Armenia – destination 2001 : economic analysis of tourism industry in Armenia, cleanup acts

Abstract

This project has been developed by Armenian Tourism Association (ATA) to raise equity capital. It describes activities, time schedule of realization and estimated budget. It also clarifies the notion Armenia – destination 2001. Prior to involving human and other resources in the programs ATA planned to reveal impacts of tourism industry onto Armenian economy. Project includes calculation of multiplier effect of tourism sector on the whole economy of the country. There are descriptions of methodology and limitations of fulfilled works, the main concepts and definitions, statistical data, several illustrations from world practice, figures and highlights, which are presented in comparable bases. The result of this economic study is the calculation of multiplier which determines how much direct expenditures of a tourist generate indirect profit in GDP. The study is made to have a reasonable basis for fund raising. The results are used in promoting marketing strategy to elaborate with sponsors and advertisement campaign for mass awareness. Much attention paid on sponsors classification and acknowledgement. Based on the detailed financial projections prepared it is estimated that $27,100 of equity investment is required. The funds received will be used to finance initial activities, to provide Armenian sights in cleaned and ready conditions for tourists. The research will serve as a tool to achieve the main goal of the association, that is to assure that Armenia is a tourist country and get agreements with different worldwide famous companies to collaborate, use their experience and develop tourism in our country.