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major
sectors of the economy :
jewelry and diamond processing :
manufacturing
: information
technology : natural
resources : chemicals
and pharmaceuticals : agriculture
: food
processing : tourism
: construction
and construction materials :
energy
: transport
: telecommunications
: water
Tourism
Tourism
offers some of the most attractive privatization opportunities in Armenia.
Before the break-up of the Soviet Union, tourism was an important economic
activity in Armenia. At its peak in the late 1980s approximately 700,000
tourists visited Armenia each year, of whom about 100,000 came from outside
the Soviet Union.
Armenia's main tourist attractions are its warm climate, splendid mountains,
beautiful forests, Lake Sevan set in the mountains at more than 2,000
meters above sea level, an Olympic skiing base at Tsakhkadzor, many archaeological
sites, churches, monasteries and historical monuments, and health spas
in Jermuk. There are facilities for activities such as water sports, winter
skiing, mountaineering, caving, hiking, horse riding and fishing. Armenia
has a number of spa resorts centered on medicinal springs that offer considerable
potential for health cures. There are also opportunities for so-called
"ecotourism", which includes educational/ recreational field
trips for bird watchers and botanists.
The 1988 earthquake, the Nagorno-Karabakh conflict and the subsequent
blockade of trade routes effectively stopped international tourism until
1994. Since then it has gradually picked up, with 39,000 visitors contributing
1.9 per cent to GDP in 1999.
In order to help boost prospects for the sector, the government is actively
encouraging foreign companies to invest in tourism. A licensing procedure
and general tourism law have been devised. Five zones have been identified
for tourist development:
Yerevan
itself, and the many historic and religious sites in its neighborhood,
includingGeghard
monastery, a pagan temple at Garni, and the church at Echmiadzin;
- the
Vayots Dzor district to the south of Yerevan, including the spectacular
Amaghou valley, Noravank monastery and the spa town of Jermuk;
- the
Siunik district, including dramatic mountain scenery and the Tatev monastery;
- northern
Armenia, including the second largest city, Gyumri, mountains and lakes;
- the
Lake Sevan area, including the town of Dilijan, where there is a potential
for skiing.
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