Baku is one of the most important tourist destinations in the Caucasus, with hotels in the city earning 7 million euros in 2009. Many sizable world hotel chains have a presence in the city. Baku has many popular tourist and entertainment spots, such as the downtown Fountains Square, the One and Thousand Nights Beach, Shikhov Beach and Oil Rocks. Baku's vicinities feature Yanar Dag, an ever-blazing spot of natural gas.
Baku has several shopping malls; the most famous city center malls are Port Baku, Park Bulvar, Ganjlik Mall, Metro Park, 28 MALL, Aygun city and AF MALL. The retail areas contain shops from chain stores up to high-end boutiques.
The city is listed 48th in the 2011 list of the most expensive cities in the world conducted by the Mercer Human Resource Consulting. Its Nizami Street is one of the most expensive streets in the world.