It is with great pride that we can announce that our recent academic publication entitled “Connectivity, Trade and Financial Integration of the South Caucasus via the Belt and Road Initiative (BRI)” has been published in the latest edition of the Caucasus Analytical Digest (CAD).
We are pleased to announce that PMC Research has a new regional partner, namely the Institute for Economic Research and Policy Consulting, a highly reputable and independent think-tank operating in Ukraine.
On November 7, Aleksi Aleksishvili, Chairman and CEO at PMCG, participated in the international summit entitled: “Berlin Wall 30 – From the Divided to the City of Freedom”, which was held in the German capital on November 6-10.
In the fourth quarter of 2019, Georgian economic climate has slightly worsened.In this period, Georgian economists assessed Georgia’s present economic situation positively; Moreover, the assessment of present economic situation in this quarter has improved compared to the third quarter of 2019 and the fourth quarter of 2018.
Tourism is one of the fastest growing sectors in the world. It creates three hundred million jobs and accounts for 10% of global GDP. This bulletin reviews the tourism sectors of countries bordering the Black Sea in the last 6 years. The analysis is centered on the number of visits, dynamics, and the relationship between tourism and economic growth.
In Georgia, the average cost of a room1 in a 3-star hotel was 145 GEL per night in September 2019. While the average cost of a room in a 4-star hotel in Georgia was 227 GEL per night and the average cost of a room in a guesthouse2 was 73 GEL per night.
In September 2019, in Georgia the hotel price index1 decreased by 3.5% compared to August 2019. The 3-star, 4-star and 5-star hotel price index decreased by 3.8%, while for guesthouses, the price index decreased by 4.4%.
In the past year, in response to rising levels of private debt, the National Bank of Georgia (NBG) enacted new regulations to curb excessive indebtedness. The impacts of the implemented regulations are as yet unclear but generally the reaction in the private sector has been negative. In this newsletter, a brief overview of the possible implications of these lending regulations are presented.
Publication provides an overview of how the initiative could advance relations between China and the three countries of the South Caucasus, namely Armenia, Azerbaijan, and Georgia. The publication also sketched out the dynamics of the BRI related to transport connectivity, bilateral trade and foreign direct investment.
The research aims to study the current state of affairs in the rural economy and to identify steps towards its diversification by analyzing the vision, strategy and programs of the Government of Georgia, as well as regional and municipal authorities. We evaluated the development potential of linkages between farm and non-farm sectors and basic factors supporting the diversification of the rural economy.