11,000 of the 17,000 Indian Citizens Who Arrived in Armenia Remain, Says CBA Head

The external demand for Armenia has decreased, resulting in a decline in per capita spending by incoming tourists. This was stated today, July 30, at a press conference by the Head of the Central Bank, Martin Galstyan.

“In addition, we had foreign labor migrants, some of whom, according to our statistics, are already leaving Armenia. This applies not only to high-skilled individuals but also to low-skilled ones,” he said.

Galstyan cited Indian citizens as an example: “25% of the Indian citizens who came to the RA are no longer in the country, indicating a weakening of external demand. They began arriving at the beginning of last year, peaking at 17,000 Indian citizens; according to the latest observations, only 11,000 remain,” he added.

He also noted that a slowdown in the inflation rates in the services sector is being observed.