HOTEL BUSINESS SUCCESSFULLY DEVELOPING IN KARABAKH
September 22, 2005
Hotels Magazine
STEPANAKERT, SEPTEMBER 22. ARMINFO. During the recent years the hotel business has been successfully developing in the Nagorno-Karabakh Republic.
According to the report of ARMINFO correspondent in Stepanakert, major investments in this sphere of economy have been made by the Armenian diaspora of the USA, Great Britain, Australia and Switzerland. Particularly, the Sirkap Armenia Swiss company has spent about $1,500,000 on several modern hotels in the regions of Karabakh.
The hotel owners in Karabakh are satisfied with the country's tax policy. For example the manager of the "Nairi" hotel, one of the biggest hotels in Stepanakert, Mr. Akob Bulakian, a citizen of Australia, says that his hotel has been exempted from taxes for 3 years, and that the taxes he is paying now are half of what he pays in Australia. The number of hotel visitors has increased by 30% during 4 years.
In the opinion of experts, the hotel business in NKR can increase even more after the airway, connecting Stepanakert to Yerevan, is opened.
Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.
Hotels Magazine
STEPANAKERT, SEPTEMBER 22. ARMINFO. During the recent years the hotel business has been successfully developing in the Nagorno-Karabakh Republic.
According to the report of ARMINFO correspondent in Stepanakert, major investments in this sphere of economy have been made by the Armenian diaspora of the USA, Great Britain, Australia and Switzerland. Particularly, the Sirkap Armenia Swiss company has spent about $1,500,000 on several modern hotels in the regions of Karabakh.
The hotel owners in Karabakh are satisfied with the country's tax policy. For example the manager of the "Nairi" hotel, one of the biggest hotels in Stepanakert, Mr. Akob Bulakian, a citizen of Australia, says that his hotel has been exempted from taxes for 3 years, and that the taxes he is paying now are half of what he pays in Australia. The number of hotel visitors has increased by 30% during 4 years.
In the opinion of experts, the hotel business in NKR can increase even more after the airway, connecting Stepanakert to Yerevan, is opened.
Note: Above are excerpts from the article. The full article appears here. Clarifications and comments by me are contained in {}. Deletions are marked by [...]. The bold emphasis is mine.
posted by Vahe Balabanian at 8:36 PM
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