RFE/RL reports phenomenal figures in Armenia’s tourism industry.

…The increased influx of tourists, most of them foreign nationals of Armenian descent, was particularly visible last year. Virtually all hotels in central Yerevan and flights to and from the Armenian were fully booked from August through October, the traditional peak period for travel to Armenia…

…Petrosian estimated the sector’s 2006 revenues at over $300 million…

…Ara Petrosian, a deputy minister of trade and economic development dealing with the local tourism industry, said the number will rise by almost 20 percent to 480,000…

Moreover, the figures are set to grow this year, at least that’s what the government projections are, and that’s also why RA Government plans to spend around 70 million drams ($195,000) in public funds for promotional campaigns. Now if we’re experiencing $300 million growth in that particular sector, and only investing $195,000 - I’d say that’s being greedy! But then again, at least they’re doing something… As to who’s really doing something - surely it’s the Tourists coming to Armenia and spending an average of $1000 according to the Armenia Blog.