On July 30, the Chairman of the Central Bank of Armenia, Martin Galstyan, reported a significant decrease in the number of Indian migrants in the country. During a press conference focused on the refinancing rate, he presented up-to-date data on this matter.
According to Galstyan, as of the end of June, 35% of Indian nationals who had come to Armenia have left the country. "At its peak, there were 17,000 Indians in Armenia, but now the number has decreased to 11,000," he noted.
This decline is part of a broader trend of reduced numbers of foreign visitors, including both labor migrants and tourists. Galstyan emphasized that this trend has led to a decrease in external demand, affecting both highly skilled and low-skilled workers.
The Central Bank Chairman also pointed out a negative trend in inbound tourism. He noted that the numbers of incoming tourists are lower than last year, and spending per tourist is also decreasing.
These factors are impacting the country's economy. In particular, Galstyan highlighted a slowdown in inflation rates in the services sector and predicted a decrease in growth rates in the near future.
Earlier, BMG reported that the Armenian Tourism Committee released data showing a decrease in the number of tourist visits to Armenia in June of this year. According to the report, 180,718 tourists visited Armenia in June, which is 9.3% lower compared to 199,159 tourists during the same period last year.
Overall, in the first six months of 2024, the country received 947,512 tourists, a 5.8% decrease from the previous year, when more than 1,005,163 tourists visited Armenia.
