The World Bank linked Azerbaijan's long-term growth to the development of tourism

Azerbaijan's long-term economic growth and job creation will increasingly depend on the development of the non-oil sector, particularly tourism.

As Report informs, this was stated by World Bank Regional Director for the South Caucasus Rolande Pryce at the event "Unlocking Azerbaijan's Tourism Potential for Economic Growth and Diversification" in Baku.

According to her, in recent years Azerbaijan has maintained resilience to external economic shocks thanks to effective macroeconomic management, strong fiscal reserves, and well-thought-out government policies.

"Against the backdrop of a gradual decline in hydrocarbon production, the role of the non-oil sector in ensuring sustainable economic growth and creating quality jobs will increase. In this context, tourism is viewed as one of the areas with the greatest potential for accelerating economic growth and economic diversification," Pryce noted.

She added that in 2025, the economic growth rate in Azerbaijan was 1.4%. This was attributed to the continued decline in oil production and a slowdown in growth in the non-oil sector.