The World Bank Group’s Board of Executive Directors has greenlit a landmark $100 million loan to Armenia, aimed at revolutionizing the country’s tourism infrastructure and unlocking new economic opportunities. The Armenia Tourism and Regional Infrastructure Project (TRIP) will directly benefit over 180,000 residents and more than 750,000 tourists annually, with a vision to create jobs, attract private capital, and foster sustainable growth in seven prioritized clusters: Areni, Dilijan, Dvin, Goris, Gyumri, Jermuk, and Yeghegis.
Why Tourism? Armenia’s Economic Shift and Untapped Potential
Armenia’s economy has been steadily transitioning from agriculture to services, with tourism emerging as a key driver. By 2024, services accounted for nearly half of Armenia’s GDP and over 60% of employment. International arrivals peaked at 2.3 million in 2023, contributing 13.4% to GDP and 15% to total employment.
