Economics

Armenia to set up Tourism Development Fund

Armenia will set up a Tourism Development Fund with a view of ensuring a more efficient implementation of the government policy in the field of tourism. The government made a corresponding decision today.

The executive believes that the creation of the fund will contribute to the cooperation with international organizations and help attract funds and other resources needed for implementation of targeted measures.

The government’s action plan envisages increasing the number of incoming tourism visits to 3 million annually, thus ensuring revenues amounting to at least $3 billion

Establishment of a specialized structure will ensure a better promotion for Armenia and its tourism on the global, regional and domestic markets. It will also help achieve better and more competitive results and reach the goals set by the government action plan.

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