INVESTMENT DEPENDENCE OF TOURISM INDUSTRY AND DIFFERENCES IN ECONOMIC GROWTH IN THE REPUBLIC OF AZERBAIJAN

In addition to being a promising sector of the economy, tourism stimulates the activity of socially oriented services. Tourism involves not only the creation and management of natural and recreational zones, the purposeful use of anthropogenic tourism resources, and the preparation and promotion of tourism products, but also the organization of integrated tourism services of the tourism industry. It is from this point of view that the tourism industry is considered one of the leading branches of tourism. The need for the development of the tourism industry is explained by the fact that this sector causes the inflow of foreign exchange to the country, increases employment, regulates the financial balance, leads to the diversification of the economy, and contributes to the improvement of household incomes. In short, the tourism industry has a positive impact on the socio-economic development of the state and forms the image of the country. The main objective of the research work is to determine the investment dependence of the tourism industry and to study the factors that support regional economic growth through comparative analysis. In this context, it involves the interpretation of data related to interregional economic differences and ways to eliminate them by applying functional dependence. Several methods have been employed to achieve the stated objectives during the research process. These include mathematical and statistical calculations, a systematic-structural approach, comparative historical-geographical analysis, as well as the preparation of anamorphic maps with the assistance of GIS. The dynamic growth of the tourism industry is caused by investments allocated to it. Investments affect the creation of new jobs, the expansion of regional capital flows and other economic and social sectors. At the same time, investment in the tourism industry in this area leads to an increase in production and economic activity. The income obtained is transferred to other sectors of the economy and stimulates regional investment activity. Along with the above-mentioned positive developments, the territorial differences in the tourism industry in the Republic of Azerbaijan have become more pronounced in recent years. The analyses conducted in this direction are illustrated in various diagrams and anamorphic maps in the presented article.