ArmInfo. In 2025, Armenia welcomed 2.3 million tourists, while taking into account the government's annual budget for tourism development, the state spends only $1.77 per international visitor. Takuya Aoyama, renowned international hotel and investment expert, made this statement during a panel discussion at the Hospitality Investment Forum Yerevan 2026 (HIF). Comparing Armenia with Azerbaijan, which welcomed 2.5 million tourists last year, he noted that the government spends $13 per tourist.
"In other words, Armenia is gaining value. Money is one thing, but if you can't create intangible values, you won't achieve success," the expert said. Referring to the government's Strategic Action Plan for Tourism for 2026-2030, Aoyama emphasized that the primary challenges facing Armenia include increasing international brand awareness, a lack of precise data on the seasonality of tourist flows, an insufficiently favorable investment environment, and concerns regarding inclusivity, sustainability, and accessibility.
He also highlighted the government's intention to transform Armenia into a boutique tourism destination, capitalizing on its cultural heritage, gastronomy, and adventure tourism opportunities.
According to Aoyama, Armenia possesses resources that can be effectively presented and promoted on the international market. In this context, he pointed to the importance of engaging the Armenian diaspora in terms of investment in the tourism sector. "The authorities are developing sound strategies and investing funds, but if these efforts do not generate interest in Armenia as a tourist destination, growth will remain elusive," said Aoyama.
He also presented general data on Armenia's tourism industry. Specifically, according to him, tourism accounts for 14.4% of the country's GDP. Armenia is primarily visited by tourists from Russia, Georgia, Iran, European countries, and the United States. The Chinese and Indian markets are showing strong growth, but they have not yet reached significant volumes in terms of absolute numbers of tourists.
Citing data from the hospitality consulting firm JPS, Aoyama reported approximately 23 branded hotel projects, totaling around 2,700 rooms. The majority are concentrated in Yerevan, with a smaller portion located in Dilijan, Tsaghkadzor, and other areas.
According to him, hotels in the mid-range segment (average room rate of EUR 94–95) report occupancy levels reaching 70%, while the luxury segment (room rates from EUR 127) sees a 63% occupancy rate. The expert emphasized that these figures are approximate.
It should be noted that, according to the Tourism Committee of Armenia, 825,400 tourists visited Armenia from January to May, a 19.3% increase compared to the same period last year. According to the Tourism Committee of Armenia, the number of tourists reached almost 200,000 in May alone. Compared to April of this year, this represents a 15.5% increase, and compared to May 2025, a 9.9% increase. The top three countries whose citizens most frequently choose Armenia for vacation are Russia, Georgia, and Iran. For the entire year of 2025, Armenia hosted 2.3 million tourists, with an annual growth rate of 2.5%.
