World Bank highlights tourism's role in Azerbaijan's growth

Azerbaijan's long-term economic growth and job creation will increasingly depend on the development of the non-oil sector, particularly tourism, World Bank Regional Director for the South Caucasus Rolande Pryce said.

Speaking at the event, "Unlocking Azerbaijan's Tourism Potential for Economic Growth and Diversification," in Baku, Pryce said Azerbaijan has remained resilient to external economic shocks in recent years thanks to sound macroeconomic management, strong fiscal reserves, and effective government policies.

She noted that as hydrocarbon production gradually declines, the non-oil sector will play a greater role in supporting sustainable economic growth and creating quality jobs. In this context, tourism is viewed as one of the sectors with the greatest potential to boost growth and diversify the economy.

Pryce also said Azerbaijan's economy grew by 1.4% in 2025, attributing the slower pace to continued declines in oil production and weaker growth in the non-oil sector.