Factors Affecting the Formation of Revenues in the Tourism Sector: An Econometric Analysis Based on the Case of Azerbaijan Factors Affecting the Formation of Revenues in the Tourism Sector: An Econometric Analysis Based on the Case of Azerbaijan

Ayan Ibragimovna Mirzayeva

Journal number 3 ∘ Ayan Ibragimovna Mirzayeva ∘
Factors Affecting the Formation of Revenues in the Tourism Sector: An Econometric Analysis Based on the Case of Azerbaijan Factors Affecting the Formation of Revenues in the Tourism Sector: An Econometric Analysis Based on the Case of Azerbaijan

Expanded Summary

In the article, the impact of investments in the tourism sector of the Republic of Azerbaijan on the flow of foreign tourists and economic indicators of the sector is discussed. The purpose of the study is a quantitative assessment of the influence of capital invested in infrastructure, marketing and promotion of tourism, on the number of tourists and income of enterprises.

The study used econometric regression models with dummy variables that take into account the impact of the COVID-19 pandemic. The results show that the increase in investment has a positive effect on tourist flows and income growth, while the pandemic reduces the TMG/UDM indicator by approximately 34%, demonstrating the sector\'s sensitivity to external shocks.

The obtained results have practical significance from the point of view of the formation of strategic investment decisions and state policy in the tourism sector and create an analytical basis for long-term development.

Keywords: tourism revenues, econometric modeling, economic impact of tourism, tourism and sustainable development, regional economic development, tourism infrastructure, economic growth.

EKONOMISTI The international scientific and analytical, reviewed, printing and electronic journal of Paata Gugushvili Institute of Economics of Ivane Javakhishvili Tbilisi State University

DOI: 10.52340/EKONOMISTI DOI: 10.36172/EKONOMISTI E ISSN 2346-8432 Print ISSN 1987-6890	Journal number 3 ∘ Ayan Ibragimovna Mirzayeva ∘ Factors Affecting the Formation of Revenues in the Tourism Sector: An Econometric Analysis Based on the Case of Azerbaijan Factors Affecting the Formation of Revenues in the Tourism Sector: An Econometric Analysis Based on the Case of Azerbaijan Expanded Summary In the article, the impact of investments in the tourism sector of the Republic of Azerbaijan on the flow of foreign tourists and economic indicators of the sector is discussed. The purpose of the study is a quantitative assessment of the influence of capital invested in infrastructure, marketing and promotion of tourism, on the number of tourists and income of enterprises. The study used econometric regression models with dummy variables that take into account the impact of the COVID-19 pandemic. The results show that the increase in investment has a positive effect on tourist flows and income growth, while the pandemic reduces the TMG/UDM indicator by approximately 34%, demonstrating the sector\'s sensitivity to external shocks. The obtained results have practical significance from the point of view of the formation of strategic investment decisions and state policy in the tourism sector and create an analytical basis for long-term development. Keywords: tourism revenues, econometric modeling, economic impact of tourism, tourism and sustainable development, regional economic development, tourism infrastructure, economic growth.