Local and foreign investors have especially focused on tourist industry within the past two years, said Head of the main tourism department of the Ministry of Youth, Sports and Tourism of Azerbaijan Namig Mammadov. A number of foreign countries show interest in development of tourism in the Caspian littoral regions. Several businessmen visited different regions of Azerbaijan in summer 2003 – social and political stability and government’s guarantee have strengthened confidence and raised attention to this king of business. Negotiations on realization of the project on development of mountain-skiing sport in Gusar province with the Kingdom of Saudi Arabia are now are in progress. In addition, the Government of Italy intends to make investments in construction of hotels in Baku.

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