Our latest Employment Tracker publication offers insights into recent developments in Georgia’s labor market. In June 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+3.6 pp). In June 2024, the number of vacancies published on jobs.ge did not change compared to June 2023.  Over the past 6 months (from January 2024 to June 2024), the fastest growing number of vacancies category was administration and management.  Please refer to the full publication for more insights. 

Amid rapid technological advancements and the widespread development of AI (specifically, the democratization of generative AI), coupled with the fraught geopolitical situation in the region, largely stemming from Russia’s ongoing war on Ukraine, it is imperative to understand the nuances of the innovation ecosystems of Black Sea countries. 

Our latest Quarterly Tourism Update offers insight into Georgia’s tourism indicators in Q1 of 2024. In Q1 of 2024, international visits to Georgia increased by 25%, compared to Q1 of 2023. For such visits, Türkiye was the leading country of origin, closely followed by Russia. In Q1 of 2024, visits to Georgia’s protected areas did not recover to pre-pandemic levels for the corresponding period.  In Q1 of 2024, average hotel prices in Georgia generally increased compared to the same period in 2023.

In Georgia, the average cost of a room1 in a 3-star hotel was 183 GEL per night in June 2024, while the average cost of a room in a 4-star hotel in Georgia was 275 GEL per night and the average cost of a room in a guesthouse2 was 126 GEL per night. The average cost of a room in a 5-star hotel in Georgia in June 2024 was 518 GEL per night. In Guria, the average price was 757 GEL, followed by Kakheti – 641 GEL, Tbilisi – 597 GEL, and Adjara – 524 GEL.  

The latest Georgian Economic Climate (Q2, 2024) publication offers assessments of various economic developments by Georgian economists. Assessment of Georgia’s present economic situation was slightly negative, while predictions for Georgia’s economic situation by the end of the next six months were also negative. Political instability and exchange rate fluctuations had the greatest impact on the Georgian economy in Q2 2024. The bill on “transparency of foreign influence” is expected to have a negative impact on the EU accession process, FDI inflows, and currency depreciation.

Our latest Employment Tracker publication offers insights into recent developments in Georgia’s labor market. In May 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+5.6 pp). In May 2024, the number of vacancies published on jobs.ge decreased by 3% compared to May 2023. The labor market efficiency is returning to its pre-pandemic levels. However, further observation is needed to draw final conclusions. Please refer to the full publication for more insights.

This publication compares the position of Ukraine in relation to two fellow EU candidate countries, namely Georgia and Moldova, to understand where it stands on European integration. Specifically, it evaluates the performance of all three nations alongside that of EU member states across several key indices and rankings.  A promising trend is evident in Ukraine's Control of Corruption indicator, showing a steady increase from 2019 to 2022. Fighting corruption is a key demand of the Ukrainian people and a crucial prerequisite for EU accession. According to the European Commission, despite Russia’s full-scale invasion in February 2022 and subsequent war, Ukraine has persisted in advancing democratic and rule of law reforms. Relatedly, in December 2023, EU leaders initiated accession negotiations with Ukraine.

In Georgia, the average cost of a room in a 3-star hotel was 157 GEL per night in May 2024, while the average cost of a room in a 4-star hotel in Georgia was 252 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 May 2024 was 425 GEL per night. In Guria, the average price was 659 GEL, followed by Tbilisi – 635 GEL, Kakheti – 478 GEL, and Adjara – 344 GEL.

This publication analyzes where Georgia stands in comparison to Moldova and Ukraine, two other countries with candidate status for EU membership, and evaluates how these three countries are performing relative to EU member states across several key indices and rankings to gain a comprehensive understanding of Georgia’s position regarding European integration. The most significant gap between Georgia and the EU average was identified in the area of Democracy, according to the analysis. Today, this concern is heightened as democracy in Georgia is considered to be under threat as the Parliament of Georgia has passed a law on the transparency of foreign influence.

In April 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+5.2 pp). In April 2024, the number of vacancies published on jobs.ge increased by 22% compared to April 2023. Over the past 6 months (from November 2023 to April 2024), the fastest growing number of vacancies category was administration and management.