12:29 - 16.09.2025

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September 16, Fineko/abc.az. Foreign tourists who arrived in Azerbaijan for the Formula 1 race in 2024 spent 85% more than in 2023.

ABC.AZ informs that Emil Zeynalov, Mastercard's manager for Azerbaijan, made the above-said statemetn at a press conference on the impact of international sporting events on the economy.

He added that growth was provided by tourists' spending on goods and services.

“Thus, the number of foreign visitors increased by 87%, their expenses – by 85%, and the number of banking transactions - by 77%. Spending on accommodation (by 127%) and meals (by 141%) increased especially noticeably. For example, tourists from Turkey have tripled their spending on hotels, and guests from the UK have quadrupled their spending on restaurants. Such events are not just a sporting event, but also a great economic opportunity for the country,” Zeynalov said.