Recent events to affect Armenia’s tourist sector: economist

PanARMENIAN.Net - The recent events in Armenia’s capital will affect the tourist industry, economist Gagik Makaryan told reporters on Tuesday, August 2, according to Tert.am.

Armenia’s rankings were recently increased due to the Pope’s visit and recognition of the Genocide. However, now that the events have been labeled “terrorism,” no longer a secure country for tourists, the economist said.

As regards foreign investments, Makaryan said that investment agreements in the energy sector have not been cancelled. So the recent events will not affect foreign investments in Armenia’s economy.

Russian Armenians will not discontinue their investment programs either because they are well informed of the situation in Armenia, he noted.

Diaspora Armenians will continue visiting Armenia to get acquainted with the situation.

“Migration will increase,” Makaryan said. “The reason is that large sections of Armenia’s population will be disappointed.”

A 4%-5% economic growth was forecast, yet the recent event may bring about changes in the forecasts; still, 2% economic growth could be expected.

“Steady growth is expected. It can be seen now as well. However, the authorities’ behavior after the events and their dealings with those detained will play their role.”