Uzbekistan’s Tourism Sector Set to Grow with 23 Luxury International Hotel Brands Entering Market
A $10 billion investment agreement has been finalized for the construction of a major development project, Sea Breeze, in Uzbekistan’s Bustanlyk district. President Shavkat Mirziyoyev chaired a videoconference meeting to discuss entrepreneurship outcomes and goals for 2025.
Entrepreneurs in the tourism sector have been active, investing 6.5 trillion UZS to launch hotels with 24,000 rooms this year. Plans for 2022 are even more ambitious, with 30,000 additional rooms to be created through a 10 trillion UZS investment by private businesses.
Seventeen large-scale commercial and tourism complexes have been operational this year, with 25 more scheduled for next year. The construction of the Sea Breeze project in Bustanlyk, valued at $10 billion, will soon commence. Uzbekistan is also set to welcome 23 world-renowned hotel brands, including Swissôtel, Sheraton, and Marriott.
To enhance trade development, a specialized company has been established and allocated $350 million to finance exports. This initiative has been successful, with every dollar invested generating $6 in export revenue. An additional $300 million will be allocated next year to further support export growth.
