The Business Association of Georgia (BAG) Index is a joint product of the Business Association of Georgia, PMC Research Center, 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. BAG and PMC Research Center publish the BAG Index on a quarterly basis from Q4 2019.  

Our latest Georgian Economic Climate publication offers assessments of various economic developments by Georgian economists.  Assessment of Georgia’s present economic situation was slightly positive, while predictions for Georgia’s economic situation by the end of the next six months were negative. Overall, their outlook was significantly more optimistic compared to the previous reporting period.   Political instability and labor shortage had the greatest impact on the Georgian economy in Q3 2024.   The pause in U.S. assistance “that directly benefits the Government of Georgia” was assessed very negatively in terms of its effects on Georgia’s economy.  Please refer to the full publication for more insights. 

The Business Association of Georgia (BAG) Index is a joint product of the Business Association of Georgia, PMC Research Center, 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. BAG and PMC Research Center publish the BAG Index on a quarterly basis from Q4 2019.  

Our latest monthly publication, Employment Tracker, offers insights into recent developments in Georgia’s labor market. In August 2024, 148 thousand persons received a monthly salary up to 600 GEL. Over the past 6 months (from March 2024 to August 2024), the IT/Programming sector experienced a decline in the number of vacancies posted on jobs.ge compared to the same period of 2023. In Q2 of 2024, as in the previous quarter, 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.

In Q2 of 2024, unlike the previous quarter, overnight visits did not fully recover to 2019 levels. Hotel representatives attributed this lag in recovery to civil protests and political instability in May over the Georgian government’s passing of the “Law on Transparency of Foreign Influence.” The biggest increase in visits was recorded from China (127%), which is likely due at least in part to the number of direct flights between China and Georgia doubling. From April to August 2024, average hotel prices in Adjara increased for 3-star hotels (5% YoY), 5-star hotels (10% YoY), and guesthouses (13% YoY), while the average 4-star hotel price declined by 15%.

In Georgia, the average cost of a room in a 3-star hotel was 184 GEL per night in August 2024, while the average cost of a room in a 4-star hotel in Georgia was 272 GEL per night and the average cost of a room in a guesthouse was 114 GEL per night. The average cost of a room in a 5-star hotel in Georgia in August 2024 was 586 GEL per night. In Guria, the average price was 1012 GEL, followed by Tbilisi – 687 GEL, Kakheti – 686 GEL, and Adjara – 575 GEL.  

Our latest monthly publication, Employment Tracker, offers insights into recent developments in Georgia’s labor market. In July 2024, the share of people receiving a lower monthly salary (up to 600 GEL) decreased (-2.9%), while the share of people receiving the highest salary range (9,600 GEL and more) increased (+0.6%). In July 2024, the total number of vacancies published on jobs.ge was the highest since 2022. Over the past 6 months (from February 2024 to July 2024), the fastest growing number of vacancies category was logistics, transport and distribution. Please refer to the full publication for more insights. 

In Georgia, the average cost of a room in a 3-star hotel was 178 GEL per night in July 2024, while the average cost of a room in a 4-star hotel in Georgia was 272 GEL per night and the average cost of a room in a guesthouse was 114 GEL per night.    

Our latest publication examines youth employment in Georgia from 2020 to 2023. The successful participation of youth (those aged 15-24) in Georgia’s labor market is vital for the country’s socioeconomic development. It promotes social integration, reduces poverty, and boosts economic productivity. During 2020-2023, the contribution of youth to the Georgian labor market declined, even though during this time the proportion of youth among the total population aged 15 and older remained stable. Decreasing participation of youth in the labor market is driven by both emigration and extended education periods. In 2023, approximately one out of every five young persons in Georgia neither worked nor studied, while only 7% of them managed to work and study simultaneously. Please refer to the full publication for more insights. 

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.