From HR perspective do you think the CV which includes the candidate's photo will have more or less chance to be selected for a job?

# It does matter for front office as well as certain core business positions while as for other positions qualification and experiences play a very important role at the time of selection.

Answer to this question would vary based on various factors, business needs / Job profile & the culture of the region & with the employer.

The answer & example of job profile has already been given by Rizwan Ahmad Bhat. About the culture here is the example.

In Middle East region all most all employers wants to have CV with a professional pic in it.

But if you look at UK & US, it's completely different, they want pic only if it required for a specific candidate screening (like cabin crew etc.)

So, to sum up it varies based upon the situations. Ultimately it's human who evaluates the CV & there is no stranded SOP for human behavior. It tend to react based on Psychology & Culture.

The above answer is correct. If the company is seeking good looking applicant then the CV photo is the first to be looked at.