In July 2018, the hotel price index increased by 2.7% compared to June 2018;
In July 2018, the daily rates for standard double hotel rooms increased the most in Adjara(10.1%) and Samtskhe-Javakheti (5.9%), while the hotel prices decreased only in Tbilisi (-1.2%);
In July, the average cost of a room in each category was as follows: 3-star hotel room - 148 GEL per night; 4-star hotel room - 254 GEL; 5-star hotel room - 455 GEL; guesthouse room- 72 GEL;
In Tbilisi, the 3-star, 4-star and 5-star hotel prices decreased by 2.1% in July 2018, compared to June 2018;
On Tripadvisor, 1618 accommodation units are registered in Tbilisi, significantly exceeding the number of accommodation units registered in Baku - 456, Yerevan - 436 and Ankara – 364.
The first half of 2018 produced some interesting figures regarding Georgia’s external trade. Even though the existing data is only preliminary, the analysis thereof unveils some curious results. Georgia’s exports and imports reached their highest point for the observed period of 2015-2018. In the first half of 2018, Georgia was recorded to have conduced external trade with 133 countries, a record-breaking amount in the observed period. With free trade agreements already in place with China and the EU, we have been able to conduct a rough analysis of the effects of the two agreements so far. To analyze these effects, the observed period is taken from January 2015 to June 2018.
In June 2018, the hotel price index increased by 8.6% compared to May 2018;
The 3-star, 4-star and 5-star hotel price index increased by 10.6% in June 2018 compared to May 2018;
Among 3*, 4* and 5* hotels the highest price increases were recorded in Adjara – 36% and Guria – 32.8%, in Tbilisi prices increased only by 0.4%;
In June the average cost of a room in a 3-star hotel was GEL 143 per night, 4-star hotel - 247 GEL, 5-star hotel - 403 GEL, guesthouses - 73 GEL.
For the period of 2014 to 2017, in every first quarter of each year compared to the first quarter of the previous year, the nominal exchange rate of the Georgian Lari (GEL) against the US Dollar (USD) depreciated. This trend stopped this year though as in the first quarter of 2018, compared to the first quarter of 2017, the GEL appreciated by 4.5% and the value of 1 USD was equal to 2.49 GEL (average exchange rate in the first quarter of 2018).
Giorgi Khishtovani, Director at PMC research, and Mariam Saghareishvili, Researcher at PMC Research, discussing about financing model of Georgian higher education system and its unintended implications.
The 3-star, 4-star and 5-star hotel price index increased by 2% in May 2018 compared to April 2018;
For guesthouses, the price index decreased by 1.8% in May 2018 compared to April 2018;
According to Airbnb, in May 2018, looking at the self-governing cities of Georgia the highest average cost of an apartment was recorded in Batumi-US$48;
In the first quarter of 2018, compared to the first quarter of 2017, the number of inbound visitors increased significantly in Imereti (by 67%) and Mtskheta-Mtianeti (by 47%).
According to preliminary data, the Georgian economy is characterized by a 5.0% growth in 2017, which is the highest annual real growth rate for the country since 2012. A trend analysis of GDP is useful in comprehending the indicator relative to previous years. Furthermore, a sectorial analysis of Georgia’s GDP enables us to understand the reasons behind the country’s economic growth in 2017. The three sectors which recorded the most significant growth in 2017, namely hotels and restaurants, construction, and financial intermediation, have been selected for further examination.
Georgian Economic Climate is a joint product of PMC Research Center and the ifo Institute for Economic Research. In this bulletin, we discuss Georgia’s economic climate as assessed by Georgian economists. PMC Research is a regional partner of the ifo Institute, one of the leading economic research institutesin Europe,specializing in applied economic research, policy advising and other services for governments, businesses, researchers and the public.
The 3-star, 4-star and 5-star hotel price index increased by 3.4% in April 2018, compared to March 2018;
The prices for guesthouses increased by 6% in April 2018, compared to March 2018;
According to Airbnb, in April 2018, looking at the capital cities of Georgia and its neighboring countries1 the cheapest apartments were found in Ankara (on average US$35 per night), while the most expensive were found in Moscow (on average US$130 per night);
On Airbnb, in April the average price of an apartment in Tbilisi was US$44 per night, while in Georgia as a whole it was US$45 per night;
According to the Georgian National Tourism Administration, during 2016-2017 the highest number of accommodation units2 in Georgia were opened in Guria, with a total of 30 units.