Assessment of the tourism services exports impact on the economic development of Azerbaijan

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Qasımov Ə., Hüseynov R., Azizova G., İbishov E.

2nd International Scientific Research Congress (SILK ROAD),, vol.6, no.978-625-367-345-1, pp.1512-1518, 2023 (Conference Book)

Qısa məlumat

The main purpose of the presented article is to evaluate the impact of tourism services export on the economic development. Based on the economic development experiences of the world countries, we could say that the foreign trade, especially the growth of exports, have a very positive effect on the diversification of exports, increasing the population's income and the progress of other sectors. By considering the global statistics, we can see that the share of goods and services in world foreign trade is increasing. Developments in information and communication technologies in recent years have led to further expansion of services exports. In 2022, the share of services in total exports was 22.5%, and this amount is increasing constantly. By considering the different types of services exports, we could say that one of the most important sectors in this field is tourism. Although there has been a decline in the world tourism services exports due to the global pandemic in recent years, tourism services exports are currently being second in the amount of world services exports. Based on the growth of tourism services and its increasing impacts on the economy, it can be emphasized that this sector is one of the most important sectors in the economy. Republic of Azerbaijan in its first independence periods has given great importance to foreign trade, and the development of this field has been one of the priority issues in its economic strategy. We believe that tourism services can play an important role in the Azerbaijan’s export, as well as have a multiplier effect in diversifying exports, increasing government income and developing other areas of the economy. For this reason, in order to verify the validity of the hypothesis, an econometric evaluation was carried out and it was observed that there is a positive relationship between Azerbaijan's tourism services export and GDP.