The Economic Impact of Sports Tourism in Azerbaijan International Bicycle Racing Tour

Examining the impact of the new sports tourism industry is one of the most economical activities in the process of national development. The present study attempted to determine the economic impact of sports tourism of Azerbaijan international bicycle racing tour. This study was a descriptive-analytic research and was conducted using a survey research method. The statistical population and the sample were equal in number and consisted of 6 foreign and 8 domestic teams who participated in the race. The data were systematized using descriptive statistic methods, they were then analyzed using Kolmogorov-Smirnov test, Pearson‘s correlation coefficient, linear regression and Kruskal-Wallis analysis of variance. The results indicated that there is a positive relationship between sports tourism earned income, hotel industry, transportation and food industries. There is also a meaningful relationship between the consequent sport tourists, visitors of tourist attractions, and purchasing of local souvenirs. The effect of hotel industry, transportation, food industry, visiting tourist attractions and purchasing souvenirs on the consequent sports tourism income were 0.12 , 0.02 , 0.04 , 0.06 and 0.10 respectively. The above mentioned competition also led to an income of 2300 Million Rials, which caused 0.01 increase in the Gross Domestic Product of Azerbaijan province. However, this growth was not significant.Holding a competition, albeit on a small scale, can have significant effects on the region’s economy.