Armenian government plans to set up tourism development fund

The Armenian government plans to set up a tourism development fund targeted at securing more efficient marketing policy on tourism. The draft was presented at the Armenian Cabinet meeting on Thursday by economic development minister Tigran Khachatryan.

In order to ensure the normal operation of the Armenian Tourism Development Fund, it is proposed to redistribute state budget funds for 2017 and allocate 30 million drams to the Fund in the second half of the year.

Under the Armenian Government’s program, it is planned to bring the number of inbound tourist visits to Armenia to 3 million annually within the next 5 years, providing at least $ 3 billion in revenue annually.