Baku’s Economic Outlook

Located in the Absheron peninsula, Baku is the capital city of Azerbaijan, hosting 23% of the population (population of Azerbaijan 10.11 million, Baku 2 3 million) 4 It has been one of the most significant port cities of the Caspian sea since the early 1800s

As can be observed from the biggest specialization of the city is in the Real Estate and Finance sector since, the city is the financial center of Azerbaijan with all banks’ headquarters accommodated here, this could be an expectable scenario

Information and communication is the second largest specialization Since all the telecommunication management staff and technology companies are located in Baku. Moreover, the biggest demand for the communication infrastructure is in the capital city, hence higher concentration of employment can be observed

Lastly, Public Sector is the third largest specialization in Baku The central part of the government offices is located in Baku (ministries, the president's office, the national assembly, etc.). Hence, the staff is accommodated in the city

Source: Own Study using State Statistical Committee Data Of The Republic Of Azerbaijan https://www.stat.gov.az/source/construction/en/5.5en.xls

Source: Own Study using the data of Architectural monuments were populated from the long list of important immovable historical and cultural monuments list.