Kazakhstan’s Tourism Revival Attracts International Visitors and $1.8 Billion in Investment
Kazakhstan’s tourism sector is undergoing a notable resurgence, with a growing number of both international visitors and domestic travelers exploring the country. According to analysts at Ranking.kz, this revival is not merely inflation-driven; it reflects substantial structural changes and targeted investment in tourism infrastructure. Data from the National Statistics Bureau (NSB) shows that in 2024, the total volume of services provided by hotels, motels, and other accommodation facilities reached KZT 299.8 billion (approximately $580 million), marking a 30.8% increase from the previous year. Tax revenues from tourism-related businesses rose by 25.1% year-on-year to KZT 254 billion (about $492 million), underscoring the sector’s expanding fiscal footprint. Tourism continues to attract both domestic and international investors. In 2024, capital investment in the sector totaled KZT 947.5 billion ($1.8 billion), encompassing both private funding for resort and hotel construction and public subsidies aimed at developing tourism infrastructure. Throughout 2024, investment in fixed capital across the hospitality, arts, entertainment, and recreation sectors reached KZT 321.1 billion ($622 million). Of that, KZT 163.8 billion ($317 million) was directed toward accommodation and food services. In the first quarter of 2025, investment in these areas rose by a further 6.5%. The Almaty agglomeration, home to the Zailiyskiy Alatau ski resorts and scenic natural areas, remains a top destination for investment. In 2024, it accounted for 17.4% of total capital investments in the HoReCa (Hotels, Restaurants, and Catering) and entertainment sectors. Currently, approximately 55 large-scale investment projects are in development across Kazakhstan’s tourism sector. Notable among them are the creation of a multifunctional tourist quarter in Astana, the Aqbura Resort in the Akmola region, and the expansion of the Oi-Qaragai ski resort, one of the largest in Central Asia. The Oi-Qaragai development includes the construction of a new four-star hotel and significant upgrades to tourism infrastructure. With an estimated total investment of $150 million, the project is expected to generate over 1,200 new jobs. So far, $44.5 million has been invested, with an additional $57.4 million projected by the end of 2025.