Employment Tracker (November, 2023)
27-Nov-2023
In October 2023, the number of persons receiving a monthly salary increased by 5.1% compared to the corresponding period of 2022.
In October 2023, the share of persons receiving a monthly salary up to 600 GEL amounted to 17.9%, which was 4.6 percentage points less than the corresponding period of 2022.
In October 2023, the share of persons receiving a monthly salary of 9,600 GEL and more amounted to 1.9%, which was 0.3 percentage points more than the corresponding period of 2022.
In 2023, from May to October, the total number of vacancies published on jobs.ge amounted to 45,954, which was 5.1% higher compared to the corresponding period of 2022.
Issue 146: Emigration and the Effect of Remittances on the Georgian Economy (2013-2022)
20-Nov-2023
Georgia is considered a country of emigration. Since the mid-1990s, emigration from the country has been largely defined as labor migration, with Georgian citizens seeking better prospects abroad to ease persistent socio-economic challenges at home, including high unemployment, widespread poverty, and low wages.
A distinctive feature of this trend is that a significant proportion of Georgian labor emigrants choose to reside and work illegally in their host countries. Meanwhile, for Georgians who opt to emigrate, their primary motivation for doing so is to earn enough to support their families back in Georgia to whom they send remittances to alleviate economic hardships.
This bulletin discusses Georgia’s emigration trends and the role of remittances in the Georgian economy at macro and micro levels over the last decade.
Monthly Tourism Update (October, 2023)
14-Nov-2023
In Q3 of 2023, the number of international visits reached 2.3 million visits, recording a 21% YoY increase, however, only reaching 83% of visits in Q3 of 2019.
Among the top countries of origin for international visits, in the following periods, visits from Israel are expected to decline due to geopolitical issues. However, visits from China are set to increase gradually with the new visa-free policy. Additionally, India’s tourism market remains promising, despite some border crossing challenges for visitors.
In Q3 of 2023, income from international travel reached USD 1.4 billion, which significantly surpasses the pre-pandemic number by 28%, however, showing an incremental 5% rise compared to Q3 of 2022.
In October 2023, compared to October 2022, the Hotel Price Index (HPI) in Georgia decreased by 11.1%, with the yearly HPI at its lowest under the “guesthouses” category (-18.7%). Meanwhile, compared to September 2023, the HPI in October 2023 dropped by 11.3%.
Hotel Price Index (October, 2023)
14-Nov-2023
In Georgia, the average cost of a room in a 3-star hotel was 152 GEL per night in October 2023, while the average cost of a room in a 4-star hotel in Georgia was 237 GEL per night and the average cost of a room in a guesthouse was 118 GEL per night.
The average cost of a room in a 5-star hotel in Georgia in October 2023 was 411 GEL per night. In Tbilisi, the average price was 562 GEL, followed by Guria – 530 GEL, Kakheti – 517 GEL, and Adjara – 319 GEL.
Issue 5: Macro Overview
09-Nov-2023
Following rapid double-digit growth in 2021 and 2022, Georgia's economy in this year is continuing on an upward trajectory, albeit at a slower pace compared to the previous two years.
In the first 9 months of 2023, there were several factors that have contributed to growth slowing down. Moreover, there were several factors that presented challenges and opportunities in the economy - examined within the report in detail.
Issue 5 of the Macro Overview thoroughly explores different aspects of the economy in Georgia and beyond, including:
Economic Growth;
Economic and Business Climate;
Key Macroeconomic Indicators;
Labor Market;
External Sector;
Global Economic Trends.
