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- The MastercardTM Economics Institute show that the major international race event in 2025 gave a significant boost to Baku’s cross border hospitality and retail spending.
- Cross-border spending on dining was on average 170% higher during the five days surrounding the race.
- Visitors from Türkiye accounted for around a quarter of cross-border Mastercard spending during the event period.
New insights from the MastercardTM Economics Institute highlight the strong impact of the major international race in 2025 on visitor spending in Baku, from dining to retail. Based on aggregated and anonymized MastercardTM data, the analysis reveals how the event boosted spending across key sectors of the city’s visitor economy.
During the five days surrounding the race weekend, cross-border spending on dining nearly tripled compared with the level estimated without the event, while retail spending was 94% higher.
Spending builds ahead of the race
The uplift began before the main race, as international visitors arrived in Baku. Three days ahead of the race day, spending on dining was already 65% higher than it would have been without the event, while retail spending was up 29%.
The strongest activity came over the weekend. On the race day, spending on dining more than tripled compared with the estimated baseline, while retail spending peaked a day earlier at 154% above expected levels.
Importantly, the impact did not end with the race. The following day, spending on dining remained 147% higher, while retail spending was almost twice the estimated level.
“As travelers increasingly seek meaningful and experience-led journeys, major sporting and cultural events play an important role in shaping destination appeal. By understanding visitor behavior and spending trends, businesses, tourism stakeholders and policymakers can better anticipate traveler needs, enhance experiences and unlock new opportunities for tourism growth across Azerbaijan” said Onur Faydacı, General Manager, Türkiye and Azerbaijan.
Türkiye leads visitor spending
Visitors from Türkiye accounted for around a quarter of cross-border MastercardTM spending in Azerbaijan during the five days surrounding the event, making them the largest spending group. They were followed by visitors from the United Kingdom at 14%, Kazakhstan at 11% and the United Arab Emirates at 6%.
Spending patterns also varied across visitor groups. Visitors from the United Kingdom, the United Arab Emirates and Germany allocated a larger share of their spending to dining, reflecting strong interest in Baku’s dining scene.
Visitors from Saudi Arabia recorded the highest share of spending on accommodation, while apparel represented a notable share of spending among visitors from Belarus, Kazakhstan and Georgia.
Together, these patterns show how the race supports activity across different parts of Baku’s visitor economy, from dining and hospitality to retail.
A clearer view of event-driven demand
To move beyond simple year-over-year comparisons, using aggregated and anonymized MastercardTM data, the MastercardTM Economics Institute applied a synthetic control methodology to model what international visitor spending would have looked like without the event. This enabled MEI to identify the spending generated specifically by the event and reveal how that impact was distributed across Baku's visitor economy. The findings underline the broader role major international events can play in supporting tourism-related sectors and encouraging spending across the host city. They also provide businesses and policymakers with valuable insight into how visitor behavior evolves around major events.
Follow the link for perspectives: https://www.mastercard.com/news/eemea/en/perspectives/en/2026/beyond-the-finish-line-how-a-major-international-race-event-fuels-a-surge-in-azerbaijan-s-visitor-economy/
*References to locations, events, activities, and related trends in this report are not intended to suggest an endorsement, sponsorship, affiliation or other association between Mastercard and any event, organizer, participant, rights holder or other third party.
About MastercardTM
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