Visa, one of the global leaders in digital payments, on September 9 presented the findings of its Visa Visitor Dynamics study for Armenia. The results were unveiled at an event in Yerevan attended by representatives of the public sector, the tourism and hospitality industries, and financial organizations.
According to the company, the study examines changes in traveller behaviour and spending patterns. Its findings show that the number of foreign visitors to Armenia rose by 55% in 2024-2026. At the same time, tourist flows remain heavily concentrated in Yerevan, where around 60% of visitors spend their time.
The study was prepared by Visa Consulting & Analytics (VCA). It is based on aggregated and anonymized Visa card transaction data used to identify patterns in cross-border spending, tourist behaviour and visitor demographics. By combining those datasets, the report offers insight into where visitors come from, how they spend in Armenia, and the seasonal and regional trends shaping the country’s tourism profile.
Key findings
Visa says the United States, the United Arab Emirates and Georgia remain among the key source markets for inbound tourism to Armenia. At the same time, China entered the top ten for the first time, pointing to a gradual diversification of visitor origins.
The report also highlights a sharp increase in the number of foreign visitors using Visa cards. Between 2024 and 2026, that figure climbed by 55%, which the company says signals strong growth in inbound tourism and consumer spending from core markets.
At the same time, the study points to both opportunities and constraints. Around 60% of travellers visit only Yerevan, while destinations such as Dilijan and Gyumri remain underdeveloped in tourism terms, according to the report. It also shows clear seasonality, with visits in August running roughly 40% higher than in February.
Visa’s Regional Manager for the Caucasus and Moldova, Diana Kiguradze, said Armenia’s tourism sector continues to show solid momentum, with both the number of foreign guests and the list of countries they come from expanding. She said Visa aims to work with local partners so that these insights can be used to improve service quality and support broader, more sustainable growth in the tourism industry.
Nicholas Khuri, Senior Vice President and Head of Visa Consulting & Analytics for the CEMEA region, said understanding visitor preferences and how travellers engage with different destinations is essential to meeting demand more fully. According to him, the study shows that while the number of foreign visitors using Visa cards in Armenia is growing steadily, travellers from several of Armenia’s largest source markets still spend significantly more per card when visiting other countries. That, he said, creates an opportunity for local businesses and the broader tourism ecosystem to capture a larger share of that spending while visitors are in Armenia.
The company says it supports the development of Armenia’s tourism economy through data analytics, cultural tourism initiatives and innovative payment solutions. Visa also continues to expand its premium payment offerings to make travel and leisure more convenient and more rewarding.
The article notes that Visa (NYSE: V) operates in more than 200 countries and territories, facilitating payment transactions between consumers, businesses, financial institutions and public bodies. The issuance and servicing of international Visa and Mastercard cards in Armenia began in 2001. Today, almost all Armenian banks issue and service those cards, with Visa retaining a dominant position at around 3 million cards, or about 53% of the total.
As of the end of June 2026, Armenia had 1401 ATM, including 908 in Yerevan and 493 in the regions. The number of POS terminals stood at 109,493 thousand, including 6,258 thousand virtual vPOS terminals. Most of that infrastructure is used in wholesale and retail outlets as well as in food service and other services, including hotels, restaurants, cafes and bistros. Since 2022, Apple Pay and Google Pay have also been available in Armenia for contactless payments with Visa and MasterCard cards.
