Tensions around Iran increase risks for logistics, tourism, and inflation in Armenia - economist
17.07.2026,
14:34
Ongoing tensions in the Middle East, including around Iran, increase risks for the Armenian economy in logistics, passenger transportation, tourism, and price stability, according to economist Hrant Mikaelyan.
YEREVAN, July 17. /ARKA/. Ongoing tensions in the Middle East, including around Iran, increase risks for the Armenian economy in logistics, passenger transportation, tourism, and price stability, according to economist Hrant Mikaelyan.
In an interview with ARKA news agency, he noted that the main risk is global in nature: further escalation could worsen the global economic situation and create external risks for Armenia comparable in nature to the consequences of previous global crises.
Mikaelyan estimates that the current situation has a greater impact on passenger transportation than on cargo. He pointed to the rise in air travel costs, which is particularly sensitive for Armenia given its geographical location. The economist also noted that energy prices—gasoline, diesel, and liquefied gas—have already risen by approximately 20-25%. The rise in energy costs could be passed on to prices and increase inflationary pressure. The scale and duration of this effect will depend on the further development of the regional situation and global price dynamics.
Most Sensitive Industries
The expert identified tourism and passenger-related sectors, as well as trade logistics with Iran, the UAE, and the Persian Gulf countries, as the most sensitive to the worsening situation.
He believes that Armenia's foreign economic relations, including the dynamics of relations with Russia, remain an additional factor of uncertainty for the currency market and inflation.
Overall, according to Mikaelyan, this creates regional instability and military-political risks for Armenia, including given the ongoing Russian-Ukrainian conflict and the continuing risks posed by Azerbaijan.
Speaking about the new opportunities that Armenia can derive from this situation, the expert noted that relevant government institutions should address this issue. "It's possible that such possibilities exist. But at this point, I'm hesitant to name them, because I think serious research is needed here, especially given that the situation is changing very rapidly," he concluded.
In an interview with ARKA news agency, he noted that the main risk is global in nature: further escalation could worsen the global economic situation and create external risks for Armenia comparable in nature to the consequences of previous global crises.
Mikaelyan estimates that the current situation has a greater impact on passenger transportation than on cargo. He pointed to the rise in air travel costs, which is particularly sensitive for Armenia given its geographical location. The economist also noted that energy prices—gasoline, diesel, and liquefied gas—have already risen by approximately 20-25%. The rise in energy costs could be passed on to prices and increase inflationary pressure. The scale and duration of this effect will depend on the further development of the regional situation and global price dynamics.
Most Sensitive Industries
The expert identified tourism and passenger-related sectors, as well as trade logistics with Iran, the UAE, and the Persian Gulf countries, as the most sensitive to the worsening situation.
He believes that Armenia's foreign economic relations, including the dynamics of relations with Russia, remain an additional factor of uncertainty for the currency market and inflation.
Overall, according to Mikaelyan, this creates regional instability and military-political risks for Armenia, including given the ongoing Russian-Ukrainian conflict and the continuing risks posed by Azerbaijan.
Speaking about the new opportunities that Armenia can derive from this situation, the expert noted that relevant government institutions should address this issue. "It's possible that such possibilities exist. But at this point, I'm hesitant to name them, because I think serious research is needed here, especially given that the situation is changing very rapidly," he concluded.
