Hotel Price Index (February, 2024)
14-Mar-2024
In Georgia, the average cost of a room in a 3-star hotel was 158 GEL per night in February 2024, while the average cost of a room in a 4-star hotel in Georgia was 261 GEL per night and the average cost of a room in a guesthouse was 128 GEL per night. The average cost of a room in a 5-star hotel in Georgia in February 2024 was 416 GEL per night. In Tbilisi, the average price was 596 GEL, followed by Kakheti – 551 GEL, Guria – 486 GEL, and Adjara – 304 GEL.
Issue 6: Macro Overview
28-Feb-2024
Georgia's economic growth remained robust (7.5%) in 2023, albeit at a slower pace than the previous two years. In 2023, several factors presented positive and adverse economic developments - examined within the report in detail, along with the outlook for 2024. Issue 6 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.
Employment Tracker (January, 2024)
22-Feb-2024
The latest Employment Tracker publication offers insights into recent developments in Georgia’s labor market. Following a temporary year-over-year decrease of vacancies in December 2023, in the beginning of 2024, the trend of an increasing number of vacancies resumed. In January 2024, the share of people receiving a monthly salary of 2400 GEL or more continued to increase (+8pp). Over the past 6 months (from August 2023 to January 2024), the fastest growing number of vacancies category was administration and management.
Hotel Price Index (January, 2024)
15-Feb-2024
In Georgia, the average cost of a room in a 3-star hotel was 143 GEL per night in January 2024, while the average cost of a room in a 4-star hotel in Georgia was 248 GEL per night and the average cost of a room in a guesthouse was 125 GEL per night. The average cost of a room in a 5-star hotel in Georgia in January 2024 was 418 GEL per night. In Kakheti, the average price was 639 GEL, followed by Tbilisi – 498 GEL, Guria – 538 GEL, and Adjara – 328 GEL.
Trade in Black Sea Countries
05-Feb-2024
The war in Ukraine has significantly altered trade dynamics in the Black Sea region. Firstly, it has created security challenges and increased tensions between countries. On the other hand, it has also unlocked opportunities to utilize the potential of the Black Sea as a strategic location and international transport route. With this context in mind, it is important to analyze intra-Black Sea countries’ trade, to identify the patterns and volumes of goods exchanged among these countries, and to determine the dynamics of regional economic cooperation and transportation networks. This bulleting provides analysis of the trade data of Black Sea countries and present the main trends in trade in and among Black Sea countries and provides some recommendations on how to both address existing challenges and realize opportunities.
Employment Tracker (December, 2023)
23-Jan-2024
For the first time in 2 years, the number of published vacancies on jobs.ge showed a year-over-year decline. The share of persons receiving a monthly salary of 2400 GEL and more doubled in December 2023, compared to December 2022, reaching 39.4%. In 2023, from July to December, the fastest growing number of vacancies category was finance and statistics.
Monthly Tourism Update (December, 2023)
18-Jan-2024
In Q1-Q3 of 2023, the number of outbound visits made by Georgian residents reached 1.6 million, marking a 42% rise compared to Q1-Q3 of 2022. Notably, the number of outbound visits almost recovered to the pre-pandemic level, reaching 95% of the corresponding period of 2019. In Q1-Q3 of 2023, a significant proportion of outbound visitors chose Türkiye (44%) as their destination, followed by the EU (15%), Armenia (15%), and Russia (12%). Throughout Q1-Q3 of 2023, the number of visits to Russia was the most pronounced since Q2, following Russia’s decision to reinstate the visa-free regime for Georgian citizens and lifting the flight ban in May 2023. The expenditure of outbound visitors in Q1-Q3 of 2023 reached GEL 1.5 billion, which is 6% lower than in Q1-Q3 of 2019. A shift in expenditure distribution was observed in the covered period, with a significant increase in the share spent on shopping (+10 pp) and a decline in the share assigned to food and drink (-6 pp).
Hotel Price Index (December, 2023)
18-Jan-2024
In Georgia, the average cost of a room1 in a 3-star hotel was 157 GEL per night in December 2023, while the average cost of a room in a 4-star hotel in Georgia was 253 GEL per night and the average cost of a room in a guesthouse2 was 123 GEL per night. The average cost of a room in a 5-star hotel in Georgia in December 2023 was 407 GEL per night. In Kakheti, the average price was 547 GEL, followed by Tbilisi – 529 GEL, Guria – 409 GEL, and Adjara – 325 GEL.
BAG Index (Q4, 2023)
15-Jan-2024
The Business Association of Georgia (BAG) Index is a joint product of the Business Association of Georgia, PMC Research, and the ifo Institute for Economic Research. The BAG Index summarizes the BAG Business Climate, BAG Employment Barometer, and BAG Investment Environment, which are calculated according to the assessments of the top managers of BAG member businesses and companies in their corporate group. In Q4 of 2023, the surveyed businesses assess their present business situation and expectations for the next six months positively.  For the previous reports of the BAG Index, please visit the following link: https://bag.ge/ge/bag-index
Employment Tracker (November, 2023)
21-Dec-2023
In November 2023, the number of persons receiving a monthly salary increased by 3.9% compared to the corresponding period of 2022. In November 2023, the share of persons receiving a monthly salary up to 600 GEL amounted to 17.7%, which was 3.5 percentage points less than the corresponding period of 2022. In November 2023, the share of persons receiving a monthly salary of 9,600 GEL and more amounted to 2.0%, which was 0.4 percentage points more than the corresponding period of 2022. In 2023, from June to November, the total number of vacancies published on jobs.ge amounted to 44,936, which was 3.7% higher compared to the corresponding period of 2022.