Issue 119: Foreign Direct Investments in Georgia
24-Jun-2020
Due to the COVID-19 pandemic, global FDI is expected to fall by 30-40% in 2020 (UNCTAD), while the decrease in Georgia is forecast at 19% (IMF);
Net FDI inflows have been decreasing in Georgia since 2017, based on both, yearly and Q1 data;
Net FDI inflows in Georgia experience volatility over time, due to large one-off investment projects;
Georgia has been leading among EaP countries in terms of the share of FDI in GDP in 2017 and 2018;
Net FDI inflows decreased by 41.7% in Q1 of 2020, compared to Q1 in 2019, mainly due to COVID-19 pandemic.
Monthly Tourism Update (May, 2020)
18-Jun-2020
The Government of Georgia introduced various support measures in order to alleviate the burden of the COVID-19 crisis on tourism industry in the period between March and May of 2020.
The Government of Georgia, namely GNTA, operated 84 hotels during the lockdown, which served 19 002 Georgian citizens as a quarantine zone. The total cost of providing quarantine zones from the budget amounted 32.5 mln GEL.
The Government of Georgia, developed mandatory recommendations for prevention of the spread of COVID-19 on June 5th.
In May 2020, hotel prices do not provide an accurate guidance of the situation in accommodation market due to the fact that the market for accommodations is non-existent due to COVID-19 pandemic.
Hotel Price Index (May, 2020)
18-Jun-2020
In Georgia, the average cost of a room in a 3-star hotel was 126 GEL per night in May 2020. While the average cost of a room in a 4-star hotel in Georgia was 214 GEL per night and the average cost of a room in a guesthouse was 71 GEL per night. The average cost of a room in a 5-star hotel in Georgia in May 2020 was 362 GEL per night. In Tbilisi, the average price was 534 GELfollowed by Kakheti - 325 GEL and Imereti – 95 GEL.
Annual Report 2019
04-Jun-2020
The year of 2019 proved to be a busy one, with opportunities grasped and challenges overcome. We implemented various interesting projects, each of which made a telling impact. Meanwhile, as existing partnerships were strengthened, we established exciting new ones as well. Specifically, we made notable strides forward in Ukraine where we increased our representation and intensified our work. Finally, and perhaps most importantly, our excellent team has been complemented by the addition of new people with diverse and invaluable expertise.
Monthly Tourism Update (April, 2020)
03-Jun-2020
Number of international travelers decreased by 612 273 (-94.5%), compared to the same period previous year, while number of visitors decreased by 515 440 (-93.8%) and the number of tourists decreased by 321 643 (-92.3%);
Based on GNTA database, in an average registered accommodation facility in Georgia, there are 15 rooms and 37 beds. There are on average 23 rooms and 55 beds in Adjara (highest) and 6 rooms and 15 beds in Samegrelo-Zemo Svaneti (lowest). There are on average 2.4 beds per one room in Georgia. This ratio equals 2.24 in Tbilisi (lowest) and 2.91 in Racha (highest);
Hotel prices do not provide an accurate guide of situation in accommodation market due to the fact that the market for accommodations is almost non-existant due to the COVID-19 pandemic
