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Azerbaijan, [a] officially the Republic of Azerbaijan, [b] is a transcontinental and landlocked country at the boundary of West Asia and Eastern Europe. [10] It is a part of the South Caucasus region and is bounded by the Caspian Sea to the east, Russia's republic of Dagestan to the north, Georgia to the northwest, Armenia and Turkey to the west, and Iran to the south.
After more than 80 years of being part of the Russian Empire in the Caucasus, the Azerbaijan Democratic Republic was established in 1918. The name "Azerbaijan", adopted by the ruling Musavat Party for political reasons, [14] [15] had been used to identify the adjacent region of northwestern Iran.
Tourism is an important part of the economy of Azerbaijan. The country was a well-known tourist spot in the 1980s. However, the fall of the Soviet Union, and the First Nagorno-Karabakh War during the 1988–1994 period, damaged the tourist industry and the image of Azerbaijan as a tourist destination. [55]
Azerbaijan, officially the Republic of Azerbaijan, is a transcontinental and landlocked country at the boundary of West Asia and Eastern Europe. It is a part of the South Caucasus region and is bounded by the Caspian Sea to the east, Russia's republic of Dagestan to the north, Georgia to the northwest, Armenia and Turkey to the west, and Iran ...
The economic history of Azerbaijan covers the development of the country's economy from its incorporation into the Russian empire at the beginning of the 19th Century, through the period of independence under the Democratic Republic (1918-1920), as part of the Soviet Union (1920-1991) and subsequent transition to the Republic of Azerbaijan (post 1992).
OECD, the Organisation for Economic Co-operation and Development, to stimulate economic progress and world trade, countries committed to democracy and the market economy, most OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
The Human Development Index (HDI) is a summary index assessing countries on 3 dimensions, health, education and standard of living using life expectancy at birth, expected years of schooling for children and mean years of schooling for adults, and GNI PPP per capita. The final HDI is a value between 0 and 1 with countries grouped into four ...
Azerbaijan: 0.765: 4 Ganja-Dashkesen Economic Region: 0.740 5 Guba- Khacmaz Economic Region: 0.738 6 Northern Karabakh Economic Region: 0.724 7 Qazakh- Tovuz Economic Region: 0.724 8 East Zangezur Economic Region: 0.720 9 Lankaran Economic Region: 0.718 10 Salyan- Shirvan Economic Region: 0.715 11 Central Aran Economic Region: 0.712 12 Mil ...