Uzbekistan’s tourism industry puts in 11.9% growth in 2M24 with 972,400 visitors

Uzbekistan’s tourism industry puts in 11.9% growth in 2M24 with 972,400 visitors
The government has invested very heavily into tourism promotion with very good results, putting Uzbekistan on the map for many tourists. / bne IntelliNews
By Ben Aris in Berlin March 24, 2024

Uzbekistan's tourism sector has experienced a significant uptick in the initial months of 2024, with visitor numbers soaring to 974,200, a robust 11.9% increase from the previous year, Daryo reported on March 19.

The government has invested very heavily into tourism promotion with very good results, putting Uzbekistan on the map for many tourists. It has also been investing into tourist infrastructure including a range of hotels in all budget ranges.

The surge in tourist arrivals saw a substantial influx from neighbouring countries, with Tajikistan leading the pack, accounting for 363,300 visitors. Kyrgyzstan and Kazakhstan also contributed significantly to the tourism boom, bringing in 291,100 and 155,900 tourists respectively.

Contrastingly, the number of tourists from farther afield, such as China, South Korea and Belarus, remained modest, with respective visitor counts of 5,500, 5,400 and 2,200 since the year's start.

In a bid to further boost its tourism industry, Uzbekistan has set an ambitious target of attracting 10mn tourists within the year. The country has already made substantial strides in this direction, securing $1bn in tourism-related investments by October 2023.

Reflecting on the previous year, Uzbekistan welcomed 773,300 foreign visitors in 2023, predominantly for leisure and recreation. Russia emerged as a key source of tourists, contributing 235,300 visitors. A notable drop in travel costs in December 2023, with prices falling by 3.4% compared to November, likely enhanced Uzbekistan's attractiveness to Russian travellers.

Kazakhstan and Kyrgyzstan also played significant roles in boosting Uzbekistan's tourist numbers in 2023, with 63,400 and 43,800 visitors respectively, underscoring the regional importance of Uzbekistan's tourism sector.

Related Articles

Net income at Freedom Holding Corp more than doubles in fiscal 2026

Freedom Holding Corp (Nasdaq: FRHC) slightly more than doubled its net income to $153.3mn in its fiscal year to March 31 from from $76.2mn in the previous fiscal 12 months, the international ... more

Eurasian Development Bank redeems €286mn Eurobond

The Eurasian Development Bank (EDB) said on March 26 it had fully redeemed a five-year Eurobond, meeting all obligations to investors at maturity. The bank paid a total of €286mn, covering both ... more

Georgia’s TBC Bank weighs up separate IPO for TBC Uzbekistan digital bank

London-listed TBC Bank Group PLC (LON: TBCG) is weighing up conducting a separate initial public offering (IPO) for its TBC Uzbekistan digital bank business. Reuters on February 24 ... more

Dismiss
liveChat() ?>