000,000
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2012
2013
2014
2015
2016
Source: NSS RA
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http://armstat.am/am/
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2017 2018(F) 2019(F) 2020(F)