The restoration of the Baku–Tbilisi passenger rail service could generate an additional $200 million in tourism revenues, according to investment bank Galt & Taggart. The firm estimates that Azerbaijan-related tourism income could reach $435 million by 2026 once the route resumes full operation.
The bank notes that the railway carried around 19,000 tourists in 2019 before its suspension in 2020. It also highlights that nearly half of passengers came from third countries, including China, suggesting broader regional tourism benefits beyond bilateral travel.
Galt & Taggart says Georgia’s overall tourism outlook for 2026 remains at $4.9 billion, despite short-term losses linked to Middle East instability. The reopening of the rail link is expected to offset some of this decline by boosting arrivals from Azerbaijan and transit travelers.
Passenger rail service between Georgia and Azerbaijan is set to resume on May 26, with early demand already strong—over 1,000 tickets have reportedly been sold shortly after bookings opened, according to regional media citing Azerbaijan Railways.
